Second Quarter 2026 Compared to First Quarter 2026 (Stated in millions) Second Quarter 2026 First Quarter 2026 Income Income Revenue Before Taxes Revenue Before Taxes Digital $ 697 $ 194 $ 640 $ 134 Reservoir Performance 1,556 232 1,594 257 Well Construction 2,742 417 2,797 424 Production Systems 3,771 586 3,508 497 All Other 505 142 443 113 Eliminations & other (299 ) (167 ) (261 ) (104 ) Corporate & other (1) (211 ) (228 ) Interest income (2) 23 20 Interest expense (3) (128 ) (116 ) Charges and credits (4) (69 ) (41 ) $ 8,972 $ 1,019 $ 8,721 $ 956 (1)Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. (2)Interest income excludes amounts that are included in the segments’ income ($5 million in the second quarter of 2026; $5 million in the first quarter of 2026). (3)Interest expense excludes amounts that are included in the segments’ income ($- million in the second quarter of 2026; $- million in the first quarter of 2026). (4)Charges and credits are described in detail in Note 2 to the Consolidated Financial Statements. Second-quarter 2026 revenue of $9.0 billion increased 3% compared to the first quarter of 2026 as broad-based growth across international markets—led by offshore activity in Latin America, Europe & Africa, and Asia—more than offset the impact of continued disruptions in the Middle East. Excluding the Middle East, revenue grew sequentially across all Divisions, supported by higher offshore activity, a rebound in U.S. unconventionals, and strong demand for production and recovery solutions. International revenue increased 3% sequentially despite the severe disruptions in the Middle East. Strong performances in Latin America, Europe & Africa and Asia more than offset the decline in the Middle East where revenue fell 13% sequentially to $1.66 billion. North America revenue increased 4% sequentially driven by higher sales of production chemicals, artificial lift, and valves in U.S. land, as well as increased revenue from Data Center Solutions. Digital Digital revenue of $697 million increased 9% sequentially, driven by a 25%, or $25 million, increase in Digital Exploration revenue resulting from higher sales of exploration data licenses and transfer fees. Sequential growth also benefited from $17 million in higher sales in Platforms & Applications. Digital pretax operating margin of 28%, expanded 683 basis points (“bps”) sequentially, primarily due to higher sales of exploration data licenses and transfer fees, as well as improved profitability in Digital Operations and Platforms & Applications. Reservoir Performance Reservoir Performance revenue of $1.6 billion decreased 2% sequentially, primarily due to lower evaluation, stimulation, and intervention activity resulting from operational disruptions related to the Middle East conflict. While activity in the Middle East began to recover in certain countries as conditions improved, operations in other markets remained constrained by production shut-ins and ongoing security challenges. Reservoir Performance pretax operating margin of 15% contracted 121 bps sequentially primarily due to lower profitability in evaluation and intervention activities. 20 Well Construction Well Construction revenue of $2.7 billion decreased 2% sequentially, reflecting the impact of disruptions associated with the Middle East conflict. The decline was partially offset by higher offshore drilling activity in Latin America. Well Construction pretax operating margin of 15% was essentially flat sequentially, as lower profitability in the Middle East was offset by improved profitability in other areas. Production Systems Production Systems revenue of $3.8 billion increased 7% sequentially, driven by strong growth in Latin America, Europe & Africa, Asia, and North America, despite a decline in the Middle East due to disruptions associated with the regional conflict. Sequential growth was supported by higher revenue from SLB OneSubsea, along with increased sales of artificial lift, valves, surface production systems, and completions. Production Systems pretax operating margin was 16%, expanding 138 basis points sequentially, driven by improved profitability in SLB OneSubsea and artificial lift. All Other All Other revenue of $505 million increased $63 million sequentially primarily due to 33%, or $46 million, higher revenue in Data Center Solutions. All Other pretax operating income of $142 million increased $29 million sequentially due to improved profitability in Data Center Solutions and Asset Performance Solutions (“APS”). Six Months 2026 Compared to Six Months 2025 (Stated in millions) Six Months 2026 Six Months 2025 Income Income Revenue Before Taxes Revenue Before Taxes Digital $ 1,337 $ 328 $ 1,177 $ 278 Reservoir Performance 