Open the filing on EDGARHALLIBURTON COMPANY FOOTNOTE TABLE 1 FOOTNOTE TABLE 2 FOOTNOTE TABLE 3 FOOTNOTE TABLE 5 Conference Call Details Condensed Consolidated Statements of Operations HALLIBURTON COMPANY HALLIBURTON COMPANY HALLIBURTON COMPANY HALLIBURTON COMPANY HALLIBURTON COMPANY Exhibit 99.1 Operating Segments Middle East/Asia revenue in the fourth quarter of 2025 was $1.5 billion, an increase of 3% •Halliburton released LOGIX™ unit vitality, in addition to the LOGIX™ automation and Forward-looking Statements (Millions of dollars and shares except per share data) HALLIBURTON COMPANY HALLIBURTON COMPANY HALLIBURTON COMPANY HALLIBURTON COMPANY Condensed Consolidated Statements of Operations Condensed Consolidated Balance Sheets Condensed Consolidated Statements of Cash Flows Revenue and Operating Income Comparison Revenue and Operating Income Comparison sequentially. This improvement was primarily driven by increased well intervention services remote operations family of solutions. The system monitors cementing equipment in Halliburton Company (NYSE: HAL) will host a conference call on Wednesday, (Unaudited) Reconciliation of Operating Income to Adjusted Operating Income Reconciliation of Operating Income to Adjusted Operating Income Reconciliation of Net Income to Adjusted Net Income Reconciliation of Cash Flows from Operating Activities to Free Cash Flow (Millions of dollars and shares except per share data) (Millions of dollars) (Millions of dollars) By Operating Segment and Geographic Region By Operating Segment and Geographic Region FOOTNOTE TABLE 4 The statements in this press release that are not historical statements are forward-looking Completion and Production and higher stimulation activity in Saudi Arabia, improved well construction activity in real-time, prepares for upcoming jobs, and provides direct insight into equipment Three Months EndedDecember 31, September 30, 202520242025Revenue:Completion and Production$3,268$3,178$3,223Drilling and Evaluation2,3892,4322,377Total revenue$5,657$5,610$5,600Operating income:Completion and Production$570$629$514Drilling and Evaluation367401348Corporate and other(66)(65)(64)SAP S4 upgrade expense(42)(33)(50)Impairment and other charges (a)(83) - (392)Total operating income746932356Interest expense, net(86)(84)(88)Other, net (b)(25)(55)(49)Income before income taxes635793219Income tax provision (c)(46)(179)(199)Net income$589$614$20Net (income) loss attributable to noncontrolling interest - 1(2)Net income attributable to Company$589$615$18Basic and diluted net income per share$0.70$0.70$0.02Basic weighted average common shares outstanding839875849Diluted weighted average common shares outstanding840875850 (Millions of dollars) (Millions of dollars) (Millions of dollars and shares except per share data) (Millions of dollars) January 21, 2026, to discuss its fourth quarter 2025 financial results. The call will begin (Unaudited) (Unaudited) (Unaudited) (Millions of dollars) (Millions of dollars) statements within the meaning of the federal securities laws. These statements are subject (Unaudited) (Unaudited) (Unaudited) (Unaudited) Indonesia, higher completion tool sales in Asia, and improved stimulation activity in United operation and performance. The system connects critical cement unit components to Year EndedDecember 31, 20252024Revenue:Completion and Production$12,782$13,251Drilling and Evaluation9,4029,693Total revenue$22,184$22,944Operating income:Completion and Production$2,128$2,709Drilling and Evaluation1,3791,608Corporate and other(262)(255)SAP S4 upgrade expense(154)(124)Impairment and other charges (a)(831)(116)Total operating income2,2603,822Interest expense, net(352)(353)Other, net (b)(137)(235)Income before income taxes1,7713,234Income tax provision (c)(479)(718)Net income$1,292$2,516Net income attributable to noncontrolling interest(9)(15)Net income attributable to Company$1,283$2,501Basic net income per share$1.50$2.84Diluted