# EDGAR Filing Document

**Accession Number:** 0001603923
**File Stem:** 0001603923-26-000047
**Filing Date:** 2026-4
**Character Count:** 115447
**Document Hash:** 03077dec0ef898df938aa6e5528b5d75
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001603923-26-000047.hdr.sgml**: 20260422

**ACCESSION NUMBER**: 0001603923-26-000047

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 66

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260422

**DATE AS OF CHANGE**: 20260422

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Weatherford International plc
- **CENTRAL INDEX KEY:** 0001603923
- **STANDARD INDUSTRIAL CLASSIFICATION:** OIL & GAS FILED MACHINERY & EQUIPMENT [3533]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 980606750
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36504
- **FILM NUMBER:** 26884231

**BUSINESS ADDRESS:**
- **STREET 1:** 2000 ST. JAMES PLACE
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77056
- **BUSINESS PHONE:** 713.836.4000

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 70 SIR JOHN ROGERSON'S QUAY
- **CITY:** DUBLIN
- **PROVINCE COUNTRY:** L2

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Weatherford International Ltd
- **DATE OF NAME CHANGE:** 20140328

?xml version='1.0' encoding='ASCII'? wfrd-20260331

---

| |
|:---|
| **UNITED STATES** |
| **SECURITIES AND EXCHANGE COMMISSION** |
| **WASHINGTON, D.C. 20549** |

---

---

| | | |
|:---|:---|:---|
| (Mark One) | **Form** | **10-Q** |

---

---

| | | |
|:---|:---|:---|
| ☑ | **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** | **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |
|  | For the quarterly period ended | March 31, 2026 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;or |
| ☐ | **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** | **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |
|  | For the transition period from __________________________________to __________________________________ | For the transition period from __________________________________to __________________________________ |
|  | Commission file number | 001-36504 |

---

**Weatherford International plc**

(Exact Name of Registrant as Specified in Its Charter)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ireland** | **Ireland** | **Ireland** | **Ireland** | **Ireland** | **98-0606750** |
| (State or Other Jurisdiction of Incorporation or Organization) | (State or Other Jurisdiction of Incorporation or Organization) | (State or Other Jurisdiction of Incorporation or Organization) | (State or Other Jurisdiction of Incorporation or Organization) | (State or Other Jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identification No.) |
| **2000 St. James Place** | **,** | **Houston** | **,** | **Texas** | **77056** |
| (Address of Principal Executive Offices) | (Address of Principal Executive Offices) | (Address of Principal Executive Offices) | (Address of Principal Executive Offices) | (Address of Principal Executive Offices) | (Zip Code) |

---

Registrant's Telephone Number, Including Area Code: **713.836.4000** 

---

| |
|:---|
| **N/A** |
| (Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report) |

---

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Ordinary shares, $0.001 par value per share | WFRD | The Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yes 🗹 No ◻

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yes 🗹 No ◻

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☑ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| | | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No 🗹

As of April 16, 2026, there were 71,925,332 Weatherford ordinary shares, $0.001 par value per share, outstanding.

------

**Weatherford International public limited company**

**Form 10-Q for the First Quarter Ended March 31, 2026** 

---

| | |
|:---|:---|
| **TABLE OF CONTENTS** | **TABLE OF CONTENTS** |
| | **PAGE** |
| **<u>[PART I – FINANCIAL INFORMATION](#i8278e0f604324454ab2d73ccfd53702f_10)</u>** | |
| <u>[Item 1. Financial Statements.](#i8278e0f604324454ab2d73ccfd53702f_13)</u> | <u>[2](#i8278e0f604324454ab2d73ccfd53702f_13)</u> |
| <u>[Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.](#i8278e0f604324454ab2d73ccfd53702f_73)</u> | <u>[18](#i8278e0f604324454ab2d73ccfd53702f_73)</u> |
| <u>[Item 3. Quantitative and Qualitative Disclosures About Market Risk.](#i8278e0f604324454ab2d73ccfd53702f_163)</u> | <u>[30](#i8278e0f604324454ab2d73ccfd53702f_163)</u> |
| <u>[Item 4. Controls and Procedures.](#i8278e0f604324454ab2d73ccfd53702f_166)</u> | <u>[30](#i8278e0f604324454ab2d73ccfd53702f_166)</u> |
| **<u>[PART II – OTHER INFORMATION](#i8278e0f604324454ab2d73ccfd53702f_169)</u>** |  |
| <u>[Item 1. Legal Proceedings.](#i8278e0f604324454ab2d73ccfd53702f_172)</u> | <u>[31](#i8278e0f604324454ab2d73ccfd53702f_172)</u> |
| <u>[Item 1A. Risk Factors.](#i8278e0f604324454ab2d73ccfd53702f_175)</u> | <u>[31](#i8278e0f604324454ab2d73ccfd53702f_175)</u> |
| <u>[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.](#i8278e0f604324454ab2d73ccfd53702f_178)</u> | <u>[31](#i8278e0f604324454ab2d73ccfd53702f_178)</u> |
| <u>[Item 3. Defaults Upon Senior Securities.](#i8278e0f604324454ab2d73ccfd53702f_181)</u> | <u>[31](#i8278e0f604324454ab2d73ccfd53702f_181)</u> |
| <u>[Item 4. Mine Safety Disclosures](#i8278e0f604324454ab2d73ccfd53702f_184)</u>. | <u>[31](#i8278e0f604324454ab2d73ccfd53702f_184)</u> |
| <u>[Item 5. Other Information.](#i8278e0f604324454ab2d73ccfd53702f_187)</u> | <u>[31](#i8278e0f604324454ab2d73ccfd53702f_187)</u> |
| <u>[Item 6. Exhibits.](#i8278e0f604324454ab2d73ccfd53702f_193)</u> | <u>[32](#i8278e0f604324454ab2d73ccfd53702f_193)</u> |
| <u>[SIGNATURES](#i8278e0f604324454ab2d73ccfd53702f_196)</u> | <u>[33](#i8278e0f604324454ab2d73ccfd53702f_196)</u> |

---

------

<u>[**Table of Contents**](#i8278e0f604324454ab2d73ccfd53702f_7)</u>

**PART I** – **FINANCIAL INFORMATION**

**Item 1. Financial Statements.**

**WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** |
| | **March 31,** | **March 31,** |
|<br>*(Dollars and shares in millions, except per share amounts)* | **2026** | **2025** |
| **Revenue:**  |  |  |
| &nbsp;&nbsp;Services | $711 | $741 |
| &nbsp;&nbsp;Products | 441 | 452 |
| **Total Revenue** | 1152 | 1193 |
| **Costs and Expenses:** |  |  |
| &nbsp;&nbsp;Cost of Services | 476 | 464 |
| &nbsp;&nbsp;Cost of Products | 336 | 355 |
| &nbsp;&nbsp;Research and Development | 21 | 29 |
| &nbsp;&nbsp;Selling, General and Administrative | 168 | 161 |
| &nbsp;&nbsp;Restructuring Charges | 13 | 29 |
| &nbsp;&nbsp;Other Charges, Net | 15 | 13 |
| Total Costs and Expenses | 1029 | 1051 |
| **Operating Income** | 123 | 142 |
| **Other Expense:** |  |  |
| &nbsp;&nbsp;Interest Expense, Net of Interest Income of $10, $11 | (17) | (26) |
| &nbsp;&nbsp;Other Expense, Net | (1) | (20) |
| Income Before Income Taxes | 105 | 96 |
| Income Tax Benefit (Provision) | 4 | (10) |
| Net Income | 109 | 86 |
| Net Income Attributable to Noncontrolling Interests | 1 | 10 |
| **Net Income Attributable to Weatherford** | $108 | $76 |
| Basic Income per Share | $1.50 | $1.04 |
| Basic Weighted Average Shares Outstanding | 71.9 | 73.1 |
| Diluted Income per Share | $1.49 | $1.03 |
| Diluted Weighted Average Shares Outstanding | 72.2 | 73.4 |

---

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

------

<u>[**Table of Contents**](#i8278e0f604324454ab2d73ccfd53702f_7)</u>

**WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** |
| | **March 31,** | **March 31,** |
|<br>*(Dollars in millions)* | **2026** | **2025** |
| Net Income | $109 | $86 |
| &nbsp;&nbsp;Foreign Currency Translation Adjustments | (13) | 96 |
| Comprehensive Income | 96 | 182 |
| Comprehensive Income Attributable to Noncontrolling Interests | 1 | 10 |
| **Comprehensive Income Attributable to Weatherford** | $95 | $172 |

---

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

------

<u>[**Table of Contents**](#i8278e0f604324454ab2d73ccfd53702f_7)</u>

**WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)**

---

| | | |
|:---|:---|:---|
| *(Dollars and shares in millions, except par value)* | **March 31, 2026** | **December 31, 2025** |
|  | **(Unaudited)** |  |
| **Assets:** |  |  |
| &nbsp;&nbsp;Cash and Cash Equivalents | $1012 | $987 |
| &nbsp;&nbsp;Restricted Cash | 38 | 55 |
| &nbsp;&nbsp;Accounts Receivable, Net of Allowance for Credit Losses of $12 at March 31, 2026 and $10 at December 31, 2025 | 1166 | 1234 |
| &nbsp;&nbsp;Inventories, Net | 824 | 836 |
| &nbsp;&nbsp;Other Current Assets | 235 | 260 |
| **Total Current Assets** | 3275 | 3372 |
| &nbsp;&nbsp;Property, Plant and Equipment, Net of Accumulated Depreciation of $1,189 at March 31, 2026 and $1,150 at December 31, 2025 | 1130 | 1124 |
| &nbsp;&nbsp;Intangibles, Net of Accumulated Amortization of $842 at March 31, 2026 and $828 at December 31, 2025 | 275 | 285 |
| &nbsp;&nbsp;Operating Lease Assets | 119 | 128 |
| &nbsp;&nbsp;Other Non-Current Assets | 286 | 288 |
| **Total Assets** | $5085 | $5197 |
| **Liabilities:** |  |  |
| &nbsp;&nbsp;Current Portion of Long-term Debt | $31 | $30 |
| &nbsp;&nbsp;Accounts Payable | 630 | 650 |
| &nbsp;&nbsp;Accrued Salaries and Benefits | 224 | 285 |
| &nbsp;&nbsp;Income Taxes Payable | 112 | 129 |
| &nbsp;&nbsp;Current Portion of Operating Lease Liabilities | 47 | 48 |
| &nbsp;&nbsp;Other Current Liabilities | 374 | 395 |
| **Total Current Liabilities** | 1418 | 1537 |
| &nbsp;&nbsp;Long-term Debt | 1453 | 1455 |
| &nbsp;&nbsp;Operating Lease Liabilities | 99 | 109 |
| &nbsp;&nbsp;Non-current Taxes Payable | 204 | 242 |
| &nbsp;&nbsp;Other Non-Current Liabilities | 152 | 158 |
| **Total Liabilities** | $3326 | $3501 |
| **Shareholders' Equity:** |  |  |
| &nbsp;&nbsp;Ordinary Shares - Par Value $0.001; Authorized 1,356 shares, Issued and Outstanding 71.9 shares at March 31, 2026 and 71.6 at December 31, 2025 | $— | $— |
| &nbsp;&nbsp;Capital in Excess of Par Value | 2799 | 2815 |
| &nbsp;&nbsp;Retained Deficit | (1041) | (1129) |
| &nbsp;&nbsp;Accumulated Other Comprehensive Income |  | 13 |
| Shareholders' Equity | 1758 | 1699 |
| Noncontrolling Interests | 1 | (3) |
| **Total Shareholders' Equity** | 1759 | 1696 |
| **Total Liabilities and Shareholders' Equity** | $5085 | $5197 |