3,150 489 3,391 596 Well Construction 5,539 841 5,940 1,140 Production Systems 7,279 1,083 5,773 962 All Other 948 255 1,145 317 Eliminations & other (560 ) (271 ) (391 ) (153 ) Corporate & other (1) (439 ) (347 ) Interest income (2) 43 66 Interest expense (3) (244 ) (283 ) Charges and credits (4) (110 ) (228 ) $ 17,693 $ 1,975 $ 17,035 $ 2,348 (1)Comprised principally of certain corporate expenses not allocated to the segments, stock-based compensation costs, amortization expense associated with certain intangible assets, certain centrally managed initiatives and other nonoperating items. (2)Interest income excludes amounts that are included in the segments’ income ($11 million in 2026; $- million in 2025). (3)Interest expense excludes amounts that are included in the segments’ income ($- million in 2026; $6 million in 2025). (4)Charges and credits are described in detail in Note 2 to the Consolidated Financial Statements. Six-month 2026 revenue of $17.7 billion increased 4%, or $658 million, year on year. Excluding the impact of the ChampionX acquisition in the third quarter last year, revenue declined year on year by 6%, or $1.05 billion. This decrease was largely attributable to a 12%, or $0.7 billion, decline in revenue in the Middle East due to operational disruptions related to the conflict in the region. Digital Digital revenue of $1.3 billion increased 14%, or $160 million, year on year, driven by a $120 million increase in Digital Operations and $55 million of higher sales of exploration data licenses and transfer fees. Digital pretax operating margin of 25% increased 93 bps year on year driven by the higher Digital Exploration sales and improved profitability in Digital Operations. 21 Reservoir Performance Reservoir Performance revenue of $3.1 billion decreased 7% year on year due to lower stimulation and intervention activity primarily driven by operational disruptions caused by the Middle East conflict. Reservoir Performance pretax operating margin of 16% contracted 208 bps year on year primarily due to the operational disruption in the Middle East. Well Construction Well Construction revenue of $5.5 billion decreased 7% year on year primarily due to lower activity resulting from the Middle East conflict. Well Construction pretax operating margin of 15% contracted 401 bps year on year primarily due to lower profitability as a result of the Middle East conflict compounded by pricing headwinds in select markets. Production Systems Production Systems revenue of $7.3 billion increased 26% year on year from the acquired ChampionX production chemicals and artificial lift businesses, which contributed $1.7 billion of revenue and $307 million in pretax operating income during the first six months of 2026. Excluding the impact of the acquisition, Production Systems revenue for the first six months of 2026 decreased 3% year on year primarily due to the disruptions from the Middle East conflict. Production Systems pretax operating margin of 15% contracted 178 bps year on year due to lower profitability in surface production systems, SLB OneSubsea and completions. All Other All Other revenue of $948 million decreased $197 million year on year driven by the absence of $215 million in APS revenue following the divestiture of the Palliser asset in Canada in the second quarter of 2025 coupled with reduced revenue in SLB Capturi. All Other pretax operating income of $255 million decreased $62 million year on year largely due to lower profitability in APS projects following the Palliser divestiture. Interest & Other Income Interest & other income consisted of the following: (Stated in millions) Second Quarter First Quarter Six Months 2026 2026 2026 2025 Earnings of equity method investments $ 48 $ 18 $ 65 $ 115 Interest income 28 25 54 66 Gain on sale of Palliser APS project - - - 149 $ 76 $ 43 $ 119 $ 330 Other Research & engineering and General & administrative expenses, as a percentage of Revenue were as follows: Second First Quarter Quarter Six Months 2026 2026 2026 2025 Research & engineering 1.9 % 1.9 % 1.9 % 2.1 % General & administrative 0.9 % 1.1 % 1.0 % 1.1 % Charges and Credits SLB recorded charges and credits during the first six months of 2026 and 2025. These charges and credits, which are summarized below, are more fully described in Note 2 to the Consolidated Financial Statements. 