# EDGAR Filing Document

**Accession Number:** 0000742278
**File Stem:** 0001104659-25-104292
**Filing Date:** 2025-10
**Character Count:** 211945
**Document Hash:** b183585df784e4e790cdcd3209852dd4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-104292.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0001104659-25-104292

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 85

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251030

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RPC INC
- **CENTRAL INDEX KEY:** 0000742278
- **STANDARD INDUSTRIAL CLASSIFICATION:** OIL, GAS FIELD SERVICES, NBC [1389]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 581550825
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-08726
- **FILM NUMBER:** 251434854

**BUSINESS ADDRESS:**
- **STREET 1:** 2801 BUFORD HIGHWAY NE, SUITE 300
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30329
- **BUSINESS PHONE:** 404-321-2140

**MAIL ADDRESS:**
- **STREET 1:** 2801 BUFORD HIGHWAY NE, SUITE 300
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30329

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RPC INC
- **DATE OF NAME CHANGE:** 19950809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RPC ENERGY SERVICES INC
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? RPC, INC._September 30, 2025

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

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

#### FORM 10-Q
☑ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF**

**THE SECURITIES EXCHANGE ACT OF 1934**

For the quarterly period ended September 30, 2025

**or**

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF**

**THE SECURITIES EXCHANGE ACT OF 1934**

For the transition period from __________to__________

Commission File No. 001-08726

### RPC, INC.
(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Delaware** | **58-1550825** |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification Number) |

---

---

| | |
|:---|:---|
| **2801 Buford Highway, Suite 300, Atlanta, Georgia 30329** | **2801 Buford Highway, Suite 300, Atlanta, Georgia 30329** |
| &nbsp;&nbsp;(Address of principal executive offices) | (Zip code) |

---

(404) 321-2140

(Registrant's telephone number, including area code)

Securities Registered under Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class: | Trading Symbol(s) | Name of each exchange on which registered: |
| Common stock, par value $0.10 | RES | New York Stock Exchange |

---

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. Yes **☒** No ☐

Indicate by check mark whether the registrant has submitted electronically, if any, 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). 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 definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Large accelerated filer | ☐ | Accelerated filer | ☒ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 October 24, 2025, RPC, Inc. had 220,574,475 shares of common stock outstanding.

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

#### RPC, INC. AND SUBSIDIARIES
**Table of Contents**

---

| | | |
|:---|:---|:---|
|  |  | **Page No.** |
| [**Part I. Financial Information**](#PARTIFINANCIALINFORMATION_677944) | [**Part I. Financial Information**](#PARTIFINANCIALINFORMATION_677944) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 1.](#ITEM1FINANCIALSTATEMENTS_11985) | [Financial Statements (Unaudited)](#ITEM1FINANCIALSTATEMENTS_11985) |  |
|  | [Consolidated Balance Sheets – As of September 30, 2025, and December 31, 2024](#Consolidated_BS_ANguyen) | 3 |
|  | [Consolidated Statements of Operations – For the three and nine months ended September 30, 2025, and 2024](#STATEMENTSOFOPERATIONS_788448) | 4 |
|  | [Consolidated Statements of Comprehensive Income – For the three and nine months ended September 30, 2025, and 2024](#CONSOLIDATEDSTATEMENTSOFCOMPREHENSIVEINC) | 5 |
|  | [Consolidated Statements of Stockholders' Equity – For the three and nine months ended September 30, 2025, and 2024](#STOCKHOLDERSEQUITY_644231) | 6 |
|  | [Consolidated Statements of Cash Flows – For the nine months ended September 30, 2025, and 2024](#CASHFLOWS_330698) | 7 |
|  | [Notes to Consolidated Financial Statements](#Notes_ConsolidatedFS_ANguyen) | 8 – 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 2.](#ITEM2MANAGEMENTSDISCUSSIONANDANALYSIS_35) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#ITEM2MANAGEMENTSDISCUSSIONANDANALYSIS_35) | 23 – 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 3.](#ITEM3QUANTITATIVEANDQUALITATIVEDISCLOSUR) | [Quantitative and Qualitative Disclosures about Market Risk](#ITEM3QUANTITATIVEANDQUALITATIVEDISCLOSUR) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 4.](#ITEM4CONTROLSANDPROCEDURES_75554) | [Controls and Procedures](#ITEM4CONTROLSANDPROCEDURES_75554) | 33 |
| [**Part II. Other Information**](#PARTIIOTHERINFORMATION_930606) | [**Part II. Other Information**](#PARTIIOTHERINFORMATION_930606) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 1.](#ITEM1LEGALPROCEEDINGS_133454) | [Legal Proceedings](#ITEM1LEGALPROCEEDINGS_133454) | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 1A.](#ITEM1ARISKFACTORS_417230) | [Risk Factors](#ITEM1ARISKFACTORS_417230) | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 2.](#ITEM2UNREGISTEREDSALESOFEQUITYSECURITIES) | [Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities](#ITEM2UNREGISTEREDSALESOFEQUITYSECURITIES) | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 3.](#ITEM3DEFAULTSUPONSENIORSECURITIES_45472) | [Defaults upon Senior Securities](#ITEM3DEFAULTSUPONSENIORSECURITIES_45472) | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 4.](#ITEM4MINESAFETYDISCLOSURES_52010) | [Mine Safety Disclosures](#ITEM4MINESAFETYDISCLOSURES_52010) | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 5.](#ITEM5OTHERINFORMATION_677109) | [Other Information](#item5otherinfomationreal) | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[Item 6.](#ITEM6EXHIBITS_957405) | [Exhibits](#ITEM6EXHIBITS_957405) | 36 |
| [**Signatures**](#SIGNATURES_208422) | [**Signatures**](#SIGNATURES_208422) | 37 |

