National Energy Services Reunited Corp

Greetings and welcome to the NESR Report Second Quarter 2026 Financial Results. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Blake Gendron, Vice President of Investor Relations. Thank you, sir. You may begin.

Thanks, Maria. Hello and welcome to NSER's second quarter 2026 earnings call. With me today are Sherif Foda, Chairman and Chief Executive Officer of NSER, and Stefan Angeli, Chief Financial Officer. On today's call, we will comment on our second quarter results and overall performance. After our prepared remarks, we will open up the call to questions. Before we begin, I'd like to remind our participants that some of the statements we'll be making today are forward-looking. These matters involve risks and uncertainties that could cause our results to differ materially from those projected in these statements. I therefore refer you to our latest earnings release filed earlier today and other SEC filings. Our comments today may also include non-GAAP financial measures. Additional details on reconciliations to the most directly comparable GAAP financial measures can be found in our press release, which is on our website. Finally, feel free to contact us after the call with any additional questions you may have. Our investor relations contact information is available on our website. Now, I'll hand the call over to Sherif.

Thanks, Blake. Ladies and gentlemen, good morning and thank you for participating in this conference call. I could not be prouder of the nearly 8,000 men and women of Ness who not only rose to the challenge in the second quarter, but exceeded all expectation and stood by our customer when needed most. I also have immense gratitude to all our clients that proved to the world that it will take more than a geopolitical disruption to change the strategic inertia of the region. Our differentiated, record-setting results reflect the resilience of our customers, our unique project exposure, and the responsiveness of our local team that consistently and repeatedly turned crisis As stated in the beginning of the conflict on our last conference call, we were first to rally to our customers. We remained by their side, and we nimbly reoriented our 30-60-90 supply chain strategy to ensure 100% reliability with zero interruption. This response showed up clearly in our fantastic results, just as we had planned and Communicators. Throughout the conflict, we've stayed true to our founding ethos. NEST began with the vision of creating a MENA energy service company built for local content leadership, supply chain resilience, fit for purpose technology, and to empower our 100% in country workforce to set new standards for safety, Quality and reliability as a true national leader. The strategy was simple. Attract capital globally to cultivate locally what our customer could consider the national champion. If we could simultaneously match or even exceed the service delivery standard to the global peers, then the growth, profitability and cash flow would naturally follow. We would also be the go-to partner in times of crisis. The story across the Middle East had been a story of in-country investment, innovation, and human capital development. NESR's founding simply reflected the trends that had been put in motion. This story was certainly tested over the past several months, but I can proudly say that NESR's star has never shined brighter Amidst the dim of conflict and uncertainty. Our second quarter results speak for themselves. They speak clearly to the Middle East story of national champion resilience and speak unambiguously to the success of our founding strategy. Despite the conflict, we've exceeded the 2 billion revenue run rate target that we originally set at the founding of the firm. and we've already established new ambitious targets that are well on the path to achieve these even more quickly. As we have proven to the market, the next growth story continues to accelerate and our momentum will be tough to stop or even slow down. Our recent performance is not a one-off but a solid track record that we have been building over many quarters. While the conflict presented its own set of challenges and opportunities for next market capture, the growth trajectory that has been in motion, particularly over the past several years, has proven rock solid regardless of the commodity price, geopolitical backdrop, or competitive landscape. It's been precisely the execution of our counter-cyclical investment strategy that has helped us decouple fundamentally from the broader cyclicality of the energy service sector and the geopolitical daily news cycle. Which is why I can confidently trust that our path to our 3B3 corporate strategy, a step-by-step playbook to reach a 3 billion revenue runway target is This strategy launched late last year, including fueling the funnel, expanding our anchor country footprint, and realizing the technology portfolio built over the past five years. It captured our main R&D focus areas and include opportunistic M&A, along with strengthening our unique technology partnership. Now let me expand upon our 3B3 in more detail. First, fueling the funnel. Today we are the largest FRAC company in the Middle East. And across our largest segments, we are well within the top three providers in the region. This scale is what fuels our supply chain efficiency and also our ability and agility as we can move people and assets seamlessly around the region to respond to, for instance, what I call the post-conflict box of restart opportunities. But this also means that our remaining segments still have plenty of growth runway to reach the scale of our top services. Here we need to ensure winning more than our fair share of tenders. So that funnel is always filled with secured multi-year contracts. We have very good visibility of these standards and with our past performance, we have secured the license to enable bidding on bigger contract sizes for the different product lines. The second part is adding to the list of anchor countries. Here we are talking about enlarging our geographical footprint smartly by either entering a new country or making one of the small ones much bigger. We are present in all basin of the Middle East, but some we are way too small or decided to limit our exposure in the past. As we gain momentum, we are invited and asked to participate in several new opportunities with innovative business model that ensures we maintain our slogan of only profitable growth. A good example of this is Syria, where ConocoPhillips, Total, Qatar Energy, and others have signed a wave of recent agreements to revive the country's oil and gas industry alongside its economy, and also play a crucial role in the export capacity build-out ongoing to the eastern net. We know the blueprint of how to intelligently start the operation and support both the IOCs and the newly formed national company with partnership and scalable operation. The third pillar encompass our frontier growth, especially NEDA and ROIA, among other R&D and innovation venture. We have invested in the past, did multiple pilots, and time has come to realize the fruits of our past investment. We will be able to demonstrate in the coming quarters the results of those efforts. We recently announced a number of contract awards in Kuwait, but we are particularly excited about our Ahmadi Innovation Valley contract. As an inaugural partner in AIV, we were one of the first to announce our commitment and plan for a world-class innovation center in the new heart of upstream innovation in Kuwait. More importantly for Nes, this contract represents our new entry into a long-term master technology agreement framework, which unlocks an entirely new innovation budget that is aligned with our open technology platform, which will exploit to adapt promising solutions tailored to the Kuwait market. To give you an idea of the magnitude of the scope, the Nes AIV focus area includes drilling, flow assurance, heavy oil, Industrial Inspection Service, Enhanced Recovery, and very crucially, Unconventional Resources, where we have established a leading vesting class in the region from our work in Jafura in Saudi Arabia. This engagement will be supported by over a dozen R&D partnerships with leading tech companies globally, several hundreds granted patents, and with the forthcoming groundbreaking of a world-class research center. This is our DNA. Build and invest in the future of the region with commitment at the highest level for long-term sustainability and prosperity. And with that, let me turn over to Stefan to discuss our stellar results in details.