Risk Factors Update Summary

• Increased focus on sustainability practices may impact demand for services and products.
• Addition of detailed environmental regulations and liabilities, including strict liability under CERCLA and RCRA.
• Loss of large customers could significantly affect financial condition and results of operations.
• Mention of potential liability for soil and groundwater contamination, especially from prior owners or operators.
• Shortages of equipment and materials may adversely affect operating results, impacting revenue.
• Inclusion of legal proceedings related to a claim by a subsidiary of NOV Inc. against acquired subsidiaries.
• Increased costs for core drilling services may affect competitiveness and financial condition.
• Expansion of services to over 30 countries internationally, increasing exposure to political and economic risks.
• Ownership change may limit utilization of historic U.S. net operating loss carryforwards.
• Increased scrutiny on ESG activities and disclosures, facing pressures from stakeholders and regulators.
• Uncertainties from mergers may lead to loss of key personnel, affecting future business.
• Changes in interest rates on SOFR rate loans, with the applicable margin decreasing from 0.75% to 0.50%.
• Legislation opposing hydraulic fracturing could impose additional regulatory burdens, impacting operations.
• Potential impact of a ratings downgrade on access to debt markets and increased cost of future debt.