---

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

------

<u>[**Table of Contents**](#i8278e0f604324454ab2d73ccfd53702f_7)</u>

**WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|<br>*(Dollars in millions)* | **2026** | **2025** |
| **Cash Flows From Operating Activities:** |  |  |
| &nbsp;&nbsp;Net Income | $109 | $86 |
| &nbsp;&nbsp;Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: |  |  |
| &nbsp;&nbsp;Depreciation and Amortization | 70 | 62 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign Exchange (Gains) Losses | (4) | 13 |
| &nbsp;&nbsp;Gain on Disposition of Assets | (6) | (1) |
| &nbsp;&nbsp;Deferred Income Tax Provision | 9 | 7 |
| &nbsp;&nbsp;Share-Based Compensation | 12 | 7 |
| &nbsp;&nbsp;Changes in Accounts Receivable, Inventory, Accounts Payable and Accrued Salaries and Benefits: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts Receivable | 71 | 116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | (3) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts Payable | (21) | (74) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued Salaries and Benefits | (60) | (56) |
| &nbsp;&nbsp;Other Changes, Net | (41) | (15) |
| **Net Cash Provided by Operating Activities** | 136 | 142 |
| **Cash Flows From Investing Activities:** |  |  |
| &nbsp;&nbsp;Capital Expenditures for Property, Plant and Equipment | (54) | (77) |
| &nbsp;&nbsp;Proceeds from Disposition of Assets | 3 | 1 |
| &nbsp;&nbsp;Purchases of Blue Chip Swap Securities | (3) |  |
| &nbsp;&nbsp;Proceeds from Sales of Blue Chip Swap Securities | 3 |  |
| &nbsp;&nbsp;Other Investing Activities | (17) | (3) |
| **Net Cash Used in Investing Activities** | (68) | (79) |
| **Cash Flows From Financing Activities:** |  |  |
| &nbsp;&nbsp;Repayments of Long-term Debt | (8) | (39) |
| &nbsp;&nbsp;Tax Remittance on Equity Awards Vested | (17) | (20) |
| &nbsp;&nbsp;Share Repurchases | (10) | (53) |
| &nbsp;&nbsp;Dividends Paid | (20) | (18) |
| &nbsp;&nbsp;Other Financing Activities | (1) | (3) |
| **Net Cash Used in Financing Activities** | (56) | (133) |
| Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | (4) | 25 |
| Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | 8 | (45) |
| Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 1042 | 975 |
| Cash, Cash Equivalents and Restricted Cash at End of Period | $1050 | $930 |
| **Supplemental Cash Flow Information:** |  |  |
| &nbsp;&nbsp;Interest Paid | $1 | $2 |
| &nbsp;&nbsp;Income Taxes Paid, Net of Refunds | $40 | $30 |

---

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

------

<u>[**Table of Contents**](#i8278e0f604324454ab2d73ccfd53702f_7)</u>

**WEATHERFORD INTERNATIONAL PLC AND SUBSIDIARIES**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**1 – Basis of Presentation and Summary of Significant Accounting Policies**

***Basis of Presentation***

The accompanying unaudited Condensed Consolidated Financial Statements of Weatherford International plc (the "Company," "Weatherford," "we," "us," or "our") have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for interim financial information. Accordingly, certain information and disclosures normally included in our annual consolidated financial statements have been condensed or omitted. Therefore, these unaudited Condensed Consolidated Financial Statements should be read in conjunction with our audited Consolidated Financial Statements included in our Form 10-K for the year ended December 31, 2025 ("2025 Form 10-K").

The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenue and expenses during the reporting period. Ultimate results could differ from our estimates.

In the opinion of management, the Condensed Consolidated Financial Statements reflect all adjustments considered necessary by management to fairly state the results of operations, financial position and cash flows of Weatherford and its subsidiaries for the periods presented and are not necessarily indicative of the results that may be expected for a full year. Our financial statements have been prepared on a consolidated basis. Under this basis, our financial statements consolidate all wholly owned subsidiaries and controlled joint ventures. All intercompany accounts and transactions have been eliminated.

***Summary of Significant Accounting Policies***

Please refer to "Note 1 – Summary of Significant Accounting Policies" of our Consolidated Financial Statements from our 2025 Form 10-K for the discussion on our significant accounting policies.

***Accounting Standards Issued Not Yet Adopted***

Please refer to "Note 1 – Summary of Significant Accounting Policies" of our Consolidated Financial Statements from our 2025 Form 10-K for the discussion on accounting pronouncements that have been issued but not yet effective for the interim periods presented that are not expected to have a material impact on our financial position or results of operations.

Evaluations of all other new accounting pronouncements that have been issued, but not yet effective are on-going, and at this time are not expected to have a material impact on our Condensed Consolidated Financial Statements.

------

[**Table of Contents**](#i8278e0f604324454ab2d73ccfd53702f_7)

**2 – Segment Information**

Financial information by segment is summarized below. The accounting policies of the segments are the same as those described in the summary of significant accounting policies as presented in our 2025 Form 10-K. We have three reportable segments: (1) Drilling and Evaluation "DRE," (2) Well Construction and Completions "WCC," and (3) Production and Intervention "PRI."

The Company's chief operating decision maker ("CODM"), our chief executive officer, uses segment adjusted EBITDA to measure the profitability of each segment. The regularly reviewed historical, current and forecasted segment adjusted EBITDA data is utilized by the CODM to allocate Company resources. The CODM also uses segment adjusted EBITDA to drive efficiencies and develop competitive strategies. Segment adjusted EBITDA is based on segment earnings before interest, taxes, depreciation, amortization, share-based compensation expense and other adjustments. All other includes results from non-core business activities (including integrated services and projects), and corporate includes overhead support and centrally managed or shared facilities costs. All other and corporate do not individually meet the criteria for segment reporting.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** |
| | **Reportable Segments** | **Reportable Segments** | **Reportable Segments** | | |
|<br>*(Dollars in millions)* | **DRE** | **WCC** | **PRI** | **All**<br>**Other** |<br>**Total** |
| **Revenue** | $**321** | $**443** | $**296** | $**92** | $**1152** |
| Direct Costs<sup>(a)</sup>  | (204) | (276) | (203) |  |  |
| Other Expense<sup>(b)</sup> | (45) | (57) | (39) |  |  |
| DRE Segment Adjusted EBITDA | 72 |  |  |  | 72 |
| WCC Segment Adjusted EBITDA |  | 110 |  |  | 110 |
| PRI Segment Adjusted EBITDA |  |  | 54 |  | 54 |
| All Other |  |  |  |  | 13 |
| Corporate |  |  |  |  | (16) |
| Depreciation and Amortization |  |  |  |  | (70) |
| Share-based Compensation |  |  |  |  | (12) |
| Restructuring Charges |  |  |  |  | (13) |
| Other Charges, Net |  |  |  |  | (15) |
| &nbsp;&nbsp;&nbsp;**Operating Income** |  |  |  |  | $**123** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Segment cost of sales and direct operating costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Segment selling, general and administrative and research and development costs.

------

[**Table of Contents**](#i8278e0f604324454ab2d73ccfd53702f_7)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** |
| | **Reportable Segments** | **Reportable Segments** | **Reportable Segments** | | |
|<br>*(Dollars in millions)* | **DRE** | **WCC** | **PRI** | **All**<br>**Other** |<br>**Total** |
| **Revenue** | $**350** | $**441** | $**334** | $**68** | $**1193** |
| Direct Costs<sup>(a)</sup>  | (226) | (258) | (230) |  |  |
| Other Expense<sup>(b)</sup> | (50) | (55) | (42) |  |  |
| DRE Segment Adjusted EBITDA | 74 |  |  |  | 74 |
| WCC Segment Adjusted EBITDA |  | 128 |  |  | 128 |
| PRI Segment Adjusted EBITDA |  |  | 62 |  | 62 |
| All Other |  |  |  |  | 4 |
| Corporate |  |  |  |  | (15) |
| Depreciation and Amortization |  |  |  |  | (62) |
| Share-based Compensation |  |  |  |  | (7) |
| Restructuring Charges |  |  |  |  | (29) |
| Other Charges, Net |  |  |  |  | (13) |
| &nbsp;&nbsp;&nbsp;**Operating Income** |  |  |  |  | $**142** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Segment cost of sales and direct operating costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Segment selling, general and administrative and research and development costs.

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|<br>*(Dollars in millions)* | **2026** | **2025** |
| **Depreciation and Amortization:** |  |  |
| DRE | $23 | $19 |
| WCC | 12 | 12 |
| PRI | 24 | 18 |
| Corporate and Other | 11 | 13 |
| Total Depreciation and Amortization | $70 | $62 |
| **Capital Expenditures:** |  |  |
| DRE | $19 | $25 |
| WCC | 12 | 8 |
| PRI | 5 | 31 |
| Corporate and Other | 18 | 13 |
| Total Capital Expenditures | $54 | $77 |

---

---

| | | |
|:---|:---|:---|
| *(Dollars in millions)* | **March 31, 2026** | **December 31, 2025** |
| **Total Assets:** |  |  |
| DRE | $920 | $931 |
| WCC | 965 | 1055 |
| PRI | 719 | 771 |
| Corporate and Other <sup>(a)</sup> | 2481 | 2440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | $5085 | $5197 |
| <sup>(a)</sup> Corporate and other total assets primarily include cash and cash equivalents, certain intangible assets, and centrally managed or shared facilities. | <sup>(a)</sup> Corporate and other total assets primarily include cash and cash equivalents, certain intangible assets, and centrally managed or shared facilities. | <sup>(a)</sup> Corporate and other total assets primarily include cash and cash equivalents, certain intangible assets, and centrally managed or shared facilities. |

---

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***PP&E, Net and Operating Lease Assets by Geographic Area***

As of March 31, 2026 and December 31, 2025, the U.S. accounted for 22% and 23%, respectively, and the Kingdom of Saudi Arabia accounted for 13% in each period, of our PP&E, Net and operating lease assets identifiable by geography. No other country accounted for more than 10% of our PP&E, Net and operating lease assets identifiable by geography as of March 31, 2026 and December 31, 2025. We had no PP&E, Net and operating lease assets in our country of domicile (Ireland) as of March 31, 2026 and December 31, 2025.

