Weatherford International 3Q 2021 Earnings Presentation

INVESTOR PRESENTATION

WEATHERFORD INTERNATIONAL PLC

Q3 | 2021

Q3'21 EARNINGS PRESENTATION	2

DISCLAIMER

This presentation contains projections and forward-looking statements concerning, among other things, Weatherford International plc's ("Weatherford" or the "Company") quarterly and full-year revenues, operating income and losses, adjusted EBITDA, unlevered free cash flow, forecasts or expectations regarding business outlook, prospects for its operations and expectations regarding future financial results which are subject to certain risks, uncertainties and assumptions. These risks and uncertainties, which are more fully described in Weatherford's reports and registration statements filed with the SEC, include but are not limited to risks associated with the price and price volatility of oil and natural gas; disease outbreaks and other public health issues, including COVID-19 pandemic and COVID-19 variants, and their impact on the global economy; Weatherford's preparedness for and response to the ongoing COVID-19 pandemic and COVID-19 variants and the impact of logistical issues and business interruptions associated with ongoing COVID-19 pandemic and COVID-19 variants on Weatherford and its customers and suppliers; the macroeconomic outlook for the oil and gas industry; commodity prices and demand for our goods and services; our ability to generate cash flow from operations to fund our business; and our ability to realize cost savings and business enhancements from our revenue and cost improvement efforts. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary materially from those currently anticipated.

This presentation includes non-GAAP financial measures which we believe provide users of our financial information with additional meaningful comparisons between current results and results of prior periods as well as comparisons with peer companies. The non-GAAP amounts should not be considered as substitutes for operating income, provision for income taxes, net income or other data prepared and reported in accordance with GAAP, but should be viewed in addition to the Company's reported results prepared in accordance with GAAP. Please refer to the appendices included herein and our third quarter earnings release for a reconciliation of GAAP to the non-GAAP financial measures. All financial results in this presentation are unaudited.

©2021 Weatherford International plc. All rights reserved.

Q3'21 EARNINGS PRESENTATION

Q3 2021 RESULTS SUMMARY

EXPANDING OUR MARGINS

• Operating income of $71 million
• Adj. EBITDA margins grew more than 380 basis points sequentially
• Higher service mix drove sequential margin expansion
• Continued operating improvements in NAM

3

SAFETY & SERVICE QUALITY

• Achieved 14 years LTI-free operations for artificial lift in Argentina
• Received commendation from NOC in the Middle East for performance excellence in resolving production automation challenges

ENHANCING OUR LIQUIDITY

1. • Upgraded by S&P in July'21
   • Placed on Positive Credit watch by S&P in Oct'21
   • Redeemed $200 million of unsecured notes
   • Refinanced $2.1 billion of debt, extending maturities by ~4 years and reducing interest expense by ~$71 million per year
   • Q3'21 free cash flow of $111 million
   • Total cash[1] of $1.4 billion as of Sep. 30, 2021
2. Includes cash and cash equivalents and restricted cash

SIGNIFICANT

DEBT RESTRUCTURING

LEVERAGING OUR

TECHNOLOGY AND PORTFOLIO

• Successful introduction of Vero® mechanized operations for an IOC in US GoM
• Successful introduction of Magnus® and RipTide® for an NOC in Latin America
• First introduction of PressurePro® MPD in Central Asia for an IOC
• First liner-hanger job supported by AccuView® system in Asia
• Multiple contract awards expanding our ForeSite® platform in U.S., Latin America, ME, and Asia

©2021 Weatherford International plc. All rights reserved.

Q3'21 EARNINGS PRESENTATION

STRATEGIC VECTORS IN ACTION

ONGOING PORTFOLIO STRENGTH	GROWING DIGITAL FOOTPRINT
MPD: Expansion of PressurePro® control system	Centro™	Victus™	Vero®
	Well Construction	Intelligent	Automated
	Platform	MPD	Connection
TRS: Expansion of Vero® technologies			Integrity
	AccuView®	CygNet®	ForeSite®
FRE: World-firstshallow-angle sidetrack	Real-Time	IoT and SCADA	Suite
Remote Ops	Platform
operation in 9 5/8-in. casing

Increasing adoption of ForeSite platform in SAM

4

Cementing Products: First-time award with major South America IOC

ISP Synergies among market-leading product lines enable us to win key integrated projects

WFRD production software and automation receives NOC award for performance excellence

Successful pilot leads to implementing ForeSite technologies for US operator

16th annual Weatherford Enterprise Software Conference draws digital customers worldwide

NEW ENERGY FOR A BETTER TOMORROW

Geothermal: Innovative answers to harness the Earth's energy, such as using a novel application of MPD to reactivate an existing geothermal well in Germany

Plug and Abandonment: Successful delivery of a multi-well P&A campaign for an IOC in GoM, in addition to multiple successful P&A operations across Asia and Europe

Carbon Capture, Utilization, and Storage:

Leveraging our existing portfolio and knowledge base to provide front-end engineering that operationalizes our customers' CCUS initiatives

©2021 Weatherford International plc. All rights reserved.

Q3'21 EARNINGS PRESENTATION

CUSTOMER & TECHNOLOGY HIGHLIGHTS

5

MEXICO

Early production delivered in a new field development through an Integrated approach leveraging our drilling, completion, and remote-monitoring technologies

COLOMBIA

3-year contract awarded for ForeSite® platform, expanding our market-leading position in the country

EUROPE AND AFRICA

Vero® technologies increased expansion with various customers. Work share increased after successful trials

NORTH SEA

Our Integrated approach saved over 13 days in a challenging offshore HPHT drilling campaign by leveraging DS, MPD, and TRS

KAZAKHSTAN

PressurePro® MPD control system introduced to region, enabling an IOC to optimize future well designs

MIDDLE EAST

Drilling Services sets the record for longest horizontal section drilled in country for an NOC

Multimillion-dollar contract won for artificial lift services based on reliability, experience, and service quality

Single-trip operation to run the longest liner in the region saved an NOC over 3 days

Our rotary drilling technologies introduced to NOC, achieved ~30% faster- than-planned ROPs with Magnus® RSS and RipTide® reamer

NIGERIA

Victus™ intelligent MPD enabled an IOC to reach planned TD in a challenging gas well. Operated over 1,125 hours with zero NPT.

GERMANY

MPD technology enabled a customer to revive an existing geothermal well

INDONESIA

First shallow-angle sidetrack performed globally with QuickCut™ milling technology, enabling a customer to reach target zone in exploration well

TECHNOLOGY

AWARD

ForeSite® Edge receives a Special Meritorious Award for Engineering Innovation from Hart Energy

©2021 Weatherford International plc. All rights reserved.