---

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

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

**RPC, INC. AND SUBSIDIARIES**

CONSOLIDATED BALANCE SHEETS

AS OF SEPTEMBER 30, 2025, AND DECEMBER 31, 2024

(In thousands, except share and par value data)

---

| | | |
|:---|:---|:---|
|  | **September 30,** <br>**2025** | December 31, <br>2024 |
| **ASSETS** | **(Unaudited)** | Note 1 |
| Cash and cash equivalents | $**163462** | $325975 |
| Accounts receivable, net | **359901** | 276577 |
| Inventories | **117685** | 107628 |
| Income taxes receivable | **3376** | 4332 |
| Prepaid expenses | **12023** | 16136 |
| Retirement plan assets | **32653** |  |
| Other current assets | **12189** | 2194 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current assets | **701289** | 732842 |
| Property, plant and equipment, net | **560298** | 513516 |
| Operating lease right-of-use assets | **24726** | 27465 |
| Finance lease right-of-use assets | **5758** | 4400 |
| Goodwill | **74257** | 50824 |
| Other intangibles, net | **104501** | 13843 |
| Retirement plan assets | **—** | 30666 |
| Other assets | **27967** | 12933 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $**1498796** | $1386489 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| **LIABILITIES** |  |  |
| Accounts payable | $**143228** | $84494 |
| Accrued payroll and related expenses | **30651** | 25243 |
| Accrued insurance expenses | **9089** | 7942 |
| Accrued state, local and other taxes | **7096** | 3234 |
| Income taxes payable | **810** | 446 |
| Unearned revenue | **—** | 45376 |
| Current portion of operating lease liabilities  | **7482** | 7108 |
| Current portion of finance lease liabilities and finance obligations | **4222** | 3522 |
| Retirement plan liabilities | **24129** |  |
| Current portion of notes payable | **20000** |  |
| Accrued expenses and other liabilities | **5402** | 4548 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | **252109** | 181913 |
| Accrued insurance expenses | **13816** | 12175 |
| Retirement plan liabilities | **—** | 24539 |
| Notes payable | **30000** |  |
| Operating lease liabilities | **18291** | 21724 |
| Finance lease liabilities | **1011** | 559 |
| Other long-term liabilities | **10897** | 9099 |
| Deferred income taxes | **70279** | 58189 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | **396403** | 308198 |
| Commitments and contingencies (Note 12) |  |  |
| **STOCKHOLDERS' EQUITY** |  |  |
| Preferred stock, $0.10 par value, 1,000,000 shares authorized, none issued | **—** |  |
| Common stock, $0.10 par value, 349,000,000 shares authorized, 220,574,475 and 214,942,138 shares issued and outstanding in 2025 and 2024, respectively | **22058** | 21494 |
| Capital in excess of par value |  |  |
| Retained earnings | **1082989** | 1059625 |
| Accumulated other comprehensive loss | **(2654)** | (2828) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | **1102393** | 1078291 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and stockholders' equity** | $**1498796** | $1386489 |

---

The accompanying notes are an integral part of these consolidated financial statements.