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| | | |
|:---|:---|:---|
| *(Dollars in millions)* | **March 31, 2026** | **December 31, 2025** |
| &nbsp;&nbsp;North America <sup>(a)</sup> | $298 | $314 |
| &nbsp;&nbsp;&nbsp;&nbsp;Latin America | 146 | 153 |
| &nbsp;&nbsp;&nbsp;&nbsp;Middle East/North Africa/Asia | 504 | 507 |
| &nbsp;&nbsp;&nbsp;&nbsp;Europe/Sub-Sahara Africa/Russia | 240 | 231 |
| PP&E, Net and Operating Lease Assets by Geography <sup>(b)</sup> | $1188 | $1205 |
| <sup>(a)</sup> North America consists of the U.S. and Canada. | <sup>(a)</sup> North America consists of the U.S. and Canada. | <sup>(a)</sup> North America consists of the U.S. and Canada. |
| <sup>(b)</sup> Corporate assets not allocated by geography are excluded from this total. | <sup>(b)</sup> Corporate assets not allocated by geography are excluded from this total. | <sup>(b)</sup> Corporate assets not allocated by geography are excluded from this total. |

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**3 – Revenue**

***Disaggregated Revenue***

The following table disaggregates our revenue from contracts with customers by geographic area and includes equipment rental revenue. Equipment rental revenues were $18 million in the three months ended March 31, 2026, and $35 million for the three months ended March 31, 2025.

During the three months ended March 31, 2026, the U.S. and the Kingdom of Saudi Arabia accounted for 13% and 10% of total revenue, respectively. During the three months ended March 31, 2025, the U.S. and the Kingdom of Saudi Arabia accounted for 16% and 11% of total revenue in each period, respectively. No other country accounted for more than 10% of our revenue in the periods presented.

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|<br>*(Dollars in millions)* | **2026** | **2025** |
| **Revenue by Geographic Areas:** |  |  |
| &nbsp;&nbsp;North America <sup>(a)</sup> | $220 | $250 |
| International | 932 | 943 |
| &nbsp;&nbsp;Middle East/North Africa/Asia | 476 | 503 |
| &nbsp;&nbsp;Latin America | 223 | 241 |
| &nbsp;&nbsp;Europe/Sub-Sahara Africa/Russia | 233 | 199 |
| **Total Revenue** | $1152 | $1193 |
| <sup>(a)</sup> North America consists of the U.S. and Canada. |  |  |

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***Contract Balances***

The timing of our revenue recognition, billings, and cash collections results in the recording of accounts receivable, contract assets, and contract liabilities. The following table summarizes these balances as of March 31, 2026 and December 31, 2025:

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| | | |
|:---|:---|:---|
| *(Dollars in millions)* | **March 31, 2026** | **December 31, 2025** |
| Receivables for Product and Services in Accounts Receivable, Net | $1142 | $1209 |
| Receivables for Equipment Rentals in Account Receivable, Net | $24 | $25 |
| Accounts Receivable, Net | $1166 | $1234 |
| Contract Assets in Other Current Assets | $70 | $71 |
| Contract Assets in Other Non-Current Assets | $27 | $32 |
| Contract Liabilities in Other Current Liabilities | $41 | $48 |
| Contract Liabilities in Other Non-Current Liabilities | $2 | $2 |

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**4 – Restructuring Charges**

Restructuring charges were $13 million and $29 million in the three months ended March 31, 2026 and March 31, 2025, respectively, and are presented as "Restructuring Charges" on the accompanying Condensed Consolidated Statements of Operations. These charges were related to optimization and efficiency initiatives throughout the organization and primarily relate to severance expenses.

Restructuring liabilities were $24 million as of March 31, 2026 and $22 million as of December 31, 2025, respectively. Of the restructuring liabilities, $21 million and $19 million are recorded in "Other Current Liabilities" on the accompanying Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025, respectively. The remaining $3 million at both March 31, 2026 and December 31, 2025 is recorded in "Other Non-Current Liabilities" on the accompanying Consolidated Balance Sheets. Changes in the liabilities are primarily driven by restructuring charges and cash payments.

The following table presents total restructuring charges by segment and Corporate and Other in the three months ended March 31, 2026 and 2025:

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|<br>*(Dollars in millions)* | **2026** | **2025** |
| DRE | $2 | $8 |
| WCC | 1 | 7 |
| PRI | 3 | 8 |
| Corporate and Other | 7 | 6 |
| Total Restructuring Charges | $13 | $29 |

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**5 – Inventories, Net**

Inventories are reported net of reserves of $124 million and $118 million as of March 31, 2026 and December 31, 2025, respectively, and are presented by category in the table below:

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| | | |
|:---|:---|:---|
| *(Dollars in millions)* | **March 31, 2026** | **December 31, 2025** |
| Finished Goods | $725 | $742 |
| Work in Process and Raw Materials, Components and Supplies | 99 | 94 |
| Inventories, Net | $824 | $836 |

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The change in inventory reserves includes inventory charges, primarily offset by the disposal of inventory previously reserved. The charges are recorded in "Cost of Products" on our Condensed Consolidated Statements of Operations in the amount of $11 million and $5 million during the three months ended March 31, 2026 and March 31, 2025, respectively.

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**6 – Intangibles, Net**

The components of intangible assets, net were as follows:

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| | | |
|:---|:---|:---|
| *(Dollars in millions)* | **March 31, 2026** | **December 31, 2025** |
| Developed and Acquired Technology, Net of Accumulated Amortization of $589 at March 31, 2026 and $586 at December 31, 2025 | $119 | $118 |
| Trade Names, Net of Accumulated Amortization of $253 at March 31, 2026 and $242 at December 31, 2025 | 156 | 167 |
| &nbsp;&nbsp;Intangibles, Net of Accumulated Amortization of $842 at March 31, 2026 and $828 at December 31, 2025 | $275 | $285 |

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Amortization expense was $15 million and $14 million for the three months ended March 31, 2026, and March 31, 2025, respectively, and is reported in "Selling, General and Administrative" on our Condensed Consolidated Statements of Operations.

**7 – Borrowings and Other Debt Obligations**

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| | | |
|:---|:---|:---|
| *(Dollars in millions)* | **March 31, 2026** | **December 31, 2025** |
| Current Portion of Finance Leases | $31 | $30 |
| Current Portion of Long-term Debt | $31 | $30 |
| 6.75% Senior Notes due 2033 "2033 Senior Notes" | $1181 | $1181 |
| 8.625% Senior Notes due 2030 "2030 Senior Notes" | 234 | 234 |
| Finance Leases  | 38 | 40 |
| Long-term Debt | $1453 | $1455 |

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*2030 Senior Notes*

On October 27, 2021, Weatherford International Ltd. "(Weatherford Bermuda") issued 8.625% senior notes in aggregate principal amount of $1.6 billion maturing April 30, 2030 (the "2030 Senior Notes"). Interest on the 2030 Senior Notes is payable semiannually on June 1 and December 1 of each year, and commenced on June 1, 2022. On December 1, 2022, the indenture related to our 2030 Senior Notes was amended and supplemented to add Weatherford International, LLC (now Weatherford US Holding, LLC following a name change effective March 19, 2026, "Weatherford Delaware") as co-issuer and co-obligor, and concurrently release the guarantee of Weatherford Delaware. At March 31, 2026 and December 31, 2025, the carrying value represented the remaining unpaid principal of $236 million, offset by unamortized deferred issuance cost of $2 million.

*2033 Senior Notes*

On October 6, 2025, Weatherford Bermuda issued 6.75% senior notes in aggregate principal amount of $1.2 billion maturing on October 15, 2033 (the "2033 Senior Notes"). Interest on the 2033 Senior Notes is payable semiannually on April 15th and October 15th of each year, beginning on April 15, 2026. On October 24, 2025, the indenture related to our 2033 Senior Notes was amended and supplemented to add Weatherford Delaware as co-issuer and co-obligor, and concurrently released the guarantee of Weatherford Delaware. At March 31, 2026 and December 31, 2025, the carrying value represented the remaining unpaid principal of $1.2 billion, offset by unamortized deferred issuance cost of $19 million.

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*Credit Agreement* 

Weatherford Bermuda, Weatherford Delaware, Weatherford Canada Ltd. ("Weatherford Canada") and WOFS International Finance GmbH ("Weatherford Switzerland"), together as borrowers, and the Company as parent, have an amended and restated credit agreement (the "Credit Agreement"). The Credit Agreement is guaranteed by the Company and certain of our subsidiaries and secured by substantially all of the personal property of the Company and those subsidiaries. At March 31, 2026 and December 31, 2025, the Credit Agreement allowed for a total commitment amount of $1 billion, maturing on the earlier of (a) September 18, 2030 and (b) to the extent that more than $200 million of 2030 Senior Notes or Permitted Refinancing Indebtedness in respect thereof is outstanding on such date, the date that is 91 days prior to the stated maturity date of the 2030 Senior Notes or any Permitted Refinancing Indebtedness in respect thereof. Financial covenants in the Credit Agreement include a $250 million minimum liquidity covenant (which may increase up to $400 million dependent on the nature of transactions we may decide to enter into), a minimum interest coverage ratio of 2.50 to 1.00, a maximum total net leverage ratio of 3.50 to 1.00, and a maximum secured net leverage ratio of 1.50 to 1.00.

As of March 31, 2026, under the Credit Agreement we had zero borrowings, $7 million in financial letters of credit and $257 million in performance letters of credit outstanding. Additionally as of March 31, 2026, we had $193 million letters of credit under various uncommitted bi-lateral facilities ($32 million of which was cash collateral held and recorded in "Restricted Cash" on the Condensed Consolidated Balance Sheets).

As of December 31, 2025, under the Credit Agreement we had zero borrowings, $7 million in financial letters of credit and $245 million in performance letters of credit outstanding. Additionally as of December 31, 2025, we had $207 million of letters of credit under various uncommitted bi-lateral facilities ($47 million of which was cash collateral held and recorded in "Restricted Cash" on the Condensed Consolidated Balance Sheets).

