National Energy Services Reunited Corp.

CONDENSED CONSOLIDATED INTERIM SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Supplemental cash flow information Non-cash transactions were as follows: Purchases of property, plant, and equipment in Accounts payable of $ 21.5 million and $ 36.3 million at June 30, 2025, and December, 31, 2024, respectively, are not included under Capital expenditures within the Condensed Consolidated Interim Statements of Cash Flows.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

Purchases of property, plant, and equipment using seller-provided installment financing of $ 0.5 million and $ 1.3 million at June 30, 2025, and December 31, 2024, in Accounts payable are not included under Payments on seller-provided financing for capital expenditures within the Condensed Consolidated Interim Statements of Cash Flows.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

At inception, the $ 860 million 2021 Secured Facilities Agreement consisted of a $ 430 million term loan due by November 4, 2027 (the Term Loan or Secured Term Loan ), a $ 80.0 million revolving credit facility due by November 4, 2025 ( RCF or Secured Revolving Credit Facility ), and a $ 350 million working capital facility that renews annually by mutual agreement of the Lenders and the Company.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

10 Borrowings under the Term Loan and RCF facilities incur interest based on the secured overnight financing rate ( SOFR ) for U.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

dollar-denominated borrowings or the Saudi Arabian Interbank Offered Rate ( SAIBOR ) for Saudi Arabia Riyal borrowings plus 2.6 % to 3.0 % per annum, varying based on the Company s Net Debt / EBITDA ratio as defined in the 2021 Secured Facilities Agreement.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

dollar-denominated borrowings, and interest rates of 7.93 % and 8.18 %, respectively, for Saudi Arabian Riyal borrowings.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

Production Management Assets The Company s Integrated Production Management ( IPM ) projects are focused on developing and managing production on behalf of the Company s customers under long-term agreements.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

Terms such as may, might, would, should, could, project, estimate, predict, potential, strategy, anticipate, attempt, develop, plan, help, believe, continue, intend, expect, future, and terms of similar import (including the negative of any of these terms) may identify forward-looking statements.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

Forward-looking statements in this Periodic Report may include, without limitation, the plans and objectives of management for future operations, projections of income or loss, earnings or loss per share, capital expenditures, dividends, capital structure or other financial items, our future financial performance, including any such statement contained in a discussion and analysis of financial condition by management or in the results of operations included pursuant to the rules and regulations of the Securities and Exchange Commission ( SEC ), expansion plans and opportunities, completion and integration of acquisitions and the assumptions underlying or relating to any such statement.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

Our company was founded with a vision of creating a regional provider for oilfield services that offers a full portfolio of solutions for our customers with a focus on supporting the economies in which we operate.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

Legal proceedings The Company is involved in certain legal proceedings which arise in the ordinary course of business and the outcomes of which are currently subject to uncertainties and therefore the probability of a loss, if any, being sustained and an estimate of the amount of any loss are difficult to ascertain.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

The forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon our current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which we have no control over, including the impact of the extent of any material weakness or significant deficiencies in our internal control over financial reporting and any action taken by the SEC including potential fines or penalties arising out of the SEC inquiry.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them and to the risk factors.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

Offshore drilling generally provides higher margins to service providers due to greater complexity, logistical challenges and the need for innovative solutions.

SEC original ↗National Energy Services Reunited Corp. — Earnings release (6-K report)6-KAug 20, 2025

LEGAL PROCEEDINGS 24 ITEM 1A.

SEC original ↗National Energy Services Reunited Corp. — 10-Q Quarterly report10-QAug 10, 2026