net income per share$1.50$2.83Basic weighted average common shares outstanding853882Diluted weighted average common shares outstanding853883 December 31,20252024AssetsCurrent assets: Cash and equivalents$2,206$2,618Receivables, net4,9425,117Inventories2,9763,040Other current assets1,2741,607Total current assets11,39812,382Property, plant, and equipment, net5,2615,113Goodwill2,9382,838Deferred income taxes2,2982,339Operating lease right-of-use assets9381,022Other assets2,1771,893Total assets$25,010$25,587Liabilities and Shareholders' EquityCurrent liabilities: Accounts payable$3,133$3,189Accrued employee compensation and benefits767711Current portion of operating lease liabilities263263Current maturities of long-term debt - 381Other current liabilities1,4251,506Total current liabilities5,5886,050Long-term debt7,1587,160Operating lease liabilities712798Employee compensation and benefits428414Other liabilities619617Total liabilities14,50515,039Company shareholders’ equity10,46110,506Noncontrolling interest in consolidated subsidiaries4442Total shareholders’ equity10,50510,548Total liabilities and shareholders’ equity$25,010$25,587 Year EndedThree Months EndedDecember 31, December 31, 202520242025 Cash flows from operating activities:Net income$1,292$2,516$589Adjustments to reconcile net income to cash flows from operating activities:Depreciation, depletion, and amortization1,1361,079290Impairments and other charges83111683Working capital (a)196(103)307Other operating activities(529)257(104)Total cash flows provided by operating activities2,9263,8651,165Cash flows from investing activities:Capital expenditures(1,254)(1,442)(337)Purchase of an equity investment(363)(139)(20)Purchases of marketable securities(202)(438)(74)Payments to acquire business(185)(27)(10)Sales of marketable securities444214216Proceeds from sales of property, plant, and equipment18522347Sale of an equity investment120 - - Other investing activities(70)(45)(21)Total cash flows used in investing activities(1,325)(1,654)(199)Cash flows from financing activities:Stock repurchase program(1,007)(1,005)(250)Dividends to shareholders(579)(600)(143)Payments on long-term borrowings(389)(100)(382)Other financing activities(12)(25)4Total cash flows used in financing activities(1,987)(1,730)(771)Effect of exchange rate changes on cash(26)(127)(15)Increase (decrease) in cash and equivalents(412)354180Cash and equivalents at beginning of period2,6182,2642,026Cash and equivalents at end of period$2,206$2,618$2,206 (Unaudited) (Unaudited) HALLIBURTON COMPANY at 8:00 a.m. CT (9:00 a.m. ET). Three Months EndedDecember 31, September 30, 202520242025Operating income$746$932$356Impairments and other charges:Equity in earnings loss50 - - Impairment of assets held for sale24 - 96Severance costs23 - 169Fixed and Other assets write-offs - - 115Gain on investment - - (6)Cybersecurity incident - - (10)Other(14) - 28Total impairments and other charges (a)83 - 392Adjusted operating income (b) (c)$829$932$748 Year EndedDecember 31, 20252024Operating income$2,260$3,822Impairments and other charges:Severance costs29963Impairment of assets held for sale22449Fixed and Other assets write-offs115 - Impairment of real estate facilities53 - Equity in earnings loss50 - Gain on investment(6)(43)Cybersecurity incident(10)35Other10612Total impairments and other charges (a)831116Adjusted operating income (b) (c)$3,091$3,938 Three Months EndedDecember 31, September 30, 202520242025Net income attributable to company$589$615$18Adjustments:Impairments and other charges (a)83 - 392Other, net (b) - - 23Total adjustments, before taxes83 - 415Tax benefit from prepayment (c)(86) - - Tax valuation allowance (c) - - 125Tax adjustment (c)(10) - (62)Total adjustments, net of taxes (d)(13) - 478Adjusted net income attributable to company (d)$576$615$496Diluted weighted average common shares outstanding840875850Net income per diluted share (e)$0.70$0.70$0.02Adjusted net