*Fair Value* 

The fair value of our long-term debt fluctuates with changes in applicable interest rates among other factors. Fair value will exceed carrying value when the current market interest rate is lower than the interest rate at which the debt was originally issued and will be less than the carrying value when the market rate is greater than the interest rate at which the debt was originally issued. The fair value of our long-term debt is classified as Level 2 in the fair value hierarchy and is established based on observable inputs in less active markets. The table below presents the fair value and carrying value of our long-term debt (excluding finance leases).

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| | | | | |
|:---|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
| *(Dollars in millions)* | **Carrying Value** | **Fair Value** | **Carrying Value** | **Fair Value** |
| 8.625% Senior Notes due 2030 | $234 | $241 | $234 | $242 |
| 6.75% Senior Notes due 2033 | $1181 | $1226 | $1181 | $1226 |
| Long-Term Debt (excluding Finance Leases) | $1415 | $1467 | $1415 | $1468 |

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**8 – Disputes, Litigation and Legal Contingencies** 

We are subject to lawsuits and claims arising out of the nature of our business. We have certain claims, disputes and pending litigation for which we do not believe a negative outcome is probable or for which we can only estimate a range of liability. It is possible, however, that an unexpected judgment could be rendered against us, or we could decide to resolve a case or cases, which would result in a liability that could be uninsured and beyond the amounts we currently have reserved and in some cases those losses could be material. If one or more negative outcomes were to occur relative to these cases, the aggregate impact to our financial condition could be material.

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**9 – Shareholders' Equity**

Shares issued and outstanding on our Condensed Consolidated Balance Sheets increased from 71.6 million as of December 31, 2025 to 71.9 million as of March 31, 2026. The increase was due to the issuance of 0.4 million of our ordinary shares for equity awards vested and delivered, net of shares withheld for taxes, partially offset by the cancellation of 0.1 million of our ordinary shares repurchased for $10 million.

During the three months ended March 31, 2026, we declared and paid $20 million in dividends and accrued an immaterial amount of dividend equivalent rights on share-based awards.

The following summarizes our shareholders' equity activity for the three months ended March 31, 2026 and 2025:

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(Dollars in millions)* | **Ordinary Shares** | **Par Value** | **Capital in Excess of Par Value** | **Retained <br>Deficit** | **Accumulated**<br>**Other**<br>**Comprehensive Income (Loss)** | **Non-controlling Interests** | **Total Shareholders' Equity** |
| **Balance at December 31, 2025** | 71.6 | $— | $2815 | $(1129) | $13 | $(3) | $1696 |
| &nbsp;&nbsp;Net Income |  |  |  | 108 |  | 1 | 109 |
| &nbsp;&nbsp;Equity Awards, Granted and Vested, Net of Shares Withheld for Taxes | 0.4 |  | (6) |  |  |  | (6) |
| &nbsp;&nbsp;Share Repurchases | (0.1) |  | (10) |  |  |  | (10) |
| &nbsp;&nbsp;Dividends Declared ($0.275 per share) <sup>(1)</sup> |  |  |  | (20) |  |  | (20) |
| &nbsp;&nbsp;Other Comprehensive Loss |  |  |  |  | (13) |  | (13) |
| &nbsp;&nbsp;Other |  |  |  |  |  | 3 | 3 |
| **Balance at March 31, 2026** | 71.9 | $— | $2799 | $(1041) | $— | $1 | $1759 |
| <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. | <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. | <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. | <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. | <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. | <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. | <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. | <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(Dollars in millions)* | **Ordinary Shares** | **Par Value**  | **Capital In Excess of Par Value** | **Retained Deficit** | **Accumulated**<br>**Other**<br>**Comprehensive**<br>**Loss** | **Non-controlling Interests** | **Total Shareholders' Equity** |
| **Balance at December 31, 2024** | 72.1 | $— | $2921 | $(1486) | $(150) | $(2) | $1283 |
| &nbsp;&nbsp;Net Income |  |  |  | 76 |  | 10 | 86 |
| &nbsp;&nbsp;Equity Awards, Granted and Vested, Net of Shares Withheld for Taxes | 1.3 |  | (34) |  |  |  | (34) |
| &nbsp;&nbsp;Share Repurchases | (0.8) |  | (53) |  |  |  | (53) |
| &nbsp;&nbsp;Dividends Declared ($0.25 per share) <sup>(1)</sup> |  |  |  | (18) |  |  | (18) |
| &nbsp;&nbsp;Other Comprehensive Income |  |  |  |  | 96 |  | 96 |
| **Balance at March 31, 2025** | 72.6 | $— | $2834 | $(1428) | $(54) | $8 | $1360 |
| <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. | <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. | <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. | <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. | <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. | <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. | <sup>(1)</sup> Includes dividend equivalent rights on share-based awards. |  |

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The following table presents the changes in our accumulated other comprehensive income (loss) by component for the three months ended March 31, 2026 and 2025:

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| | | | |
|:---|:---|:---|:---|
| *(Dollars in millions)* | **Currency Translation Adjustment** | **Defined Benefit Pension** | **Total** |
| **Balance at December 31, 2025** | $**1** | $**12** | $**13** |
| Other Comprehensive Loss | (13) |  | (13) |
| **Balance at March 31, 2026** | $**(12)** | $**12** | $**—** |
| **Balance at December 31, 2024** | $**(156)** | $**6** | $**(150)** |
| Other Comprehensive Income | 96 |  | 96 |
| **Balance at March 31, 2025** | $**(60)** | $**6** | $**(54)** |

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**10 – Income per Share**

A reconciliation of the number of shares used for the basic and diluted income per share calculation was as follows:

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|<br>*(Dollars and shares in millions, except per share amounts)* | **2026** | **2025** |
| Net Income Attributable to Weatherford | $108 | $76 |
| Basic Weighted Average Shares Outstanding | 71.9 | 73.1 |
| Dilutive Effect of Awards Granted in Stock Incentive Plan | 0.3 | 0.3 |
| Diluted Weighted Average Shares Outstanding | 72.2 | 73.4 |
| Basic Income per Share | $1.50 | $1.04 |
| Diluted Income per Share  | $1.49 | $1.03 |
| Antidilutive Weighted Average Shares: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Awards | 0.3 | 0.4 |
| Total Antidilutive Weighted Average Shares | 0.3 | 0.4 |

---

Basic income per share for all periods presented equals net income available to shareholders divided by our weighted average shares outstanding during the period. Diluted income per share is computed by dividing net income available to shareholders by our weighted average shares outstanding during the period including potential dilutive ordinary shares. Anti-dilutive weighted average shares represent securities that could potentially dilute income per share in the future and are excluded from the computation of income per share.

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**11 – Income Taxes**

We recognized a tax benefit of $4 million for the three months ended March 31, 2026, compared to the three months ended March 31, 2025 where we recognized a tax expense of $10 million. Income tax expense was lower in the three months ended March 31, 2026 compared to the first quarter of 2025 primarily due to increased recognition of benefits from previously uncertain tax positions. The recognized amounts for first quarters of 2026 and 2025 were $44 million and $26 million, respectively. We calculate our income tax provision using the estimated annual effective tax rate method in accordance with Accounting Standards Codification "ASC" 740 - Income Taxes.

The relationship between our pre-tax income or loss and our income tax provision or benefit varies from period to period due to various factors which include changes in total pre-tax income or loss, the jurisdictions in which our income is earned, the tax laws in those jurisdictions and in our operating structure. We provide for income taxes based on the laws and rates in effect in the countries in which operations are conducted, or in which we or our subsidiaries are considered residents for income tax purposes. Our income tax provisions are primarily driven by income in certain jurisdictions and withholding taxes on intercompany and third-party transactions that do not directly correlate to ordinary income or loss. Certain charges and impairments recognized do not result in a significant tax benefit as a result of being attributed to a non-income tax jurisdiction or our inability to forecast realization of the tax benefit of such losses. This is partially offset by the utilization of previously unbenefited deferred tax assets, such as net operating loss carryforwards.

We are continuously under tax examination in various jurisdictions and cannot predict the timing or outcome regarding the resolutions or if they will have a material impact on our financial statements.

**12 – Subsequent Events** 

*Declaration of cash dividend*

On April 16, 2026, our Board of Directors declared a cash dividend of $0.275 per share of the Company's ordinary shares, payable on June 4, 2026 to shareholders of record as of May 6, 2026.

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**Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.**

As used in this item, "Weatherford," "the Company," "we," "us" and "our" refer to Weatherford International plc, a public limited company organized under the laws of Ireland, and its subsidiaries on a consolidated basis. The following discussion should be read in conjunction with the Condensed Consolidated Financial Statements and Notes thereto included in "Item 1. Financial Statements." Our discussion includes various forward-looking statements about our markets, the demand for our products and services and our future results. These statements include assumptions, certain risks and uncertainties. For information about these assumptions, risks and uncertainties, refer to the section "Forward-Looking Statements" and the section "PART II - OTHER INFORMATION - Item 1A. Risk Factors."

**Recent Developments**

On April 2, 2026, the Company announced its proposal to reorganize the Company's corporate structure through a redomestication of the parent company from Ireland to the United States as a Texas corporation ("Redomestication"). The proposed redomestication is subject to a number of conditions, including but not limited to the approval by the Company's shareholders, as well as the sanction of the High Court of Ireland. If approved, the proposed redomestication is expected to take place during the third quarter of 2026.

**Business**

Weatherford is a leading global energy services company providing equipment and services used in the drilling, evaluation, well construction, completion, production, intervention and responsible abandonment of wells in the oil and natural gas exploration and production industry as well as new energy platforms.

We conduct business in approximately 75 countries, answering the challenges of the energy industry with 295 operating locations including manufacturing, research and development, service, and training facilities. Our operational performance is reviewed and managed across the life cycle of the wellbore, and we report in three segments (1) Drilling and Evaluation, (2) Well Construction and Completions, and (3) Production and Intervention.

***Drilling and Evaluation ("DRE")*** offers a suite of services including managed pressure drilling, drilling services, wireline and drilling fluids. DRE offerings range from early well planning to reservoir management through innovative tools and expert engineering to optimize reservoir access and productivity.

***Well Construction and Completions ("WCC")*** offers products and services for well integrity assurance across the full life cycle of the well. The primary offerings are tubular running services, cementation products, completions, liner hangers and well services. WCC deploys conventional to advanced technologies, providing safe and efficient services in any environment during the well construction phase.

***Production and Intervention ("PRI")*** offers a suite of reservoir stimulation designs, and engineering capabilities that isolate zones and unlock reserves in conventional and unconventional wells, deep water, and aging reservoirs. The primary offerings are intervention services & drilling tools, artificial lift, digital solutions, sub-sea intervention and pressure pumping services in select markets.

