ChampionX Third Quarter 2021 Earnings Call

Earnings Conference Call

Third Quarter 2021

October 28, 2021

8:00am Central Time

Notices & Disclaimers

Forward-Looking Statements

This news release contains statements relating to future actions and results, which are "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements relate to, among other things, ChampionX's market position and growth opportunities. Forward-looking statements include, statements related to ChampionX's expectations regarding the performance of the business, financial results, liquidity and capital resources of ChampionX. Forward-looking statements are subject to inherent risks and uncertainties that could cause actual results to differ materially from current expectations, including, but not limited to, changes in economic, competitive, strategic, technological, tax, regulatory or other factors that affect the operation of ChampionX's businesses. You are encouraged to refer to the documents that ChampionX files from time to time with the Securities and Exchange Commission ("SEC"), including the "Risk Factors" in ChampionX's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and in ChampionX's other filings with the SEC. Readers are cautioned not to place undue reliance on ChampionX's forward-looking statements. Forward-looking statements speak only as of the day they are made and ChampionX undertakes no obligation to update any forward-looking statement, except as required by applicable law.

Non-GAAP Measures

This investor presentation, and the related discussions, contains certain non-GAAP financial measures, which should be considered only as supplemental to, and not as superior to financial measures prepared in accordance with generally accepted accounting principles ("GAAP"). Please refer to our earnings release for third quarter 2021 results for a reconciliation of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with GAAP and definitions and calculation methodologies of defined terms used in this investor presentation. For additional information about our non-GAAP financial measures, see our filings with the SEC.

About Non-GAAP Measures

In addition to financial results determined in accordance with generally accepted accounting principles in the United States ("GAAP"), this presentation presents non-GAAP financial measures. Management believes that adjusted EBITDA, adjusted EBITDA margin, adjusted segment EBITDA, and adjusted segment EBITDA margin, provide useful information to investors regarding the Company's financial condition and results of operations because they reflect the core operating results of our businesses and help facilitate comparisons of operating performance across periods. In addition, free cash flow and free cash flow to adjusted EBITDA ratio are used by management to measure our ability to generate positive cash flow for debt reduction and to support our strategic objectives. Although management believes the aforementioned non-GAAP financial measures are good tools for internal use and the investment community in evaluating ChampionX's overall financial performance, the foregoing non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. A reconciliation of these non-GAAP measures to the comparable GAAP measures is included in the financial tables accompanying our earnings release for the third quarter 2021 results.

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Copyright 2021 ChampionX. All rights reserved.

Soma Somasundaram

President and Chief Executive Officer

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Copyright 2021 ChampionX. All rights reserved.

Our Organizational Purpose Drives Us Every Day

United behind a

common purpose

Guided by our shared

culture and

operating principles

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Copyright 2021 ChampionX. All rights reserved.

ESG Spotlight

ChampionX named a Best Energy Workplace winner by ALLY Energy

• On Oct. 26, ChampionX was named a Best Energy Workplace winner by ALLY Energy. We were selected from nearly 400 nominations globally from oil and gas, power and utilities, wind, solar, climate tech startups, and academia.
• This award was in recognition of our continuous improvement culture, employee survey feedback, our suite of benefits programs, our continuing education and development programs, our flex-work and family-friendly programs, our D&I programs, including Employee Resource Groups (ERGs), as well as our community projects.

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Copyright 2021 ChampionX. All rights reserved.