Expro N : Investor Meetings May 2025

Published: 2025-05-28 07:44:06 ET XPRO

Published on 05/28/2025 at 07:44

Investor Meetings

May 28-29, 2025 NYSE: XPRO

Get to Know XPRO

International

Offshore

$1,720m

Market Capitalization2

Asia Pacific

14%

Middle East North Africa

21%

BY REGION

~60 Countries

North & Latin America

33%

Europe & Sub- Saharan Africa

32%

Well Intervention & Integrity

16%

Subsea Well Access

17%

Well Construction

BY 34%

PRODUCT LINE

Well Management 66%

Well Flow Management

33%

Strong cash flow outlook

Zero net-debt balance sheet

with significant available liquidity

Enterprise Value3

SAFETY & SERVICE QUALITY LEADER

Wall Street Estimates

$337m4

2025E Adjusted EBITDA

Implied EV/2025E EBITDA

2024 customer service, quality, and customer job performance rating

NYSE: XPRO

Headquartered in Houston, Texas

Note: Certain totals may not add due to use of rounded numbers.

Trailing twelve months revenue is based on the trailing twelve months for the quarter ended 3/31/25.

Market capitalization based on approximately 116 million total shares outstanding and an XPRO price per share of ~$8.00. 1

Based on $121 million interest-bearing debt and $178 million cash, including restricted cash as of 3/31/25.

Average 2025 EBITDA estimates from Barclays, Goldman Sachs, JP Morgan, and Wells Fargo.

Investments Focused on Creating Value for Shareholders

LTM Revenue and LTM Adj. EBITDA Margin ($m) Tangible Capital Employed and LTM ROTC1 ($m)

Tangible Captal Employed

21%

15% 15%

16% 16%

$1,513

$1,279

20% 21%

$1,720

$1,713

LTM Return on Tangible Captal (ROTC)

10%

14%

19%

$925

$625

$826

$712

Q1 21Q2 21Q3 21Q4 21Q1 22Q2 22Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23Q1 24Q2 24Q3 24Q4 24Q1 25

Recent Acquisitions Adding product line adjacencies and geo-market scale

-3%

Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25

Note: The periods prior to Q4 2021 represents Expro standalone.

1) Return on Tangible Capital (ROTC) is Net Operating Profit After Taxes (NOPAT) divided by average Tangible Capital Employed. Tangible Capital Employed is the sum of net working capital, property plant &

equipment, and investments in joint ventures. 2

Recently Announced Contract Wins

Europe & Sub-Saharan Africa

North & Latin America

In the Gulf of America, secured a three-year well construction contract for the development phase of a deepwater field covering tubular running services (TRS) for four rigs. The

new contract award, valued at approximately

$50m, integrates some of Expro's most advanced technologies, including Centri-FI , completions elevator, completions tongs, iCAM® and jet strings.

In the Gulf of America, secured a three-rig, five-year well construction contract for the development phase of a deepwater field, covering Tubular Running Services (TRS), cementing

and cure technologies, valued at ~$35m.

Brazil for drilling and completions, workover and abandonment services, valued at more than $30m.

Positive activity trend in Brazil, securing four contracts totaling ~$60m for well construction and well flow management solutions.

Extensions worth more than $50m for plug and perforation solutions in Argentina.

Middle East & North Africa

In Algeria, secured a three-year contract for wireline and cased hole services, and within well flow management, a contract extension for mercury removal services. Additionally, our distributed fibre optic sensing (DFOS) was deployed in country.

In Saudi, expectation for growth supported by well test contract award to provide surface measurement systems (SMS) packages.

Secured a key contract valued at ~$8m to deliver integrated well testing services for a high-profile Carbon Capture and Storage (CCS) project in the North Sea, strengthening our commitment to sustainable energy solutions.

Expro secured a contract in excess of $40m for TRS and well clean up services during the startup phase covering eight wells for one of the largest gas fields on the Norwegian Continental Shelf.

Secured $25 million contract for well test and TRS services in the UK North Sea.

In the UK North Sea, awarded a +$10m contract to support an operator's 52-well plug and abandonment campaign.

Asia Pacific

Secured a three-year contract in Indonesia for ~$15m for combined electric line cased hole and slickline services on a single unit across 315 wells.

Two-year contract valued over $8m in Brunei to deliver well metering services for production assets. The agreement, which commenced in February 2025, underscores Expro's role in enhancing the client's reservoir and facility management through advanced well flow measurement solutions, such as QPulse multiphase flow meters and sonar meters.

Disclaimer

Expro Group Holdings NV published this content on May 28, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 28, 2025 at 11:43 UTC.