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**Industry Trends**

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 environment, and the level of workover activity worldwide.

Lower oil and natural gas prices and lower rig count generally correlate to lower exploration and production spending, and higher oil and natural gas prices and higher rig count generally correlate to higher exploration and production spending. Therefore, our financial results can be significantly affected by oil and natural gas prices as well as rig counts. As shown in the following tables, as of three months ended March 31, 2026, the average WTI oil price was flat compared to three months ended March 31, 2025 while the average Brent crude oil and Henry Hub natural gas prices were higher than during the three months ended March 31, 2025. Average rig counts decreased during the three months ended March 31, 2026 compared to the three months ended March 31, 2025. Oil and natural gas prices have experienced increased volatility and upward pressure in response to escalating geopolitical conflict involving Iran, the U.S. and Israel ("Iran Conflict"). The Iran Conflict, which began on February 28, 2026, has caused the WTI oil price to increase from $66.96 per barrel on February 27, 2026 to $102.86 per barrel on March 31, 2026 averaging $90.84 per barrel for the month of March and Brent crude oil price to increase from $71.32 per barrel on February 27, 2026 to $126.69 per barrel on March 31, 2026 averaging $102.01 per barrel for the month of March. Despite the higher oil prices, the Iran Conflict may have an adverse impact on exploration and production spending in the Middle East during the period of the conflict and could lead to significant disruption of global energy supplies, adversely affect global supply chains, energy markets and overall macroeconomic conditions.

Developments in global trade policy, tariffs, geopolitical conflicts, sanctions, and regulation have affected and may continue to affect our industry. In February 2026, the U.S. Supreme Court ruled that certain tariffs were unlawful, invalidating the statutory basis for certain incremental tariffs enacted since February 2025, and remanded related matters to the Court of International Trade. Following this ruling, the U.S. presidential administration announced new tariffs under alternative authorities, furthering uncertainty regarding the scope, duration, and potential modification or suspension of existing and future tariffs, as well as possible retaliatory actions. We have filed a claim for a refund of certain tariffs with the Court of International Trade and are monitoring the situation closely for further information about how the U.S. government intends to proceed. Our first quarter 2026 financial results do not include potential benefits of a refund being received related to the forementioned tariffs.

The table below shows the average oil and natural gas prices for West Texas Intermediate ("WTI"), Brent North Sea ("Brent") crude oil and Henry Hub natural gas.

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| | | |
|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** |
| | **March 31,** | **March 31,** |
| | **2026** | **2025** |
| Oil price - WTI <sup>(1)</sup> | $71.80 | $71.84 |
| Oil price - Brent <sup>(1)</sup> | $79.83 | $75.81 |
| Natural gas price - Henry Hub <sup>(2)</sup> | $4.80 | $4.15 |
| <sup>(1)</sup> Oil price measured in dollars per barrel (rounded to the nearest $0.01) | <sup>(1)</sup> Oil price measured in dollars per barrel (rounded to the nearest $0.01) | <sup>(1)</sup> Oil price measured in dollars per barrel (rounded to the nearest $0.01) |
| <sup>(2)</sup> Natural gas price measured in dollars per million British thermal units (rounded to the nearest $0.01) | <sup>(2)</sup> Natural gas price measured in dollars per million British thermal units (rounded to the nearest $0.01) | <sup>(2)</sup> Natural gas price measured in dollars per million British thermal units (rounded to the nearest $0.01) |

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The table below shows historical average rig counts based on the weekly Baker Hughes Company rig count information.

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| | | |
|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** |
| | **March 31,** | **March 31,** |
| | **2026** | **2025** |
| North America | 749 | 803 |
| International <sup>(1)</sup> | 1083 | 1097 |
| Worldwide | 1832 | 1900 |
| <sup>(1)</sup> Prior period international rig count figures were retroactively adjusted by Baker Hughes in the third quarter of 2025. | <sup>(1)</sup> Prior period international rig count figures were retroactively adjusted by Baker Hughes in the third quarter of 2025. | <sup>(1)</sup> Prior period international rig count figures were retroactively adjusted by Baker Hughes in the third quarter of 2025. |

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[**Table of Contents**](#i8278e0f604324454ab2d73ccfd53702f_7)

 **Iran Conflict**

The Iran Conflict, which began in February 2026, has and could continue to significantly disrupt the global oil and gas supply-demand balance, increase commodity price volatility and heighten uncertainty in regional operating conditions. We continue to evaluate our operations and business exposure, with a priority on the safety and well-being of our employees, operating in compliance with applicable laws and sanctions, and performing under existing contracts with customers in the region. Disruptions to transportation routes, higher logistics and insurance costs, and changes in customer activity levels or project timing could affect our operating results, liquidity, and cash flows, particularly if conditions persist or escalate. While the situation remains fluid, adverse impacts can continue in future periods. We will continue to monitor developments and assess potential impacts on our business and financial position.

**Russia Ukraine Conflict**

In February 2022, the military conflict between Russia and Ukraine ("Russia Ukraine Conflict") began and in response we evaluated, and continue to evaluate, our operations, with the priority being centered on the safety and well-being of our employees in the impacted regions, as well as operating in full compliance with applicable international laws and sanctions.

Revenues in Russia were approximately 7% of our total revenues for the three months ended March 31, 2026, compared to 6% of our total revenue for the three months ended March 31, 2025. As of March 31, 2026, our Russia operations included $106 million in cash, $149 million in other current assets, $100 million in property, plant and equipment, net and other non-current assets, and $82 million in liabilities. As of December 31, 2025, our Russia operations included $107 million in cash, $152 million in other current assets, $91 million in property, plant and equipment, net and other non-current assets, and $80 million in liabilities.

We continue to closely monitor and evaluate the developments in Russia as well as any changes in international laws and sanctions. We believe that operational complexity will increase over time and therefore continually evaluate these potential impacts on our business. As such, we continue to actively evaluate various options, strategies and contingencies with respect to our business in Russia, including, but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• continuing the business in compliance with applicable laws and sanctions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• evaluating the continued use or change in products, equipment and service offerings we currently provide in

Russia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• curtailing or winding down our activities over time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• potentially divesting some or all of our assets or businesses in Russia, which could include the option of re-entering the country if and when sanctions or applicable laws would allow for the same; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• potential nationalization of the business.

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**Consolidated Statements of Operations - Operating Summary**

Revenues of $1.15 billion in the three months ended March 31, 2026, decreased 3% compared to $1.19 billion in the three months ended March 31, 2025. Year-over-year in the first quarter, product revenues decreased 2% and service revenues decreased 4%. For the same period, revenues declined in the PRI segment by 11% and in the DRE segment by 8%, while remaining largely flat in the WCC segment. Integrated services and projects experienced an increase in activity with revenues increasing by 35%.

Geographically, the year-over-year first quarter revenue decrease was led by declines in North America of 12%, Middle East/North Africa/Asia of 5% and Latin America of 7% and partly offset by a revenue increase of 17% in the Europe/Sub-Sahara Africa/Russia region. Year-over-year revenue decreases were primarily driven by the divestiture of the pressure pumping business in Argentina in the second quarter of 2025 and also impacted by market disruption caused by the Iran Conflict.

Operating income of $123 million in the three months ended March 31, 2026, decreased 13% compared to $142 million in the three months ended March 31, 2025. The first quarter year-over-year decrease was due to the decline in revenue driven by the divestiture of the pressure pumping business in Argentina and market disruptions caused by the Iran Conflict, with a partial offset from lower restructuring and research and development costs.

Cost of products and services of $812 million in the three months ended March 31, 2026, decreased 1% compared to $819 million in the three months ended March 31, 2025. The year-over-year decrease was primarily due to a decline in product sales and a reduction in headcount leading to lower personnel costs. The decrease was partly offset by an increase in depreciation expenses. Our cost of products and services as a percentage of revenues was 71% in the three months ended March 31, 2026 compared to 69% in the three months ended March 31, 2025. The higher cost ratio was primarily due to fixed costs decreasing at a slower rate than revenues.

Selling, general, administrative and research and development costs of $189 million in the three months ended March 31, 2026, decreased 1% compared to $190 million in the three months ended March 31, 2025. Selling, general, administrative and research and development costs as a percentage of revenues was 16% in both the three months ended March 31, 2026 and the three months ended March 31, 2025.

Restructuring charges were $13 million in the three months ended March 31, 2026 and $29 million in the three months ended March 31, 2025. See "Note 4 – Restructuring Charges" for additional information.

Other Charges, Net were $15 million in the three months ended March 31, 2026 and $13 million in the three months ended March 31, 2025. Other Charges, Net primarily included legal fees related to the Redomestication in the three months ended March 31, 2026 and primarily included fees to third-party financial institutions related to collections of certain receivables from our largest customer in Mexico in the three months ended March 31, 2025.

**Consolidated Statements of Operations - Non-Operating Summary**

*Interest Expense, Net*

Interest Expense, Net was $17 million in the three months ended March 31, 2026 and $26 million in the three months ended March 31, 2025. Interest Expense, Net is interest expense net of interest income.

Interest expense was $27 million in the three months ended March 31, 2026 and $37 million in the three months ended March 31, 2025. The decrease was primarily due to a lower interest rate following the refinancing of long-term debt in the fourth quarter of 2025 and the reduction in our outstanding long-term debt. Interest income was $10 million in the three months ended March 31, 2026 and $11 million in the three months ended March 31, 2025.

*Other Expense, Net*

Other Expense, Net was $1 million in the three months ended March 31, 2026 and $20 million in the three months ended March 31, 2025. Other Expense, Net primarily represents foreign exchange gains and losses in countries with no or limited markets to hedge, letter of credit fees and other financing charges, including bond redemption premiums partially offset by certain investment gains and losses. When economically advantageous, we enter into foreign currency forward contracts to

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mitigate the risk of future cash flows denominated in a foreign currency.

*Income Taxes* 

We provide for income taxes based on the laws and rates in effect in the countries in which operations are conducted, or in which we or our subsidiaries are considered residents for income tax purposes. The relationship between our pre-tax income or loss from continuing operations and our income tax benefit or provision varies from period to period as a result of various factors, which include changes in total pre-tax income or loss, the jurisdictions in which our income is earned, the tax laws in those jurisdictions, the impacts of tax planning activities and the resolution of tax audits. Our effective rate differs from the Irish statutory tax rate as the majority of our operations are taxed in jurisdictions with different tax rates. In addition, certain charges do not result in significant tax benefit as a result of being attributed to a non-income tax jurisdiction or our inability to forecast realization of the tax benefit of such losses. Charges can be partially offset by the utilization of previously unbenefited deferred tax assets, such as net operating loss carryforwards. Please see "Note 11 – Income Taxes" to our Condensed Consolidated Financial Statements for additional details.

