Expro N : Goldman Sachs Global Energy and Clean Technology Conference

Goldman Sachs:

Global Energy & Clean Technology Conference

January 5, 2023 | Miami, Florida

N Y S E : X P R O

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- looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this presentation include statements, estimates and projections regarding the Company's future business strategy and prospects for growth, cash flows and liquidity, financial strategy, budget, projections and operating results and environmental, social and governance goals, targets and initiatives. These statements are based on certain assumptions made by the Company based on management's experience, expectations and perception of historical trends, current conditions, anticipated future developments, and other factors believed to be appropriate. Forward-looking statements are not guarantees of performance. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Such assumptions, risks and uncertainties include the outcome and results of the integration process associated with the Company's recent merger, the amount, nature and timing of capital expenditures, the availability and terms of capital, the level of activity in the oil and gas industry, volatility of oil and gas prices, unique risks associated with offshore operations, political, economic and regulatory uncertainties in international operations, the ability to develop new technologies and products, the ability to protect intellectual property rights, the ability to employ and retain skilled and qualified workers, the level of competition in the Company's industry, global or national health concerns, including health epidemics, such as COVID-19 and any variants thereof, the possibility of a swift and material decline in global crude oil demand and crude oil prices for an uncertain period of time, future actions of foreign oil producers such as Saudi Arabia and Russia, the timing, pace and extent of an economic recovery in the United States and elsewhere, inflationary pressures, the impact of current and future laws, rulings, governmental regulations, accounting standards and statements, and related interpretations, and other guidance. Such assumptions, risks and uncertainties also include the factors discussed or referenced in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the U.S. Securities and Exchange Commission (the "SEC"), as well as other risks and uncertainties set forth from time to time in the reports the Company files with the SEC. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events, historical practice, or otherwise, except as required by applicable law, and we caution you not to rely on them unduly.

This presentation includes the non-GAAP financial measures of Adjusted EBITDA, Adjusted EBITDA Margin, Contribution, Contribution Margin, Support Costs, Adjusted Cash Flow from Operations and Cash Conversion, which may be used periodically by management when discussing the Company's financial results with investors and analysts. Adjusted EBITDA, Adjusted EBITDA Margin, Contribution, Contribution Margin, Support Costs, Adjusted Cash Flow from Operations and Cash Conversion are presented because management believes these metrics provide additional information relative to the performance of the Company's business. These metrics are commonly employed by financial analysts and investors to evaluate the operating and financial performance of the Company from period to period and to compare it with the performance of other publicly traded companies within the industry. You should not consider Adjusted EBITDA, Adjusted EBITDA Margin, Contribution, Contribution Margin, Support Costs, Adjusted Cash Flow from Operations and Cash Conversion in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Because Adjusted EBITDA, Adjusted EBITDA Margin, Contribution, Contribution Margin, Support Costs, Adjusted Cash Flow from Operations and Cash Conversion may be defined differently by other companies in the Company's industry, the Company's presentation of Adjusted EBITDA, Adjusted EBITDA Margin, Contribution, Contribution Margin, Support Costs, Adjusted Cash Flow from Operations and Cash Conversion may not be comparable to similarly titled measures of other companies, thereby diminishing their utility. For a reconciliation of each to the nearest comparable measure in accordance with GAAP, please see the Appendix to this presentation.

	Karen David-Green	Downloadable Financials:
	Chief Communications, Stakeholder & Sustainability Officer
	Investors.Expro.com
	[e-mail]

Copyright 2022 Expro. All rights reserved.

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Delivering

Unlocking

technology, expertise

energy answers

and service

for tomorrow

for the wells of today

Copyright 2022 Expro. All rights reserved.	3
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EXPRO at a Glance: We Are "Well Experts"

C O U N T R I E SEMPLOYEES

STRONG CASH	DEBT FREE
FLOW OUTLOOK	BALANCE SHEET
	with significant available liquidity

SAFETY & SERVICE QUALITY LEADER

2021 customer service, quality, and customer job performance rating

OUR REVENUE

I N T E R N A T I O N A L

U . S . L AN D

OFFSH OR E

Asia Pacific

16%

	2021	North & Latin
	America
	Revenue by
	34%
Middle East	Geography

17%	$1,143m
North Africa

Europe & Sub-

Saharan Africa

33%

A DIVERSE SET OF

GLOBAL CAPABILITIES IN:

	WELL MANAGEMENT
WELL CONSTRUCTION	Well Flow Management	Subsea Well Access	Well Intervention & Integrity

Sustainable Energy Solutions

$2.0bn	~$1.8bn
Market Capitalization1	Enterprise Value2

NYSE: XPRO

Headquartered in Houston, Texas and domiciled in the Netherlands

Completed reverse merger with Frank's International on October 1, 2021

Copyright 2022 Expro. All rights reserved.

1)	Market capitalization based on approximately 109 million total shares outstanding and an XPRO price per share of ~$18.86
2)	Based on no interest-bearing debt and $157m cash at 9/30/22	4

Leading &

Differentiated Portfolio

Significant upside

from International & Offshore Recovery

Growing Shareholder Value

Through-Cycle	Compelling
Resiliency	Rate-of-Change Story
Driven by breadth	Improving business mix
of services and	Recently deployed
technologies
technologies
	Merger synergies

Performance is a Core Value

People | Partnership | Performance | Planet

Accelerating

Cash Flow

Debt free balance sheet and free cash flow upside provide tactical and strategic flexibility

Copyright 2022 Expro. All rights reserved.

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