RES

• Leadership Update

  • Current President and CEO Ben Palmer will retire and step down from the board by the end of 2026 after 30 years with RPC
  • The board is conducting an external/internal search for a successor, expected to conclude before year-end 2026; Palmer will remain in an advisory role to support a smooth transition
  • Management remains focused on disciplined execution, prudent capital allocation, and delivering long-term shareholder value during the transition

• Product and Operational Progress

  • The ThruTubing Solutions downhole tools business delivered strong 10% sequential revenue growth, with over 20% sequential growth in the Rocky Mountain region. The business continues to benefit from industry trends toward more complex and longer laterals, which are well suited to RPC's differentiated technology
  • RPC expanded the availability of its MetalMax metal-on-metal power section to new districts, increasing its addressable market and penetration; the product reduces non-productive time by lowering the number of required trips out of the well, enabling entry into new markets previously served by traditional components
  • Within Cut Pressure Controls, the snubbing business grew 14% sequentially; a newly delivered big bore snubbing unit was mobilized to a multi-project focused on regulatory-mandated cavern gas storage inspections, supporting RPC's diversification beyond well completions
  • Coil tubing, the largest service line in Cut Pressure Controls, grew 6% sequentially, with strong growth in Elk City (serving multiple basins), Pennsylvania, and Michigan; all larger diameter units saw increased utilization, with the 2 and 7H unit fully utilized
  • Wireline market conditions remain highly competitive; RPC maintained pricing discipline but saw a 16% sequential revenue decline due to customer activity cuts and lost crews to aggressive competitor pricing
  • Pressure pumping saw a 1% sequential revenue decline; improved pricing was offset by lower pump hours, but improved job mix (lower materials, supplies, and fuel costs) boosted profit margins

• 2026 capital expenditure guidance has been revised upward to a range of $170 million to $190 million, up from the prior range, to accommodate targeted growth investments in areas expected to deliver strong full-cycle returns and further differentiate RPC's service offerings
• Due to project timing and lead times, some of this increased capital expenditure may occur in 2027 rather than 2026; management will continue to adjust spending based on project returns and available opportunities
• Management does not expect significant increases in pressure pumping pricing without meaningful changes in industry activity levels, and has no plans to reactivate idled fleets at current activity levels
• No significant near-term change in overall industry activity is expected, though management acknowledges the market is dynamic and RPC is positioned to respond if conditions change

Total company revenues for Q2 2026 increased 1% sequentially from Q1 2026 to $461 million.

• Technical Services: Represented 95% of total Q2 2026 revenues, with sequential revenue growth of 1%. Within this segment, key service line performance was:
  • Pressure pumping: 30.3% of total revenue, 1% sequential revenue decrease; slightly improved pricing was offset by lower pump hours
  • Downhole tools (ThruTubing Solutions): 25.3% of total revenue, 10% sequential revenue growth
  • Wireline: 19.2% of total revenue, 16% sequential revenue decrease
  • Coil tubing (within Cut Pressure Controls): 8.8% of total revenue, 6% sequential revenue growth; the overall Cut Pressure Controls segment grew 8% sequentially
  • Cementing: 6.2% of total revenue
  • Rental tools: 3.6% of total revenue
• Support Services: Represented 5% of total Q2 2026 revenues, with 11% sequential revenue growth

The six listed service lines combined accounted for 94% of total Q2 2026 revenue. Other financial segment metrics were not broken out separately beyond the consolidated company results.

• Forward-looking statements are inherently subject to a range of known and unknown risks, which are outlined in RPC's public filings including its 10-K and recent press release
• Industry activity levels remain subdued, and geopolitical volatility has created uncertainty around commodity price trends, leading E&P operators to be cautious about making new investment decisions, which limits near-term activity growth
• The wireline market is currently highly competitive, with aggressive competitor pricing leading to lost crews and reduced revenue
• Working capital has been impacted by rising revenues and the timing of customer payments

Q: Are the upgraded large-diameter coil tubing units focused on a single basin, or will RPC deploy them across multiple U.S. basins? What is the outlook for demand for additional upgraded units over the next few years? / A: Currently, the primary focus for these upgraded units is the South Texas/VidCon and Permian basins, where most of the upgrades have been completed. All coil tubing units are mobile, so deployment can shift based on customer relationships and emerging opportunities, but management does not expect major basin shifts in the near term.

Q: Do you see opportunities to deploy incremental fracking horsepower in the current market environment? / A: Management does not expect to add significant new incremental horsepower at this time. The company is continuing a disciplined process of selective upgrades and refurbishments to existing older fleets, with a focus on shifting to newer DGB-type technology. This upgrade process is funded by ongoing business cash flow, and management remains prudent by prioritizing returns rather than aggressive expansion.