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

**RPC, INC. AND SUBSIDIARIES**

CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025, AND 2024

(In thousands except per share data)

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended**  | **Three months ended**  | **Nine months ended** | **Nine months ended** |
|  | **September 30,**  | **September 30,**  | **September 30,**  | **September 30,**  |
|  | **2025** | 2024 | **2025** | 2024 |
| **Revenues** | $**447103** | $337652 | $**1200789** | $1079638 |
| COSTS AND EXPENSES: |  |  |  |  |
| Cost of revenues (exclusive of depreciation and amortization shown separately below) | **334673** | 247507 | **896314** | 786400 |
| Selling, general and administrative expenses | **44628** | 37697 | **127952** | 115188 |
| Acquisition related employment costs | **6467** |  | **13021** |  |
| Depreciation and amortization | **44098** | 35034 | **122068** | 97371 |
| Gain on disposition of assets, net | **(3563)** | (1790) | **(7288)** | (6342) |
| Operating income  | **20800** | 19204 | **48722** | 87021 |
| Interest expense | **(949)** | (261) | **(2087)** | (594) |
| Interest income | **1748** | 3523 | **6761** | 9831 |
| Other income, net | **968** | 1005 | **3005** | 2504 |
| Income before income taxes | **22567** | 23471 | **56401** | 98762 |
| Income tax provision  | **9604** | 4675 | **21260** | 20080 |
| **Net income**  | $**12963** | $18796 | $**35141** | $78682 |
| **Earnings per share** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $**0.06** | $0.09 | $**0.16** | $0.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $**0.06** | $0.09 | $**0.16** | $0.37 |

---

The accompanying notes are an integral part of these consolidated financial statements.

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

**RPC, INC. AND SUBSIDIARIES**

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025, AND 2024

(In thousands)

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended**  | **Three months ended**  | **Nine months ended**  | **Nine months ended**  |
|  | **September 30,**  | **September 30,**  | **September 30,**  | **September 30,**  |
|  | **2025** | 2024 | **2025** | 2024 |
| **Net income**  | $**12963** | $18796 | $**35141** | $78682 |
| Other comprehensive (loss) income: |  |  |  |  |
| &nbsp;&nbsp;Foreign currency translation | **(124)** | 61 | **174** | (105) |
| **Comprehensive income**  | $**12839** | $18857 | $**35315** | $78577 |

---

The accompanying notes are an integral part of these consolidated financial statements.

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

**RPC, INC. AND SUBSIDIARIES**

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025, AND 2024

(In thousands)

(Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Nine months ended September 30, 2025** | **Nine months ended September 30, 2025** | **Nine months ended September 30, 2025** | **Nine months ended September 30, 2025** | **Nine months ended September 30, 2025** | **Nine months ended September 30, 2025** |
|  | **Common Stock** | **Common Stock** | | | | |
|  | **Shares** | **Amount** | <br>**Capital in** <br>**Excess of**<br>**Par Value** | <br>**Retained**<br>**Earnings** | **Accumulated**<br>**Other**<br>**Comprehensive**<br>**Loss** | <br>**Total** |
| Balance, December 31, 2024 | 214942 | $21494 | $— | $1059625 | $(2828) | $1078291 |
| Stock issued for stock incentive plans, net | 1501 | 150 | 2629 |  |  | 2779 |
| Stock purchased and retired | (424) | (42) | (2629) | (197) |  | (2868) |
| Net income |  |  |  | 12030 |  | 12030 |
| Cash dividends ($0.04 per share) |  |  |  | (8653) |  | (8653) |
| Foreign currency translation |  |  |  |  | 7 | 7 |
| Balance, March 31, 2025 | 216019 | 21602 |  | 1062805 | (2821) | 1081586 |
| Stock issued for stock incentive plans, net | 4598 | 460 | 2885 |  |  | 3345 |
| Stock purchased and retired |  |  | (2885) | 2885 |  |  |
| Net income |  |  |  | 10148 |  | 10148 |
| Cash dividends ($0.04 per share) |  |  |  | (8825) |  | (8825) |
| Acquisition related employment costs |  |  |  | 4470 |  | 4470 |
| Foreign currency translation |  |  |  |  | 291 | 291 |
| Balance, June 30, 2025 | 220617 | 22062 |  | 1071483 | (2530) | 1091015 |
| Stock issued for stock incentive plans, net | **(43)** | **(4)** | **2981** | **—** | **—** | **2977** |
| Stock purchased and retired | **—** | **—** | **(2981)** | **2981** | **—** | **—** |
| Net income | **—** | **—** | **—** | **12963** | **—** | **12963** |
| Cash dividends ($0.04 per share) | **—** | **—** | **—** | **(8822)** | **—** | **(8822)** |
| Acquisition related employment costs | **—** | **—** | **—** | **4384** | **—** | **4384** |
| Foreign currency translation | **—** | **—** | **—** | **—** | **(124)** | **(124)** |
| **Balance, September 30, 2025** | **220574** | $**22058** | $**—** | $**1082989** | $**(2654)** | $**1102393** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Nine months ended September 30, 2024 | Nine months ended September 30, 2024 | Nine months ended September 30, 2024 | Nine months ended September 30, 2024 | Nine months ended September 30, 2024 | Nine months ended September 30, 2024 |
|  | Common Stock | Common Stock | | | | |
|  | Shares | Amount | <br>Capital in <br>Excess of<br>Par Value | <br>Retained<br>Earnings | Accumulated<br>Other<br>Comprehensive<br>Loss | <br>Total |
| Balance, December 31, 2023 | 215026 | $21502 | $— | $1003380 | $(2369) | $1022513 |
| Stock issued for stock incentive plans, net | 652 | 65 | 1861 |  |  | 1926 |
| Stock purchased and retired | (1331) | (133) | (1861) | (7888) |  | (9882) |
| Net income |  |  |  | 27467 |  | 27467 |
| Cash dividends ($0.04 per share) |  |  |  | (8621) |  | (8621) |
| Foreign currency translation |  |  |  |  | (113) | (113) |
| Balance, March 31, 2024 | 214347 | 21434 |  | 1014338 | (2482) | 1033290 |
| Stock issued for stock incentive plans, net | 662 | 67 | 2615 |  |  | 2682 |
| Stock purchased and retired |  |  | (2615) | 2615 |  |  |
| Net income |  |  |  | 32419 |  | 32419 |
| Cash dividends ($0.04 per share) |  |  |  | (8582) |  | (8582) |
| Foreign currency translation |  |  |  |  | (53) | (53) |
| Balance, June 30, 2024 | 215009 | 21501 |  | 1040790 | (2535) | 1059756 |
| Stock issued for stock incentive plans, net | (28) | (3) | 2382 |  |  | 2379 |
| Stock purchased and retired | (9) | (1) | (2382) | 2313 |  | (70) |
| Net income |  |  |  | 18796 |  | 18796 |
| Cash dividends ($0.04 per share) |  |  |  | (8581) |  | (8581) |
| Foreign currency translation |  |  |  |  | 61 | 61 |
| Balance, September 30, 2024 | 214972 | $21497 | $— | $1053318 | $(2474) | $1072341 |

---

The accompanying notes are an integral part of these consolidated financial statements.

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

**RPC, INC. AND SUBSIDIARIES**

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025, AND 2024

(In thousands)