**Results of Operations by Segment**

Financial information by segment is summarized below.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** |
| | **Reportable Segments** | **Reportable Segments** | **Reportable Segments** | | |
|<br>*(Dollars in millions)* | **DRE** | **WCC** | **PRI** | **All**<br>**Other** |<br>**Total** |
| **Revenue** | $**321** | $**443** | $**296** | $**92** | $**1152** |
| Direct Costs<sup>(a)</sup>  | (204) | (276) | (203) |  |  |
| Other Expense<sup>(b)</sup> | (45) | (57) | (39) |  |  |
| DRE Segment Adjusted EBITDA | 72 |  |  |  | 72 |
| WCC Segment Adjusted EBITDA |  | 110 |  |  | 110 |
| PRI Segment Adjusted EBITDA |  |  | 54 |  | 54 |
| All Other |  |  |  |  | 13 |
| Corporate |  |  |  |  | (16) |
| Depreciation and Amortization |  |  |  |  | (70) |
| Share-based Compensation |  |  |  |  | (12) |
| Restructuring Charges |  |  |  |  | (13) |
| Other Charges, Net |  |  |  |  | (15) |
| &nbsp;&nbsp;&nbsp;**Operating Income** |  |  |  |  | $**123** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Segment cost of sales and direct operating costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Segment selling, general and administrative and research and development costs.

&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** |
| | **Reportable Segments** | **Reportable Segments** | **Reportable Segments** | | |
|<br>*(Dollars in millions)* | **DRE** | **WCC** | **PRI** | **All**<br>**Other** |<br>**Total** |
| **Revenue** | $**350** | $**441** | $**334** | $**68** | $**1193** |
| Direct Costs<sup>(a)</sup>  | (226) | (258) | (230) |  |  |
| Other Expense<sup>(b)</sup> | (50) | (55) | (42) |  |  |
| DRE Segment Adjusted EBITDA | 74 |  |  |  | 74 |
| WCC Segment Adjusted EBITDA |  | 128 |  |  | 128 |
| PRI Segment Adjusted EBITDA |  |  | 62 |  | 62 |
| All Other |  |  |  |  | 4 |
| Corporate |  |  |  |  | (15) |
| Depreciation and Amortization |  |  |  |  | (62) |
| Share-based Compensation |  |  |  |  | (7) |
| Restructuring Charges |  |  |  |  | (29) |
| Other Charges, Net |  |  |  |  | (13) |
| &nbsp;&nbsp;&nbsp;**Operating Income** |  |  |  |  | $**142** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Segment cost of sales and direct operating costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Segment selling, general and administrative and research and development costs.

*DRE Results*

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Variance** | **Variance** |
|<br>*($ in Millions)* | **March 31, 2026** | **March 31, 2025** | $**% or bps** | **% or bps** |
| Revenue | $321 | $350 | (8) | % |
| Direct Costs | (204) | (226) | 10 | % |
| Other Expense | (45) | (50) | 10 | % |
| Segment Adjusted EBITDA | $72 | $74 | (3) | % |
| Segment Adj EBITDA Margin | 22.4% | 21.1% | 129 | bps |

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DRE revenues of $321 million in the three months ended March 31, 2026, decreased $29 million or 8% compared to $350 million in the three months ended March 31, 2025, respectively.

Of the first quarter year-over-year revenue decrease, approximately 55% of the decrease was from lower activity in managed pressure drilling and approximately 45% of the decrease from lower activity in wireline. Geographically, within the regions with revenue decreases, approximately 40% of the revenue decrease was from Latin America, approximately 35% of the decrease was from Middle East/North Africa/Asia and approximately 25% of the revenue was from the North America region. This was partly offset by revenue increase in Europe/Sub-Sahara Africa/Russia.

DRE segment adjusted EBITDA of $72 million in the three months ended March 31, 2026, decreased $2 million or 3%, compared to $74 million in the three months ended March 31, 2025, respectively. DRE segment adjusted EBITDA margin was 22.4% in the three months ended March 31, 2026 compared to 21.1% in the three months ended March 31, 2025. The first quarter segment adjusted EBITDA decreased year-over-year primarily due to a decline in overall activity. In the first quarter, both direct costs and other expense decreased along with the decrease in activity. The rate of decrease for direct costs and other expense were higher than the rate of decrease in revenue, contributing to the increase in margin.

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*WCC Results*

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Variance** | **Variance** |
|<br>*($ in Millions)* | **March 31, 2026** | **March 31, 2025** | $**% or bps** | **% or bps** |
| Revenue | $443 | $441 |  | % |
| Direct Costs | (276) | (258) | (7) | % |
| Other Expense | (57) | (55) | (4) | % |
| Segment Adjusted EBITDA | $110 | $128 | (14) | % |
| Segment Adj EBITDA Margin | 24.8% | 29.0% | (419) | bps |

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WCC revenues of $443 million in the three months ended March 31, 2026, increased $2 million, or largely flat year over year, compared to $441 million in the three months ended March 31, 2025.

The first quarter year-over-year increase was primarily due to increase of activity in liner hangers which was responsible for approximately 80% of the increase within product lines with revenue increases. This increase was partly offset by a revenue decrease in well services. Geographically, within the regions with revenue increases, approximately 50% of the increase was from North America and approximately 35% of the increase was from the Latin America region. This increase was mostly offset by a revenue decrease in the Middle East/North Africa/Asia region.

WCC segment adjusted EBITDA of $110 million in the three months ended March 31, 2026, decreased $18 million or 14%, compared to $128 million in the three months ended March 31, 2025. WCC segment adjusted EBITDA margin was 24.8% in the three months ended March 31, 2026, compared to 29.0% in the three months ended March 31, 2025. The first quarter segment adjusted EBITDA decreased year-over-year primarily due to an increase in direct operating costs. In the first quarter, both direct costs and other expense increased along with a modest increase in revenue. However, the rate of increase in direct costs and other expense was higher than the rate of increase in revenue, contributing to the decrease in margin.

*PRI Results*

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Variance** | **Variance** |
|<br>*($ in Millions)* | **March 31, 2026** | **March 31, 2025** | $**% or bps** | **% or bps** |
| Revenue | $296 | $334 | (11) | % |
| Direct Costs | (203) | (230) | 12 | % |
| Other Expense | (39) | (42) | 7 | % |
| Segment Adjusted EBITDA | $54 | $62 | (13) | % |
| Segment Adj EBITDA Margin | 18.2% | 18.6% | (32) | bps |

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PRI revenues of $296 million in the three months ended March 31, 2026, decreased $38 million or 11% compared to $334 million in the three months ended March 31, 2025.

Of the first quarter year-over-year revenue decrease, approximately 65% of the decrease was from lower activity in pressure pumping and approximately 40% of the decrease was attributable to a decline in activity for intervention services and drilling tools. The sale of our pressure pumping business in Argentina in the second quarter of 2025 was the primary contributor to the decline in pressure pumping activity. The decrease in revenue was partly offset by a revenue increase from sub-sea intervention activity. Geographically, within the regions with revenue decreases, approximately 55% of the revenue decrease was from North America and approximately 40% of the revenue decrease was from Latin America. This was partly offset by revenue increase in the Europe/Sub-Sahara Africa/Russia region.

PRI segment adjusted EBITDA of $54 million in the three months ended March 31, 2026, decreased $8 million or 13% compared to $62 million in the three months ended March 31, 2025. PRI segment adjusted EBITDA margin was 18.2% in the three months ended March 31, 2026, compared to 18.6% in the three months ended March 31, 2025. The first quarter segment adjusted EBITDA decreased year-over-year primarily due to a decline in overall activity. Both direct costs and other expense decreased along with the decrease in activity. The rate of decrease for direct costs was higher than the rate of decrease in revenue. However, the rate of decrease in other expense was lower than rate of decrease in revenue, contributing to the decrease

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in margin.

*All Other Results*

All Other results were from non-core business activities that do not individually meet the criteria for segment reporting, including integrated services and projects, which includes pass-through and project management services.

All Other revenues were $92 million in the three months ended March 31, 2026, compared to $68 million in the three months ended March 31, 2025. The year-over-year increase was due to higher international activity for integrated services and projects.

*Corporate*

Corporate incurred net expense was $16 million in the three months ended March 31, 2026 compared to $15 million in the three months ended March 31, 2025.

*Depreciation and Amortization*

Depreciation and amortization expense was $70 million in the three months ended March 31, 2026 compared to $62 million in the three months ended March 31, 2025. The year-over-year increase was primarily due to a larger asset base.

*Share-based Compensation*

We recognized $12 million of share-based compensation in the three months ended March 31, 2026 compared to $7 million in the three months ended March 31, 2025. The year-over-year increase was primarily due to the timing of equity grants and increased expense related to performance-based awards.

**Outlook**

Growth and spending in the energy services industry is highly dependent on many external factors. These include but are not limited to; the impact from geopolitical conflicts; our customers' capital expenditures; environmental, social and other sustainability policies and initiatives; world economic, political, trade, and weather conditions; the price of oil, natural gas, and alternatives; member-country quota compliance within the Organization of Petroleum Exporting Countries and the expanded alliance (OPEC+); and, non-OPEC+ investments and project timing. Imbalances across geographies driven by geopolitical conflicts, investment variances and supply disruptions are driving a greater focus on energy security and resiliency, which in turn is creating a shift towards national oil companies and diversification across multiple energy sources (oil, gas, coal, renewables, etc.) to meet domestic and global demand.

As we look forward to the second quarter, market conditions remain uncertain due to evolving trade and tariff policies, geopolitical instability and changes in global supply. During the three months ended March 31, 2026, the conflict in Iran contributed to disruption in the Middle East, including activity delays and higher logistics and transportation costs, and higher commodity prices. We expect the conflict to negatively impact operating income results in the first half of 2026. However, in the event the Iran Conflict is completed by the end of the second quarter, we expect activity to improve in the second half of 2026. As the market works through supply chain constraints, lead times and logistical bottlenecks associated with the conflict, we expect the resulting impacts to become more apparent over the near term, with activity improving as conditions normalize.

Over the mid to long-term, we believe the industry is entering a period of tighter physical oil and gas markets, and we are well positioned to benefit as customers prioritize energy security, capacity additions, redundancy and infrastructure hardening, and as service intensity supports a tightening services environment. While we remain cautious on our activity profile as we calibrate macroeconomic conditions with customer demand, we are confident that our differentiated technologies and market penetration will provide a pathway to long-cycle growth. We continue to closely monitor and adapt to macroeconomic and trade conditions, potential supply chain disruptions, inflationary factors, and other labor and logistical constraints that could impact our operations and results.