income per diluted share (e)$0.69$0.70$0.58 Year EndedThree Months EndedDecember 31, December 31, 202520242025Total cash flows provided by operating activities$2,926$3,865$1,165Capital expenditures(1,254)(1,442)(337)Proceeds from sales of property, plant, and equipment18522347Free cash flow (a)$1,857$2,646$875 to numerous risks and uncertainties, many of which are beyond the company's control, Three Months EndedDecember 31, September 30, Revenue202520242025By operating segment:Completion and Production$3,268$3,178$3,223Drilling and Evaluation2,3892,4322,377Total revenue$5,657$5,610$5,600By geographic region:North America$2,207$2,213$2,364Latin America1,066953996Europe/Africa/CIS928795828Middle East/Asia1,4561,6491,412Total revenue$5,657$5,610$5,600Operating IncomeBy operating segment:Completion and Production$570$629$514Drilling and Evaluation367401348Total operations9371,030862Corporate and other(66)(65)(64)SAP S4 upgrade expense(42)(33)(50)Impairments and other charges(83) - (392)Total operating income$746$932$356 Year EndedDecember 31, Revenue20252024By operating segment:Completion and Production$12,782$13,251Drilling and Evaluation9,4029,693Total revenue$22,184$22,944By geographic region:North America$9,066$9,626Latin America3,9354,211Europe/Africa/CIS3,3513,003Middle East/Asia5,8326,104Total revenue$22,184$22,944Operating IncomeBy operating segment:Completion and Production$2,128$2,709Drilling and Evaluation1,3791,608Total operations3,5074,317Corporate and other(262)(255)SAP S4 upgrade expense(154)(124)Impairments and other charges(831)(116)Total operating income$2,260$3,822 Completion and Production revenue in the fourth quarter of 2025 was $3.3 billion, flat Reconciliation of Net Income to Adjusted Net Income Arab Emirates. Partially offsetting these increases were lower completion tool sales and intelligent controllers and monitors more than 400 real-time parameters to ensure which could cause actual results to differ materially from the results expressed or implied by (Millions of dollars and shares except per share data) sequentially, while operating income was $570 million, an increase of $56 million, or 11%. decreased drilling activity in Saudi Arabia, and lower stimulation activity in Qatar and optimal performance. Please visit the Halliburton website to listen to the call via live webcast. A recorded HALLIBURTON ANNOUNCES FOURTH QUARTER 2025 RESULTS (Unaudited) the statements. These risks and uncertainties include, but are not limited to: changes in the Revenue improvements driven by higher year-end completion tool sales globally, improved Australia. version will be available for seven days under the same link immediately following the Year EndedDecember 31, 20252024Net income attributable to company$1,283$2,501Adjustments:Impairments and other charges (a)831116Other, net (b)2382Total adjustments, before taxes854198Tax valuation allowance (c)125 - Tax benefit from prepayment (c)(86) - Tax adjustment (c)(115)(55)Total adjustments, net of taxes (d)778143Adjusted net income attributable to company (d)$2,061$2,644Diluted weighted average common shares outstanding853883Net income per diluted share (e)$1.50$2.83Adjusted net income per diluted share (e)$2.42$2.99 demand for or price of oil and/or natural gas, including as a result of development of cementing activity in the Western Hemisphere and Africa, and increased well intervention •Halliburton was awarded an Integrated Drilling Services contract in OML 144 offshore conclusion of the conference call. You can also pre-register for the conference call and •Net income of $0.70 per diluted share. alternative energy sources, general economic conditions such as inflation and recession, the services internationally were offset by lower stimulation activity in the Western Hemisphere. Other Financial Items Nigeria by Shell Nigeria Exploration and Production Company (SNEPCo), in obtain your dial in number and passcode by clicking here.