2026: 22 (Stated in millions) Noncontrolling Pretax Charge Tax Benefit Interests Net First quarter: Merger and integration $ 41 $ 8 $ 2 $ 31 Second quarter: Merger and integration 69 19 3 47 $ 110 $ 27 $ 5 $ 78 2025: (Stated in millions) Noncontrolling Pretax Charge Tax Benefit Interests Net First quarter: Workforce reductions $ 158 $ 10 $ - $ 148 Merger and integration 49 1 4 44 Second quarter: - Impairment of equity method investment 69 12 - 57 Workforce reductions 66 3 - 63 Merger and integration 35 4 4 27 Gain on sale of Palliser APS project (149 ) (4 ) - (145 ) $ 228 $ 26 $ 8 $ 194 Liquidity and Capital Resources Details of the components of liquidity as well as changes in liquidity are as follows: (Stated in millions) Jun. 30, Jun. 30, Dec. 31, Components of Liquidity: 2026 2025 2025 Cash $ 2,743 $ 3,236 $ 3,036 Short-term investments 1,328 511 1,176 Short-term borrowings and current portion of long-term debt (1,658 ) (2,807 ) (1,894 ) Long-term debt (11,140 ) (10,891 ) (9,742 ) Net debt (1) $ (8,727 ) $ (9,951 ) $ (7,424 ) 23 Six Months Ended Jun. 30, Changes in Liquidity: 2026 2025 Net income $ 1,576 $ 1,877 Depreciation and amortization (2) 1,397 1,273 Gain on sale of Palliser APS project - (149 ) Impairment of equity method investment - 69 Earnings of equity method investments, less dividends received (21 ) (47 ) Deferred taxes (5 ) (60 ) Stock-based compensation expense 179 168 Increase in working capital (1,344 ) (1,401 ) Other 64 72 Cash flow from operations 1,846 1,802 Capital expenditures (802 ) (769 ) APS investments (226 ) (225 ) Exploration data costs capitalized (125 ) (83 ) Free cash flow (3) 693 725 Stock repurchase program (1,099 ) (2,300 ) Dividends paid (866 ) (773 ) Proceeds from employee stock purchase plan 105 105 Proceeds from exercise of stock options 106 8 Business acquisitions and investments, net of cash acquired and debt assumed (249 ) (47 ) Proceeds from the sale of Palliser APS project - 316 Taxes paid on net settled stock-based compensation awards (63 ) (55 ) Other (42 ) (30 ) Increase in net debt before impact of changes in foreign exchange rates (1,415 ) (2,051 ) Impact of changes in foreign exchange rates on net debt 112 (495 ) Increase in net debt (1,303 ) (2,546 ) Net debt, beginning of period (7,424 ) (7,405 ) Net debt, end of period $ (8,727 ) $ (9,951 ) (1)“Net debt” represents gross debt less cash and short-term investments. Management believes that Net debt provides useful information to investors and management regarding the level of SLB’s indebtedness by reflecting cash and investments that could be used to repay debt. Net debt is a non-GAAP financial measure that should be considered in addition to, not as a substitute for or superior to, total debt. (2)Includes depreciation of fixed assets and amortization of intangible assets, exploration data costs, and APS investments. (3)“Free cash flow” represents cash flow from operations less capital expenditures, APS investments and exploration data costs capitalized. Management believes that free cash flow is an important liquidity measure for the company and that it is useful to investors and management as a measure of our ability to generate cash. Once business needs and obligations are met, this cash can be used to reinvest in the company for future growth or to return to shareholders through dividend payments or share repurchases. Free cash flow does not represent the residual cash flow available for discretionary expenditures. Free cash flow is a non-GAAP financial measure that should be considered in addition to, not as a substitute for or superior to, cash flow from operations. Key liquidity events during the first six months of 2026 and 2025 included: •Capital investments (consisting of capital expenditures, APS investments and exploration data capitalized) were $1.2 billion during the first six months of 2026 compared to $1.1 billion during the first six months of 2025. Capital investments for the full year 2026 are expected to be approximately $2.5 billion. •In January 2026, SLB announced a 3.5% increase to its quarterly cash dividend from $0.285 per share of outstanding common stock to $0.295 per share, beginning with the dividend payable in April 2026. Dividends paid during the first six months of 2026 and 2025 were $866 million and $773 million, respectively. •During the second quarter of 2026, SLB issued $500 million of 4.55% Senior Notes due 2031, $500 million of 4.80% Senior Notes due 2033, and $1.0 billion of 5.15% Senior Notes due 2036. •During the second quarter of 2025, SLB completed the sale of its interest in the Palliser APS project in Canada in exchange for net cash proceeds of $338 million, of which $22 million were received in the third quarter of 2025. •As of June 30, 2026, SLB had cumulatively repurchased approximately $7.0 billion of SLB common stock under its $10 billion share repurchase program. The following table summarizes the activity under the share repurchase program: 24 (Stated in millions, except per share amounts) Total cost Total number Average price of shares of shares paid per purchased purchased