Helmerich & Payne, Inc.

As of the end of July, the Company has repaid $120 million on its existing $400 million term loan and now expects to repay a total of $200 million by the end of calendar year 2025, up from the prior expectation of $175 million.

SEC original ↗Helmerich & Payne, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Approximately $25 million returned to shareholders as part of the Company s ongoing dividend program.

SEC original ↗Helmerich & Payne, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

We have now repaid $120 million on the $400 million two-year term loan and expect to repay a total of approximately $200 million by end of calendar 2025, up from prior expectations of $175 million.

SEC original ↗Helmerich & Payne, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

H P maintains an investment-grade credit rating, ended the quarter with $187 million of cash and short-term investments, and has an undrawn $950 million credit facility.

SEC original ↗Helmerich & Payne, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

This strong financial foundation supports our growing operations, funds our dividend, and enables continued deleveraging.

SEC original ↗Helmerich & Payne, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Senior Notes Issued in Fiscal Year 2021 On September 29, 2021, we issued $ 550.0 million aggregate principal amount of the 2.90 percent senior notes due 2031 ("the 2031 Notes") in an offering to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act as amended (the "Securities Act") and to certain non-U.

SEC original ↗Helmerich & Payne, Inc. — 10-Q Quarterly report10-QAug 6, 2026

In NAS, our market share and financial performance remain the highest among our drilling peers, underscoring H P s strong customer partnerships and focus on sustainable economic returns.

SEC original ↗Helmerich & Payne, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Approximately 50% of the NAS active rigs utilized performance contracts during the quarter, and the performance model remains an integral and differentiating component of H P s overall strategy.

SEC original ↗Helmerich & Payne, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

The inclusion of the legacy KCAD offshore business has added scale and geographic expansion to our offshore segment.

SEC original ↗Helmerich & Payne, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Fiscal Year 2026 Activity In October 2025 , we committed to a plan to scrap 30 rigs and auxiliary equipment within our North America Solutions segment and three rigs within our Offshore Solutions segment as part of our strategy to right size our fleet and reduce expenses.

SEC original ↗Helmerich & Payne, Inc. — 10-Q Quarterly report10-QAug 6, 2026

The Amended Credit Facility contains additional terms, conditions, restrictions and covenants that we believe are usual and customary in unsecured debt arrangements for companies of similar size and credit quality, including a limitation that priority debt (as defined in the credit agreement) may not exceed 17.5 percent of the net worth of the Company.

SEC original ↗Helmerich & Payne, Inc. — 10-Q Quarterly report10-QAug 6, 2026

Forward-Looking Statements This release includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, and such statements are based on current expectations and assumptions that are subject to risks and uncertainties.

SEC original ↗Helmerich & Payne, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

For information regarding risks and uncertainties associated with the Company s business, please refer to the Risk Factors and Management s Discussion and Analysis of Financial Condition and Results of Operations sections and other disclosures in the Company s SEC filings, including but not limited to its annual report on Form 10 K and quarterly reports on Form 10 Q.

SEC original ↗Helmerich & Payne, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Expected direct margin for the fourth quarter of fiscal 2025 is provided on a non-GAAP basis only because certain information necessary to calculate the most comparable GAAP measure is unavailable due to the uncertainty and inherent difficulty of predicting the occurrence and the future financial statement impact of certain items.

SEC original ↗Helmerich & Payne, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Therefore, as a result of the uncertainty and variability of the nature and amount of future items and adjustments, which could be significant, we are unable to provide a reconciliation of expected direct margin to the most comparable GAAP measure without unreasonable effort.

SEC original ↗Helmerich & Payne, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Legal Proceedings 50 Item 1A.

SEC original ↗Helmerich & Payne, Inc. — 10-Q Quarterly report10-QAug 6, 2026

NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, RELATED RISKS AND UNCERTAINTIES Interim Financial Information The accompanying Unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States ( U.

SEC original ↗Helmerich & Payne, Inc. — 10-Q Quarterly report10-QAug 6, 2026