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**Liquidity and Capital Resources**

At March 31, 2026, we had cash and cash equivalents of $1,012 million and $38 million in restricted cash, compared to $987 million of cash and cash equivalents and $55 million in restricted cash at December 31, 2025.

The following table summarizes cash flows provided by (used in) each type of business activity in the periods presented:

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| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|<br>*(Dollars in millions)* | **2026** | **2025** |
| Net Cash Provided by Operating Activities | $136 | $142 |
| Net Cash Used in Investing Activities | $(68) | $(79) |
| Net Cash Used in Financing Activities | $(56) | $(133) |

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***Operating Activities***

Cash provided by operating activities was $136 million for the three months ended March 31, 2026 compared to cash provided by operating activities of $142 million for the three months ended March 31, 2025. The decrease in cash provided by operating activities in the first quarter of 2026 over the same period in 2025 was primarily due to lower accounts receivable collections during the current period, offset by lower payments on accounts payable.

***Investing Activities***

Cash used in investing activities was $68 million for the three months ended March 31, 2026. The primary investing use of cash was for capital expenditures of $54 million. Cash used in investing activities also includes $12 million in equity investments.

Cash used in investing activities was $79 million for the three months ended March 31, 2025. The primary investing activities were cash used for capital expenditures of $77 million.

***Financing Activities***

Cash used in financing activities was $56 million for the three months ended March 31, 2026. The primary financing uses of cash were for cash dividends of $20 million, tax remittances on equity awards vested of $17 million and share repurchases of $10 million (see "Note 9 – Shareholders' Equity").

Cash used in financing activities was $133 million for the three months ended March 31, 2025. The primary financing uses of cash were share repurchases of $53 million, repayments and repurchases of long-term debt of $39 million, tax remittances on equity awards of $20 million and cash dividends of $18 million.

***Sources of Liquidity***

Our sources of available liquidity include cash generated by our operations, cash and cash equivalent balances, and periodic accounts receivable factoring. From time to time, we may enter into transactions to dispose of businesses or capital assets that no longer fit our long-term strategy. We historically have accessed banks for short-term loans and the capital markets for debt and equity offerings. Based upon current and anticipated levels of operations and collections, we expect to have sufficient cash from operations and cash on hand to fund our cash requirements (discussed below), both in the short-term and long-term.

***Cash Requirements***

Our cash requirements will continue to include payments for principal and interest on our long-term debt, capital expenditures, payments on our finance and operating leases, payments for short-term working capital needs, operating costs and restructuring payments. We expect to utilize cash in our capital allocation framework, which includes investments in technology and infrastructure upgrades, and in strategic mergers and acquisitions. Our cash requirements also include personnel costs, including awards under our employee incentive programs and other amounts to settle litigation related matters.

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In addition, we have derivative financial instruments where we have notional amounts that do not generally represent cash amounts exchanged by the parties and are calculated based on the terms of the derivative instrument, however, in the event of a related default, we could potentially be required to pay. See further discussion in our Consolidated Financial Statements included in our Form 10-K for the year ended December 31, 2025 ("2025 Form 10-K"). Our cash requirements also include payments for our shareholder returns programs described in "Note 9 – Shareholders' Equity."

As of March 31, 2026, we had outstanding debt of $236 million in aggregate principal amount for our 2030 Senior Notes and $1.2 billion in aggregate principal amount for our 2033 Senior Notes. We expect to pay $103 million in interest payments in 2026 specific to these notes. See "Note 7 – Borrowings and Other Debt Obligations" for additional information.

Our capital spend is expected to be 3-5% of revenue over a 12 to 18 month rolling period and our 2026 capital spend is projected to be within the same framework. Our payments on our operating and finance leases in 2026 are expected to be approximately $59 million and $37 million, respectively.

Cash and cash equivalents and restricted cash are held by subsidiaries outside of Ireland. At March 31, 2026 and December 31, 2025, we had approximately $145 million and $31 million, respectively, of our cash and cash equivalents that cannot be immediately repatriated from various countries due to country central bank controls or other regulations. As we continue to conduct business in certain countries with cash that cannot be immediately repatriated, we may consider infrequent transactions to safeguard our cash from exposure to the effects of inflation and currency devaluation. Repatriation of those cash balances might result in incremental taxes or losses.

***Ratings Services' Credit Ratings***

Our credit ratings at December 31, 2025 have been maintained as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***•*** Moody's Investors Service maintained a Corporate Family Rating of Ba2 and a positive outlook

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Standard and Poor maintained issuer credit ratings of 'BB;' with a stable outlook

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fitch Ratings maintained our issuer credit ratings of 'BB;' with a stable outlook

***Customer Receivables***

We may experience delays or defaults in customer payments due to, among other reasons, a weaker economic environment, reductions in our customers' cash flow from operations, our customers' inability to access credit markets or reach acceptable financing terms, as well as unsettled political and/or social conditions. Allowances have been recorded for receivables believed to be uncollectible, including amounts for the resolution of potential credit and other collection issues such as disputed invoices. Adjustments to the allowance are made depending on how potential issues are resolved and the financial condition of our customers. In addition, our customers are primarily in fossil fuel-related industries and broad declines in demand for or pricing of oil or natural gas might impact the collections of our customer receivables.

Our net accounts receivables in Mexico were 28% and 27% of our total net accounts receivables, as of March 31, 2026 and December 31, 2025, respectively, of which our largest customer in the country accounted for 24% of our total net outstanding accounts receivables at each date. Our largest customer in Mexico has a history of making late payments and, in more recent periods, has utilized third-party financial institutions to pay certain of our receivables. The balances due are not in dispute, however, additional or continued delays in customer payments in the future could differ from historical practice and management's current expectations; and delays or failures to pay or defaults, if any, could negatively impact the future results of the Company.

As of March 31, 2026 and December 31, 2025, our net accounts receivables in the U.S was 10% and 11% of total net accounts receivables, respectively. Except for the above, no other country accounted for more than 10% of our net accounts receivables balance.

***Accounts Receivable Factoring***

From time to time, we participate in factoring arrangements to sell accounts receivable to third-party financial institutions for cash proceeds net of discounts and hold-back. During the three months ended March 31, 2026 and March 31, 2025, we sold accounts receivable balances of $6 million and $55 million, and received cash proceeds of $6 million and $55 million, respectively, at the time of factoring. The above factoring proceeds were included in Net Cash Provided by Operating Activities in the Condensed Consolidated Statements of Cash Flows.

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***Guarantees***

Our 2030 Senior Notes were issued by Weatherford International Ltd. ("Weatherford Bermuda") and guaranteed by the Company and other subsidiary guarantors party thereto. On December 1, 2022, the indenture related to our 2030 Senior Notes was amended and supplemented to add Weatherford International, LLC (now Weatherford US Holding, LLC following a name change effective March 19, 2026, "Weatherford Delaware") as co-issuer and co-obligor, and concurrently released the guarantee of Weatherford Delaware.

Our 2033 Senior Notes were issued by Weatherford Bermuda and guaranteed by the Company and other subsidiary guarantors party thereto. On October 24, 2025, the indenture related to our 2033 Senior Notes was amended and supplemented to add Weatherford Delaware as co-issuer and co-obligor, and concurrently released the guarantee of Weatherford Delaware.

***Credit Agreement, Letters of Credit and Surety Bonds***

Weatherford Bermuda, Weatherford Delaware, Weatherford Canada Ltd. ("Weatherford Canada") and WOFS International Finance GmbH ("Weatherford Switzerland"), together as borrowers, and the Company as parent, have an amended and restated credit agreement (the "Credit Agreement"). The Credit Agreement is guaranteed by the Company and certain of our subsidiaries and secured by substantially all of the personal property of the Company and those subsidiaries. At March 31, 2026 and December 31, 2025, the Credit Agreement allowed for a total commitment amount of $1 billion, maturing on the earlier of (a) September 18, 2030 and (b) to the extent that more than $200 million of 2030 Senior Notes or Permitted Refinancing Indebtedness in respect thereof is outstanding on such date, the date that is 91 days prior to the stated maturity date of the 2030 Senior Notes or any Permitted Refinancing Indebtedness in respect thereof. Financial covenants in the Credit Agreement include a $250 million minimum liquidity covenant (which may increase up to $400 million dependent on the nature of transactions we may decide to enter into), a minimum interest coverage ratio of 2.50 to 1.00, a maximum total net leverage ratio of 3.50 to 1.00, and a maximum secured net leverage ratio of 1.50 to 1.00.

As of March 31, 2026, under the Credit Agreement we had zero borrowings, $7 million in financial letters of credit and $257 million in performance letters of credit outstanding. Additionally as of March 31, 2026, we had $193 million letters of credit under various uncommitted bi-lateral facilities ($32 million of which was cash collateral held and recorded in "Restricted Cash" on the Condensed Consolidated Balance Sheets).

As of December 31, 2025, under the Credit Agreement we had zero borrowings, $7 million in financial letters of credit and $245 million in performance letters of credit outstanding. Additionally as of December 31, 2025, we had $207 million of letters of credit under various uncommitted bi-lateral facilities ($47 million of which was cash collateral held and recorded in "Restricted Cash" on the Condensed Consolidated Balance Sheets).

We utilize surety bonds as part of our customary business practice in certain regions, primarily Latin America. As of March 31, 2026 and December 31, 2025, we had surety bonds outstanding of $570 million and $629 million, respectively. Any of our outstanding letters of credit or surety bonds could be called by the beneficiaries should we breach certain contractual or performance obligations and could reduce our available liquidity if we are unable to mitigate the issue.

**Forward-Looking Statements** 

This report contains various statements relating to future financial performance and results, business strategy, plans, goals and objectives, including certain projections, business trends, our shareholder returns program, and other statements that are not historical facts. These statements constitute forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "budget," "strategy," "plan," "guidance," "outlook," "may," "should," "could," "will," "would," "will be," "will continue," "will likely result," and similar expressions, although not all forward-looking statements contain these identifying words.