- Adjusted net income of $0.69 per diluted share. ability of the OPEC+ countries to agree on and comply with production quotas, and other Operating income increased due to activity mix improvements from completion tool sales in collaboration with Sunlink Energies. Halliburton will support the HI gas field
- Revenue of $5.7 billion and operating margin of 13%. causes; changes in capital spending by our customers; the modification, continuation or the Western Hemisphere and Europe and cementing activity in Europe/Africa, and well During the fourth quarter of 2025, Halliburton: development for feed gas supply to the Nigeria LNG Train 7 facility. Halliburton’s •Adjusted operating margin of 15%. suspension of our shareholder return framework, including the payment of dividends and intervention activity resuming in the Middle East. Project Management team will support the drilling execution and provide integrated •Cash flow from operations of $1.2 billion and free cash flow of $875 million. purchases of our stock, which will be subject to the discretion of our Board of Directors and
- Repurchased $250 million of its common stock. (a)Free Cash Flow is a non-GAAP financial measure which is calculated as “Total cash flows provided by operating activities” less “Capital expenditures” plus “Proceeds from sales of property, plant, and equipment.” Management believes that Free Cash Flow is a key measure to assess liquidity of the business and is consistent with the disclosures of Halliburton's direct, large-cap competitors. services to deliver end-to-end solutions. •Full year share repurchases of $1 billion.
may depend on a variety of factors, including our results of operations and financial Drilling and Evaluation (1)Adjusted net income per diluted share is a non-GAAP financial measure; please see definition of Adjusted Net Income Per Diluted Share in Footnote Table 3 and 4.(2)Adjusted operating margin is a non-GAAP financial measure; please see reconciliation of Operating Income to Adjusted Operating Income in Footnote Table 1 and 2.(3)Free cash flow is a non-GAAP financial measure; please see reconciliation of Cash Flows from Operating Activities to Free Cash Flow in Footnote Table 5.(4)Adjusted net income is a non-GAAP financial measure; please see reconciliation of Net Income to Adjusted Net Income in Footnote Table 3 and 4.(5)Adjusted operating income is a non-GAAP financial measure; please see reconciliation of Operating Income to Adjusted Operating Income in Footnote Table 1 and 2. •Full year 85% return of free cash flow to shareholders. condition, growth plans, capital requirements and other conditions existing when any
- Retired $382 million of its 3.8% senior notes due November 2025. Investor Relations Contact Media Relations payment or purchase decision is made; potential catastrophic events related to our Drilling and Evaluation revenue in the fourth quarter of 2025 was $2.4 billion, flat HOUSTON - January 21, 2026 - Halliburton Company (NYSE: HAL) announced today net David Coleman Alexandra Franceschi operations, and related indemnification and insurance; protection of intellectual property sequentially, while operating income was $367 million, an increase of $19 million, or 5%.
- Paid dividends of $0.17 per share. income of $589 million, or $0.70 per diluted share, for the fourth quarter of 2025 and Investors@Halliburton.com PR@Halliburton.com rights; cyber-attacks and data security; compliance with environmental laws; changes in Revenue improvements driven by higher wireline activity in the Eastern Hemisphere and adjusted net income, excluding “Impairments and other charges” and tax adjustments, of government regulations and regulatory requirements, particularly those related to oil and 281-871-2688 281-871-2601 increased year-end software sales in Latin America and Middle/East Asia were offset by
- Spent $42 million on SAP S4 migration. $576 million, or $0.69 per diluted share. This compares to net income for the third quarter of natural gas exploration, the environment, radioactive sources, explosives, chemicals, lower fluid services in North America and decreased drilling services in Middle East/Asia. 2025 of $18 million, or $0.02 per diluted share, and adjusted net income, excluding hydraulic fracturing services, and climate-related initiatives; assumptions regarding the Operating income increased due to improved activity mix from wireline activity in the Eastern Selective Technology & Highlights (a)During the three months ended December 31, 2025, Halliburton recognized a pre-tax charge of $83 million as a result of an equity in earnings loss, an impairment of assets held for sale, severance costs, and other items. During the three months ended September 30, 2025, Halliburton recognized a pre-tax charge of $392 million as a result of severance costs, fixed and other assets write-offs, an impairment of assets held for sale, and other items.(b)Adjusted operating income is a non-GAAP financial measure which is calculated as: “Operating income” plus “Total impairments and other charges” for the respective periods. Management believes that operating income adjusted for impairments and other charges is useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the company's normal operating results. Management analyzes operating income without the impact of these items as an indicator of performance, to identify underlying trends in the business, and to establish operational goals. The adjustments remove the effect of these items.