Business Description

information about us, including our corporate governance policies, code of business conduct and charters for the committees of our Board of Directors, can be found on our website, and such information provided on our website, is not incorporated by reference into this Form 10-K. On our website we make available, free of charge, our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, proxy statements and amendments to those reports filed or furnished as soon as reasonably practicable after we electronically file or furnish them to the Securities and Exchange Commission (“SEC”). The SEC maintains a website that contains our reports, proxy and information statements, and our other SEC filings. The address of that site is www.sec.gov. Strategy Our objective is to create value for our shareholders across industry cycles by ensuring sustainable profitability and cash flow generation. We aim to accomplish this goal with a comprehensive suite of products and services, differentiated technologies, strong customer focus, operational rigor, disciplined capital management, and a commitment to safety and operational efficiency. Our customers’ objectives are continually evolving and are currently focused on disciplined capital and operational expenditures, generating investor and shareholder returns, reducing emissions, participating in the energy transition, and enhancing safety. We have aligned our technology development, capital spending and operations around these objectives and expanded our role as a market leading provider of solutions that assist our customers in addressing their key operational challenges, not just in conventional reservoirs but also in mature fields, unconventionals, offshore, and in digitalization and automation. Our focus is on the deployment of our five strategic priorities of: • Customer Experience enhancement by directly addressing customer needs of improved efficiency, value creation and safety; • Creating the Future through continued investment in research and development and building our Digital & New Energy portfolio and capabilities; • Organizational Vitality to harness employee engagement, attract and retain talent, develop our people and increase leadership effectiveness; • Lean Operations to simplify and drive waste out of the business for increased productivity, quality and improved service levels; and • Financial Performance that drives value creation across economic cycles with sustainable profitability, cash flow generation and top-tier return on capital. Our strategic focus is enabled by a comprehensive capital allocation framework that includes: • Improved through-cycle resilience from a strong balance sheet; • Judicious business investments in technology and infrastructure upgrades to drive portfolio differentiation and structural cost efficiencies leading to improved returns; • Strategic and disciplined mergers and acquisitions that align with our portfolio strategy; and • Shareholder returns program as introduced in 2024 with a $500 million share repurchase authorization over three years. Annual dividend program recently increased from $1.00 to $1.10 per share. Weatherford International plc – 2025 Form 10-K | 2 Table of Contents Item 1 | Business Markets Demand for our industry’s products and services is driven by many factors, including commodity prices, the number of oil and gas rigs and wells drilled, depth and drilling conditions of wells, number of well completions, age of existing wells, reservoir depletion, regulatory environments and the level of workover activity worldwide. Technology is critical to the energy services marketplace as a result of the maturity of the world’s oil and natural gas reservoirs, declining production rates and the nature of complex well designs, in both land and offshore markets. Customers continue to seek, test and use technologies that accelerate and optimize production at an increasing rate. We invest substantial resources into building our technology offerings, which enable our customers to evaluate, develop and produce from their oil and natural gas reservoirs more efficiently. Our products and services are designed to enable our customers to increase production rates while reducing their costs of drilling and production.