Forward-looking statements reflect our beliefs and expectations based on current estimates and projections. While we believe these expectations, and the estimates and projections on which they are based, are reasonable and were made in good faith, these statements are subject to numerous risks and uncertainties. Accordingly, our actual outcomes and results may differ materially from what we have expressed or forecasted in the forward-looking statements. The forward-looking statements included herein are only made as of the date of this report, or if earlier, as of the date they were made, and we undertake no obligation to correct, update or revise any forward-looking statement, whether as a result of new information, future events, or

------

otherwise, except to the extent required under federal securities laws. The following, together with disclosures under the heading "Item 1A. Risk Factors" in our 2025 Form 10-K, Part I, and "Part II – Other Information – Item 1A. Risk Factors" of this Form 10-Q, sets forth certain risks and uncertainties relating to our forward-looking statements that may cause actual results to be materially different from our present expectations or projections:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• global political, economic and market conditions, political disturbances, war or other global conflicts, terrorist attacks, changes in global trade policies, tariffs and sanctions, weak local economic conditions and international currency fluctuations (including the Russia Ukraine Conflict, the Iran Conflict and other conflicts in the Middle East);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• general global economic repercussions related to U.S. and global inflationary pressures and potential recessionary concerns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure to ensure on-going compliance with current and future laws and government regulations, including but not limited to those related to the Russia Ukraine Conflict, and environmental and tax and accounting laws, rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in, and the administration of, treaties, laws, and regulations, including in response to issues related to the Russia Ukraine Conflict such as nationalization of assets, and the potential for such issues to exacerbate other risks and uncertainties listed or referenced;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increases in the prices and lead times, and the lack of availability of our procured products and services, including due to macroeconomic and geopolitical conditions such as tariffs and changes in trade policies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to timely collect from customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cybersecurity incidents, as our reliance on digital technologies increases, those digital technologies may become more vulnerable and/or experience a higher rate of cybersecurity attacks, intrusions or incidents in the current environment of remote connectivity, as well as increased geopolitical conflicts and tensions, including as a result of the Russia Ukraine Conflict;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to comply with, and respond to, climate change, environmental, social and governance and other "sustainability" initiatives and future legislative and regulatory measures both globally and in the specific geographic regions in which we and our customers operate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to effectively and timely address the need to conduct our operations and provide services to our customers more sustainably and with a lower carbon footprint;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the price and price volatility of, and demand for, oil, natural gas and natural gas liquids;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• member-country quota compliance within the Organization of Petroleum Exporting Countries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to realize expected revenues and profitability levels from current and future contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to generate cash flow from operations to fund our operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to effectively and timely adapt our technology portfolio, products and services to remain competitive and to address and participate in changes to the market demands, including for the transition to alternate sources of energy such as geothermal, carbon capture and responsible abandonment, including our digitalization efforts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to realize cost savings and business enhancements from our revenue and cost improvement efforts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to effectively execute our capital allocation framework;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to attract, motivate and retain employees, including key personnel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to access the capital markets on terms that are commercially acceptable to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to manage our workforce, supply chain challenges and disruptions, business processes, information technology systems and technological innovation and commercialization, including the impact of our organization restructure, business enhancements, improvement efforts and the cost and support reduction plans;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to return capital to shareholders, including those related to the timing and amounts (including any plans or commitments in respect thereof) of any dividends and share repurchases;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to service our debt obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• potential non-cash asset impairment charges for long-lived assets, intangible assets or other assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adverse weather conditions in certain regions of our operations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• risks associated with disease outbreaks and other public health issues, including a pandemic, their impact on the global economy and our business, customers, suppliers and other partners; further spread and potential for a resurgence of a pandemic in a given geographic region and related disruptions to our business, employees, customers, suppliers and other partners and additional regulatory measures or voluntary actions that may be put in place to limit the spread of a pandemic, including vaccination requirements and the associated availability of vaccines, restrictions on business operations or social distancing requirements, and the duration and efficacy of such restrictions.

Many of these factors are macroeconomic in nature and are, therefore, beyond our control. Should one or more of these risks or uncertainties materialize, affect us in ways or to an extent that we currently do not expect or consider to be significant,

------

or should underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from those described in this report as anticipated, believed, estimated, expected, intended, planned or projected.

Finally, our future results will depend upon various other risks and uncertainties, including, but not limited to, those detailed in our current and past filings with the SEC under the Exchange Act and the Securities Act of 1933, as amended.

**Item 3. Quantitative and Qualitative Disclosures About Market Risk.**

Our exposure to market risk has not changed materially since December 31, 2025. For additional information, see Note 7 – Borrowings and Other Debt Obligations" in the Notes to Condensed Consolidated Financial Statements, as well as "Other Expense, Net" and "Liquidity and Capital Resources" under Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.

**Item 4. Controls and Procedures.**

*Evaluation of Disclosure Controls and Procedures.* Disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) are designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms. This information is collected and communicated to management, including our Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO"), as appropriate, to allow timely decisions regarding required disclosures.

Our management, under the supervision and with the participation of our CEO and CFO, evaluated the effectiveness of the design and operation of our disclosure controls and procedures at March 31, 2026. Based on that evaluation, our CEO and CFO concluded that our disclosure controls and procedures were effective as of March 31, 2026.

Our management identified no change in our internal control over financial reporting that occurred during the three months ended March 31, 2026 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

------

**PART II – OTHER INFORMATION**

**Item 1. Legal Proceedings.**

See "Note 8 – Disputes, Litigation and Legal Contingencies" in our Notes to Condensed Consolidated Financial Statements for details regarding our ongoing disputes and litigation.

**Item 1A. Risk Factors.** 

An investment in our securities involves various risks. You should consider carefully all of the risk factors described in our 2025 Form 10-K, Part I, under the heading "Item 1A. Risk Factors" as supplemented by the risk factors described in our definitive proxy statement on Schedule 14A filed with the SEC on April 21, 2026 and other information included and incorporated by reference in this report. As of March 31, 2026, there have been no material changes in our assessment of our risk factors from the aforementioned.

**Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.**

<u>Unregistered Sales of Equity Securities</u>

None.

<u>Issuer Repurchases of Equity Securities</u>

Following is a summary of our repurchases of our ordinary shares during the three months ended March 31, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of a Publicly Announced Program (1) | Maximum Dollar Value of Shares that may yet be Purchased Under the Program (1) |
| January 1 - 31 | 38909 | $87.35 | 38909 | $296593714 |
| February 1 - 28 | 31758 | $101.67 | 31758 | $293364912 |
| March 1 - 31 | 40462 | $92.41 | 40462 | $289625983 |
| Total | 111129 | $93.28 | 111129 |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(1)</sup> On July 23, 2024, we announced a program under which we may repurchase our ordinary shares from time to time, up to $500 million through June 2027. Approximately $290 million remained authorized for repurchases as of March 31, 2026. From the inception of this program in July of 2024 through March 31, 2026, we have repurchased approximately 3.0 million ordinary shares for $210 million.<br>

**Item 3. Defaults Upon Senior Securities.**

None.

**Item 4. Mine Safety Disclosures.**

Not applicable.

**Item 5. Other Information.**

During the three months ended March 31, 2026, no director or executive officer of the Company adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.

------

**Item 6. Exhibits.**

All exhibits designated with a dagger (†) are filed herewith or double dagger (††) are furnished herewith.

---

| | | | |
|:---|:---|:---|:---|
| **Exhibit Number** | **Description** | **Original Filed Exhibit** | **File Number** |
| †31.1 | <u>[Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](a2026-q1ex311ceo302cert.htm)</u> |  | File No. 1-36504 |
| †31.2 | <u>[Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](a2026-q1ex312cfo302cert.htm)</u> |  | File No. 1-36504 |
| ††32.1 | <u>[Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](a2026-q1ex321ceo906cert.htm)</u> |  | File No. 1-36504 |
| ††32.2 | <u>[Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](a2026-q1ex322cfo906cert.htm)</u> |  | File No. 1-36504 |
| †101.INS | XBRL Instance Document - The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document | XBRL Instance Document - The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document | XBRL Instance Document - The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document |
| †101.SCH | XBRL Taxonomy Extension Schema Document | XBRL Taxonomy Extension Schema Document | XBRL Taxonomy Extension Schema Document |
| †101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | XBRL Taxonomy Extension Calculation Linkbase Document | XBRL Taxonomy Extension Calculation Linkbase Document |
| †101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | XBRL Taxonomy Extension Definition Linkbase Document | XBRL Taxonomy Extension Definition Linkbase Document |
| †101.LAB | XBRL Taxonomy Extension Label Linkbase Document | XBRL Taxonomy Extension Label Linkbase Document | XBRL Taxonomy Extension Label Linkbase Document |
| †101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | XBRL Taxonomy Extension Presentation Linkbase Document | XBRL Taxonomy Extension Presentation Linkbase Document |
| †104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | | Weatherford International plc |
| Date: | April 22, 2026 | By: | /s/ Anuj Dhruv |
|  |  |  | Anuj Dhruv |
|  |  |  | Executive Vice President and Chief Financial Officer |
| Date: | April 22, 2026 | By: | /s/ Desmond J. Mills |
|  |  |  | Desmond J. Mills |
|  |  |  | Senior Vice President and Chief Accounting Officer |

---

## Exhibit 31.1

**Exhibit 31.1**

**CERTIFICATION OF CHIEF EXECUTIVE OFFICER** 

I, Girishchandra K. Saligram, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Weatherford International plc;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a - 15(f) and 15d - 15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c)evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d)disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: | April 22, 2026 |
| /s/ Girishchandra K. Saligram | /s/ Girishchandra K. Saligram |
| Girishchandra K. Saligram | Girishchandra K. Saligram |
| President and Chief Executive Officer | President and Chief Executive Officer |

---

## Exhibit 31.2

**Exhibit 31.2**

**CERTIFICATION OF CHIEF FINANCIAL OFFICER**

I, Anuj Dhruv, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Weatherford International plc;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a - 15(f) and 15d - 15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c)evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d)disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: | April 22, 2026 |
| /s/ Anuj Dhruv | /s/ Anuj Dhruv |
| Anuj Dhruv | Anuj Dhruv |
| Executive Vice President and Chief Financial Officer | Executive Vice President and Chief Financial Officer |

---

## Exhibit 32.1

**Exhibit 32.1**

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report on Form 10-Q of Weatherford International plc (the "Company") for the period ended March 31, 2026 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Girishchandra K. Saligram, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| | /s/ Girishchandra K. Saligram |
| Name: | Girishchandra K. Saligram |
| Title: | President and Chief Executive Officer |
| Date: | April 22, 2026 |

---

A signed original of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

The certification the registrant furnishes in this exhibit is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. Registration Statements or other documents filed with the Securities and Exchange Commission shall not incorporate this exhibit by reference, except as otherwise expressly stated in such filing.

## Exhibit 32.2

**Exhibit 32.2**

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report on Form 10-Q of Weatherford International plc (the "Company") for the period ended March 31, 2026 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Anuj Dhruv, Executive Vice President and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| | /s/ Anuj Dhruv |
| Name: | Anuj Dhruv |
| Title: | Executive Vice President and Chief Financial Officer |
| Date: | April 22, 2026 |

---

A signed original of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

The certification the registrant furnishes in this exhibit is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. Registration Statements or other documents filed with the Securities and Exchange Commission shall not incorporate this exhibit by reference, except as otherwise expressly stated in such filing.

<br>