Cactus : November Investor Presentation 2022

Important Disclosures

Non-GAAP Measures

This presentation includes references to EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, and EBIT, which are not measures calculated in accordance with accounting principles generally accepted in the United States of America ("GAAP"). A reconciliation of EBITDA, Adjusted EBITDA and EBIT to net income, the most directly comparable measure calculated in accordance with GAAP, is provided in the Appendix included in this presentation. While management believes such measures are useful for investors, these measures should not be used as a replacement for financial measures that are calculated in accordance with GAAP.

Forward-Looking Statements

The information in this presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as

amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this presentation, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this presentation, the words "may," "hope," "potential," "could," "believe," "anticipate," "intend," "estimate," "expect," "project" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Cactus' current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the operation of our business. Consequently, no forward-looking statements can be guaranteed. When considering these forward-looking statements, you should keep in mind the risk factors and other factors noted in the Company's Annual Report on Form 10-K, any Quarterly Reports on Form 10-Q and the other documents that the Company files from time to time with the Securities and Exchange Commission. These documents are available on the Company's website at https://cactuswhd.com/investors/sec-filings/ or through the SEC's Electronic Data Gathering and Analysis Retrieval (EDGAR") system at www.sec.gov. The risk factors and other factors noted therein could cause actual results to differ materially from those contained in any forward-looking statement. We disclaim any duty to update and do not intend to update any forward- looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this presentation.

Industry and Market Data

This presentation has been prepared by Cactus and includes market data and other statistical information from third-party sources, including independent industry publications, government publications or other published independent sources. Some data is also based on Cactus' good faith estimate. Although Cactus believes these third-party sources are reliable as of their respective dates, Cactus has not independently verified the accuracy or completeness of this information.

Information Presented

Except as otherwise indicated or required by the context, references in this presentation to the "Company," "Cactus," "we," "us" and "our" refer to (i) Cactus Wellhead, LLC ("Cactus LLC") and its consolidated subsidiaries prior to the completion of our IPO and (ii) Cactus, Inc. ("Cactus Inc.") and its consolidated subsidiaries (including Cactus LLC) following the completion of our IPO on February 12, 2018. Cactus LLC is our accounting

predecessor.

2

Experienced Executive Team

Scott Bender

President & CEO

Joel Bender

Senior Vice President & Chief Operating Officer

Steven Bender

Vice President of

Operations

Steve Tadlock

Vice President, Chief

Financial Officer &

Treasurer

William Marsh

Vice President of

Administration and

General Counsel

• Mr. Bender has served as President and CEO since co-founding Cactus Wellhead, LLC ("Cactus LLC") in 2011.
• Mr. Bender previously was President of Wood Group Pressure Control from 2000 to 2011.
• Mr. Bender successfully built and monetized Ingram Cactus Company (sold to Cameron in 1996) and led Wood Group
  Pressure Control's profitable expansion until its sale to General Electric in 2011.
• Mr. Bender graduated from Princeton University in 1975 with a Bachelor of Science in Engineering and from the University of Texas at Austin in 1977 with a Master of Business Administration.
• Mr. Bender has served as Senior Vice President and COO since co-founding Cactus LLC in 2011.
• Mr. Bender previously was Senior Vice President of Wood Group Pressure Control from 2000 to 2011.
• Mr. Bender successfully built and monetized Ingram Cactus Company (sold to Cameron in 1996) and led Wood Group
  Pressure Control's profitable expansion until its sale to General Electric in 2011.
• Mr. Bender graduated from Washington University in 1981 with a Bachelor of Science in Engineering and from the University of Houston in 1985 with a Master of Business Administration.
• Mr. Bender has served as Vice President of Operations of Cactus LLC since 2011, managing all US service center and field operations.
• Mr. Bender previously was Rental Business Manager of Wood Group Pressure Control from 2005 to 2011.
• Mr. Bender graduated from Rice University in 2005 with a Bachelor of Arts in English and Hispanic Studies and from the University of Texas at Austin in 2010 with a Master of Business Administration.
• Mr. Tadlock has served as Vice President, Chief Financial Officer & Treasurer, since March 2019.
• Mr. Tadlock previously served as Vice President and Chief Administrative Officer since March 2018 and has also served as VP of Corporate Services since June 2017. He has worked with Cactus LLC since its founding in 2011 as a Board observer.
• Mr. Tadlock previously worked at Cadent Energy Partners, where he served as a Partner from 2014 to 2017.
• Mr. Tadlock graduated from Princeton University in 2001 with a Bachelor of Science in Engineering and from the Wharton School at the University of Pennsylvania in 2007 with a Master of Business Administration.
• Mr. Marsh has served as Vice President of Administration and General Counsel since May 2022.
• Mr. Marsh previously had been of counsel with the law firm of Bracewell LLP from 2021 to 2022.
• Mr. Marsh previously was with the Baker Hughes Company, most recently serving as Chief Legal Officer from 2013 to 2021.
• Mr. Marsh obtained a Bachelor of Science in Accounting in 1985 and a Juris Doctor in 1989 from Brigham Young University.

3

Investment Highlights

	1	A Leading Pure Play Equipment Solutions Provider
	for Onshore Markets

	2	Innovative and Differentiated Products & Services
	that Sustain Relative Margin Resilience

3 Dynamic Operating and Manufacturing Capabilities

4 Strong Margins and Free Cash Flow Generation

	5	Experienced Management Team with Significant
	Equity Ownership & Strong Industry Relationships

Through-Cycle Outperformance

4

Company Overview

Cactus designs, manufactures, sells and rents highly engineered products which generate

improved drilling and completions efficiencies while enhancing safety

2022 YTD Revenue by Type

Field

Service

and

Other

20%

Rental

15%Product

65%

*Product Revenue Includes Drilling and Production

Consumables

Selected Active Basins

◼ Bakken

◼ DJ / Powder River

• Eagle Ford ◼ Marcellus / Utica

◼ Permian

◼ Haynesville

◼ SCOOP/STACK ◼ Cooper, Australia

Revenue ($ in millions)

$628	$667

$544

$439

$341

$349

2017

2018

2019

2020

2021

YTD 2022 Ann.

Adjusted EBITDA(1) ($ in millions)

	$213	$229	$214
$112		$121	$120

			2017	2018	2019	2020	2021	YTD 2022 Ann.
Adj. EBITDA(1)
as % of	33%	39%	36%	35%	27%	32%
Revenue
	Adjusted EBITDA(1) - Net Capital Expenditures(2) as % of Revenue
			24%	27%	28%	30%	25%	28%

2017

2018

2019

2020

2021

YTD 2022 Ann.

Note: YTD 2022 Ann. represents the first three quarters of the year annualized.	5
Source: Company filings.

1. EBITDA and Adjusted EBITDA are non-GAAP financial measures. The Appendix at the back of this presentation contains a reconciliation of EBITDA and Adjusted EBITDA to net income, the most comparable financial measure calculated in accordance with GAAP.
2. Net Capital Expenditures equals net cash flows from investing activities.