(c)We calculate operating margin by dividing operating income by revenue. We calculate adjusted operating margin, a non-GAAP financial measure, by dividing adjusted operating income by revenue. Management believes adjusted operating margin is useful to investors to assess and understand operating performance. “Impairments and other charges” and other items, of $496 million, or $0.58 per diluted generation of future taxable income, and compliance with laws related to and disputes with Hemisphere and year-end software sales. (a)During the year ended December 31, 2025, Halliburton recognized a pre-tax charge of $831 million as a result of severance costs, an impairment of assets held for sale, fixed and other assets write-offs, an impairment on real estate facilities, an equity in earnings loss, and other items, primarily related to legacy environmental remediation cost estimate increases. During the year ended December 31, 2024, Halliburton recognized a pre-tax charge of $116 million as a result of severance costs, an impairment of assets held for sale, expenses related to a cybersecurity incident, a gain on a fair value adjustment of an equity investment, and other items.(b)Adjusted operating income is a non-GAAP financial measure which is calculated as: “Operating income” plus “Total impairments and other charges” for the respective periods. Management believes that operating income adjusted for impairments and other charges is useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the company's normal operating results. Management analyzes operating income without the impact of these items as an indicator of performance, to identify underlying trends in the business, and to establish operational goals. The adjustments remove the effect of these items.(c)We calculate operating margin by dividing operating income by revenue. We calculate adjusted operating margin, a non-GAAP financial measure, by dividing adjusted operating income by revenue. Management believes adjusted operating margin is useful to investors to assess and understand operating performance. share. Halliburton’s total revenue for the fourth quarter of 2025 was $5.7 billion, compared to taxing authorities regarding income taxes; risks of international operations, including risks
- Halliburton, a global leader in energy services and technology, and VoltaGrid, a total revenue of $5.6 billion in the third quarter of 2025. Operating income was $746 million relating to unsettled political conditions, war, the effects of terrorism, foreign exchange rates Geographic Regions leading provider of distributed power and energy solutions, have signed an in the fourth quarter of 2025, compared to operating income of $356 million in the third and controls, international trade and regulatory controls, tariffs, and sanctions, and doing (a)See Footnote Table 1 for details of the impairments and other charges recorded during the three months ended December 31, 2025 and September 30, 2025.(b)During the three months ended September 30, 2025, Halliburton incurred a charge of $23 million due to the impairment of an investment in Argentina. (c)The adjustments include an $86 million discrete tax benefit from the FDII deduction attributable to a royalty prepayment as well as the tax effect on impairments and other charges during the three months ended December 31, 2025. During the three months ended September 30, 2025, the adjustments include a $125 million tax expense associated with a valuation allowance recorded against our deferred tax assets, which resulted from the impact on the realizability of our United States foreign tax credits due to the “One Big Beautiful Bill Act” (OBBBA), as well as the tax effect on impairments and other charges and the impairment of an investment in Argentina.(d)Adjusted net income attributable to company is a non-GAAP financial measure which is calculated as: “Net income attributable to company” plus “Total adjustments, net of taxes” for the respective periods. Management believes net income adjusted for impairments and other charges and the Argentina investment impairment, along with the tax adjustments is useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the company's normal operating results. Management analyzes net income without the impact of these items as an indicator of performance to identify underlying trends in the business and to establish operational goals. Total adjustments remove the effect of these items.