share Six months ended June 30, 2026 $ 1,099 21.2 $ 51.92 Six months ended June 30, 2025 $ 2,300 56.8 $ 40.51 As of June 30, 2026, SLB had $4.1 billion of cash and short-term investments on hand and committed debt facility agreements with commercial banks aggregating $5.0 billion, all of which was available. SLB believes these amounts, along with cash generated by ongoing operations, are sufficient to meet future business requirements for the next 12 months and beyond. SLB has a global footprint in more than 100 countries. As of June 30, 2026, only three of those countries individually accounted for greater than 5% of SLB’s net receivable balance. Only one of those countries, the United States, represented greater than 10% of such receivables. FORWARD-LOOKING STATEMENTS This second-quarter 2026 Form 10-Q, as well as other statements we make, contain “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “predict,” “plan,” “potential,” “projected,” “projections,” “precursor,” “forecast,” “outlook,” “expectations,” “estimate,” “intend,” “anticipate,” “ambition,” “goal,” “target,” “scheduled,” “think,” “should,” “could,” “would,” “will,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements about SLB’s financial and performance targets and other forecasts or expectations regarding, or dependent on, its business outlook; growth for SLB as a whole and for each of its Divisions (and for specified business lines, geographic areas, or technologies within each Division); the benefits of the ChampionX acquisition, including the ability of SLB to integrate the ChampionX business successfully and to achieve anticipated synergies and value creation from the acquisition; oil and natural gas demand and production growth; oil and natural gas prices; forecasts or expectations regarding energy transition and global climate change; improvements in operating procedures and technology; capital expenditures by SLB and the oil and gas industry; the business strategies of SLB, including digital and “fit for basin,” as well as the strategies of SLB’s customers; SLB’s capital allocation plans, including dividend plans and share repurchase programs; SLB’s APS projects, joint ventures, and other alliances; the impact of ongoing or escalating conflicts on global energy supply; access to raw materials; future global economic and geopolitical conditions; future liquidity, including free cash flow; and future results of operations, such as margin levels. These statements are subject to risks and uncertainties, including, but not limited to, changing global economic and geopolitical conditions; changes in exploration and production spending by SLB’s customers, and changes in the level of oil and natural gas exploration and development; the results of operations and financial condition of SLB’s customers and suppliers; SLB’s inability to achieve its financial and performance targets and other forecasts and expectations; SLB’s inability to achieve net-zero carbon emissions goals or interim emissions reduction goals; general economic, geopolitical and business conditions in key regions of the world; foreign currency risk; inflation; changes in monetary policy by governments; tariffs; pricing pressure; weather and seasonal factors; unfavorable effects of health pandemics; availability and cost of raw materials; operational modifications, delays or cancellations; challenges in SLB’s supply chain; production declines; the extent of future charges; SLB’s inability to recognize efficiencies and other intended benefits from its business strategies and initiatives, such as digital or new energy, as well as its cost reduction strategies; changes in government regulations and regulatory requirements, including those related to offshore oil and gas exploration, radioactive sources, explosives, chemicals, and climate-related initiatives; the inability of technology to meet new challenges in exploration; the competitiveness of alternative energy sources or product substitutes; and other risks and uncertainties detailed in this Form 10-Q and our most recent Form 10-K and Forms 8-K filed with or furnished to the SEC. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in our forward-looking statements. Forward-looking and other statements in this Form 10-Q regarding our environmental, social, and other sustainability plans and goals are not an indication that these statements are necessarily material to investors or required to be disclosed in our filings with the SEC. In addition, historical, current, and forward-looking environmental, social, and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Statements in this Form 10-Q are made as of July 29, 2026, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise.