Liberty Energy (LBRT) investor relations material

Strategic positioning and business overview

• Delivers technology, infrastructure, and services for low-cost energy in North America, serving energy, industrial, and data center sectors.

• Second largest completions company in North America, with about 20% of onshore well completions and $4.0B in 2025 revenues.

• Fully integrated operations across frac, wireline, sand, tech development, engineering, manufacturing, and logistics.

• Liberty Power Innovations (LPI) offers distributed power, energy management, and storage solutions, targeting 3 GW deployment by 2029.

• Strategic relationships span advanced nuclear, geothermal, and battery storage, supporting a flexible, scalable energy platform.

Financial performance and returns

• Achieved a 14-year average Cash Return on Capital Invested (CROCI) of 23%, significantly outperforming S&P 500 and OSX averages.

• 2025 Adjusted EBITDA was $634M, with a $5.4B enterprise value and approximately 5,800 employees as of year-end 2025.

• Maintains a disciplined growth strategy, focusing on operational leverage, capital discipline, and balance sheet strength.

• Reconciliations for non-GAAP measures such as EBITDA, Adjusted EBITDA, and CROCI are provided, emphasizing transparency.

Integrated portfolio and competitive advantages

• Offers a comprehensive suite: hydraulic fracturing, wireline, digital tools, sand logistics, and power generation.

• Proprietary AI and predictive analytics optimize equipment performance and reduce downtime.

• Over 1,000 technicians maintain more than 3,500 rotating assets, ensuring reliability and scale.

• Broad geographic footprint across North America, with integrated supply chain and manufacturing capabilities.