(e)Net income per diluted share is calculated as: “Net income attributable to company” divided by “Diluted weighted average common shares outstanding.” Adjusted net income per diluted share is a non-GAAP financial measure which is calculated as: “Adjusted net income attributable to company” divided by “Diluted weighted average common shares outstanding.” Management believes adjusted net income per diluted share is useful to investors to assess and understand operating performance. agreement to establish a strategic collaboration focused on delivering distributed quarter of 2025. Excluding “Impairments and other charges”, adjusted operating income in business with national oil companies; weather-related issues, including the effects of North America power generation solutions for data centers worldwide, with the initial roll-out targeted the fourth quarter of 2025, was $829 million, compared to adjusted operating income of hurricanes and tropical storms; delays or failures by customers to make payments owed to About Halliburton for the Middle East. The companies have secured manufacturing for 400 megawatts $748 million in the third quarter of 2025. us; infrastructure issues in the oil and natural gas industry; availability and cost of highly North America revenue in the fourth quarter of 2025 was $2.2 billion, a decrease of 7% of modular natural gas power systems for delivery in 2028 to support the skilled labor and raw materials; completion of potential dispositions, and acquisitions, and Halliburton is one of the world’s leading providers of products and services to the energy (a)See Footnote Table 2 for details of the impairments and other charges recorded during the years ended December 31, 2025 and December 31, 2024.(b)During the year ended December 31, 2025, Halliburton incurred a charge of $23 million due to the impairment of an investment in Argentina. During the year ended December 31, 2024, Halliburton incurred a charge of $82 million, primarily due to the impairment of an investment in Argentina and currency devaluation in Egypt.(c)The adjustments include a $125 million tax expense associated with a valuation allowance recorded against our deferred tax assets, which resulted from the impact on the realizability of our United States foreign tax credits due to the OBBBA, an $86 million discrete tax benefit from the FDII deduction attributable to a royalty prepayment, as well as the tax effect on impairments and other charges, and the impairment of an investment in Argentina, recorded during the year ended December 31, 2025. During the year ended December 31, 2024, the tax adjustment includes a $41 million tax benefit associated with a partial release of a valuation allowance on deferred tax assets based on market conditions, the tax effects on impairments and other charges, the impairment of an investment in Argentina, and Egypt currency impact.(d)Adjusted net income attributable to company is a non-GAAP financial measure which is calculated as: “Net income attributable to company” plus “Total adjustments, net of taxes” for the respective periods. Management believes net income adjusted for the impairments and other charges, Egypt currency impact, and Argentina investment impairments, along with the tax adjustments, is useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the company's normal operating results. Management analyzes net income without the impact of these items as an indicator of performance to identify underlying trends in the business and to establish operational goals. Total adjustments remove the effect of these items.(e)Net income per diluted share is calculated as: “Net income attributable to company” divided by “Diluted weighted average common shares outstanding.” Adjusted net income per diluted share is a non-GAAP financial measure which is calculated as: “Adjusted net income attributable to company” divided by “Diluted weighted average common shares outstanding.” Management believes adjusted net income per diluted share is useful to investors to assess and understand operating performance. sequentially. This decline was primarily driven by lower stimulation activity in US Land and development of data centers across the Eastern Hemisphere. This investment Total revenue for the full year of 2025 was $22.2 billion, compared to 2024 revenue of $22.9 integration and success of acquired businesses and joint ventures. Halliburton's Form 10-K industry. Founded in 1919, we create innovative technologies, products, and services that Canada, decreased fluid services in the Gulf of America, and lower well intervention demonstrates the companies’ commitment to focus on innovative, sustainable energy billion. Operating income for 2025 was $2.3 billion, compared to 2024 operating income of for the year ended December 31, 2024, Form 10-Q for the quarter ended September 30, help our customers maximize their value throughout the life cycle of an asset and advance a (a)See Footnote Table 1 for details of the impairments and other charges recorded during the three months ended December 31, 2025 and September 30, 2025.(b)During the three months ended September 30, 2025, Halliburton incurred a charge of $23 million due to the impairment of an investment in Argentina. (c)The income tax provision during the three months ended December 31, 2025, includes an $86 million discrete tax benefit from the Foreign-Derived Intangible Income (FDII) deduction attributable to a royalty prepayment, as well as the tax effect on impairments and other charges. The income tax provision during the three months ended September 30, 2025, includes a $125 million tax expense associated with a valuation allowance recorded against our United States foreign tax credits, as well as the tax effect on impairments and other charges and the impairment of an investment in Argentina.See Footnote Table 1 for Reconciliation of Operating Income to Adjusted Operating Income.See Footnote Table 3 for Reconciliation of Net Income to Adjusted Net Income. See Footnote Table 1 for Reconciliation of Operating Income to Adjusted Operating Income. services in US Land. Partially offsetting these decreases were improved cementing activity solutions that meet evolving global infrastructure requirements. $3.8 billion. Excluding “Impairments and other charges”, adjusted operating income for the 2025, recent Current Reports on Form 8-K and other Securities and Exchange Commission sustainable energy future. Visit us at www.halliburton.com; connect with us on LinkedIn, and higher completion tool sales in US Land and the Gulf of America. full year of 2025 was $3.1 billion, compared to 2024 adjusted operating income of $3.9 See Footnote Table 2 for Reconciliation of Operating Income to Adjusted Operating Income. filings discuss some of the important risk factors identified that may affect Halliburton's YouTube, Instagram, and Facebook. billion. •Halliburton signed a framework agreement to provide umbilical-less tubing hanger business, results of operations, and financial condition. Halliburton undertakes no obligation (a)See Footnote Table 2 for details of the impairments and other charges recorded during the years ended December 31, 2025 and December 31, 2024.(b)During the year ended December 31, 2025, Halliburton incurred a charge of $23 million due to the impairment of an investment in Argentina. During the year ended December 31, 2024, Halliburton incurred a charge of $82 million, primarily due to the impairment of an investment in Argentina and currency devaluation in Egypt.(c)The income tax provision during the year ended December 31, 2025, includes a $125 million tax expense associated with a valuation allowance recorded against our United States foreign tax credits, an $86 million discrete tax benefit from the FDII deduction attributable to a royalty prepayment, as well as the tax effect on impairments and other charges, and the impairment of an investment in Argentina. The income tax provision during the year ended December 31, 2024, includes a $41 million tax benefit associated with a partial release of a valuation allowance on deferred tax assets based on market conditions, as well as the tax effects on impairments and other charges, the impairment of an investment in Argentina, and Egypt currency impact.See Footnote Table 2 for Reconciliation of Operating Income to Adjusted Operating Income.See Footnote Table 4 for Reconciliation of Net Income to Adjusted Net Income. International installation and retrieval services using the Remote Operated Controls Systems to revise or update publicly any forward-looking statements for any reason, except as “I am pleased with Halliburton’s fourth quarter performance and the way we closed out 2025. (ROCS) technology to Shell. ROCS is a compact, umbilical-less control system that required by law. We outperformed our expectations and it is clear that Halliburton’s strategy and value International revenue in the fourth quarter of 2025 was $3.5 billion, an increase of 7% when replaces conventional hydraulic setups, which can reduce surface pressure risks and proposition deliver differentiated results,” commented Jeff Miller, Chairman, President and compared to the third quarter of 2025. minimize personnel exposure. Deployed in the Norwegian Continental Shelf, West CEO. Africa, and the Gulf of America, ROCS set a recent global benchmark with the Latin America revenue in the fourth quarter of 2025 was $1.1 billion, an increase of 7% installation of a tubing hanger at 8,458 ft - the deepest umbilical-less operation to “Halliburton’s international business is strong. Our collaborative value proposition is winning, sequentially. This increase was primarily driven by higher completion tool sales in Brazil and date. our technology is delivering and our growth engines are aligned with the evolution of the the Caribbean, and higher software sales in Mexico. Partially offsetting these increases were (a)Working capital includes receivables, inventories, and accounts payable.See Footnote Table 5 for Reconciliation of Cash Flows from Operating Activities to Free Cash Flow. market. lower activity across multiple product service lines in Mexico and decreased stimulation •Halliburton launched the StreamStar™ wired drill pipe interface system, a activity in Argentina. breakthrough solution that delivers real-time, high-speed data and continuous "In North America, we will continue our Maximize Value strategy. I expect North America is downhole power. This system enables faster, more accurate decisions and improves the first to respond when macro fundamentals improve. Europe/Africa/CIS revenue in the fourth quarter of 2025 was $928 million, an increase of orchestrated closed-loop automation. The StreamStar™ system is the first of its kind 12% sequentially. This increase was primarily driven by higher completion tool sales in the to minimize the use of downhole generators and lithium batteries. This allows a “I am confident in the outlook for our business and Halliburton’s ability to deliver leading North Sea, improved well construction activity and increased wireline activity in Africa, and shorter, more compact bottomhole assembly design that places sensors closer to the returns and capitalize on future growth opportunities,” concluded Miller. higher stimulation activity in Angola. bit for improved measurements and reliability. The result is faster, more accurate decisions that deliver reduced well construction time.