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Nine months ended September 30,**  | **Nine months ended September 30,**  |
|  | **2025** | 2024 |
| **OPERATING ACTIVITIES** |  |  |
| **Net income**  | $**35141** | $78682 |
| Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;Depreciation and amortization | **122068** | 97371 |
| &nbsp;&nbsp;Stock-based compensation expense | **9101** | 6987 |
| &nbsp;&nbsp;Gain on disposition of assets, net | **(7288)** | (6342) |
| &nbsp;&nbsp;Gain due to benefit plan financing arrangement | **—** | (1151) |
| &nbsp;&nbsp;Deferred income tax provision  | **12090** | 3871 |
| &nbsp;&nbsp;Acquisition related employment costs | **13021** |  |
| &nbsp;&nbsp;Other non-cash adjustments | **(79)** | 149 |
| (Increase) decrease in assets: |  |  |
| &nbsp;&nbsp;Accounts receivable | **(4712)** | 49419 |
| &nbsp;&nbsp;Income taxes receivable | **956** | 51332 |
| &nbsp;&nbsp;Inventories | **(2386)** | (2658) |
| &nbsp;&nbsp;Prepaid expenses | **4417** | 6067 |
| &nbsp;&nbsp;Other current assets | **(1613)** | 96 |
| &nbsp;&nbsp;Retirement plan assets | **(1987)** | (2754) |
| &nbsp;&nbsp;Other non-current assets | **(2530)** | (665) |
| (Decrease) increase in liabilities: |  |  |
| &nbsp;&nbsp;Accounts payable | **(2214)** | 3167 |
| &nbsp;&nbsp;Income taxes payable | **364** | (52) |
| &nbsp;&nbsp;Unearned revenue | **(45376)** | (15743) |
| &nbsp;&nbsp;Accrued payroll and related expenses | **2384** | (10426) |
| &nbsp;&nbsp;Accrued insurance expenses | **1147** | 322 |
| &nbsp;&nbsp;Accrued state, local and other taxes | **3076** | 1607 |
| &nbsp;&nbsp;Other accrued expenses | **261** | (6050) |
| &nbsp;&nbsp;Retirement plan liabilities | **(410)** | 720 |
| &nbsp;&nbsp;Long-term accrued insurance expenses | **1641** | 1129 |
| &nbsp;&nbsp;Other long-term liabilities | **2396** | 137 |
| Net cash provided by operating activities | **139468** | 255215 |
| **INVESTING ACTIVITIES** |  |  |
| Capital expenditures | **(117780)** | (179460) |
| Proceeds from sale of assets | **15931** | 14127 |
| Purchase of business, net of cash and debt assumed | **(165656)** |  |
| Proceeds from benefit plan financing arrangement | **—** | 2380 |
| Re-investment in benefit plan financing arrangement | **—** | (2380) |
| Net cash used for investing activities | **(267505)** | (165333) |
| **FINANCING ACTIVITIES** |  |  |
| Payment of dividends | **(26300)** | (25784) |
| Repayment of debt assumed at acquisition | **(4502)** |  |
| Cash paid for common stock purchased and retired | **(2868)** | (9928) |
| Cash paid for finance lease | **(806)** | (592) |
| Net cash used for financing activities | **(34476)** | (36304) |
| Net (decrease) increase in cash and cash equivalents | **(162513)** | 53578 |
| Cash and cash equivalents at beginning of period | **325975** | 223310 |
| Cash and cash equivalents at end of period | $**163462** | $276888 |
| Supplemental cash flows disclosure: |  |  |
| &nbsp;&nbsp;Income tax payments (refunds), net | $**8030** | $(32920) |
| &nbsp;&nbsp;Interest paid | $**1723** | $127 |
| Supplemental disclosure of noncash investing activities: |  |  |
| &nbsp;&nbsp;Capital expenditures included in accounts payable | $**11680** | $7451 |

---

The accompanying notes are an integral part of these consolidated financial statements.

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

**RPC, INC. AND SUBSIDIARIES**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

1.&nbsp;&nbsp;&nbsp;&nbsp;GENERAL

The accompanying unaudited consolidated financial statements include the accounts of RPC, Inc. and its wholly-owned subsidiaries ("RPC" or "the Company") and have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. These consolidated financial statements have been prepared in accordance with Accounting Standards Codification (ASC) Topic 810, "Consolidation" and Rule 3A-02(a) of Regulation S-X. In accordance with ASC Topic 810 and Rule 3A-02 (a) of Regulation S-X, the Company's policy is to consolidate all subsidiaries and investees where it has voting control.

In the opinion of management, all adjustments (all of which consisted of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2025, are not necessarily indicative of the results to be expected for the year ending December 31, 2025.

The balance sheet at December 31, 2024, has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company's annual report on Form 10-K for the fiscal year ended December 31, 2024.

A group that includes Amy R. Kreisler and Timothy C. Rollins, each of whom is a director of the Company, certain of their family members, and certain companies under their and/or their family members' control, controls in excess of fifty percent of the Company's voting power.

Certain prior year amounts have been reclassified to conform to the presentation in the current year.

2. RECENT ACCOUNTING STANDARDS

**Recently Issued Accounting Standards Update (ASU) Not Yet Adopted:**

**ASU 2025-06: Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): *Targeted Improvements to the Accounting for Internal-Use Software:*** This ASU updates existing guidance related to the capitalization of development costs for internal-use software. These amendments update the threshold required to start capitalizing software costs and remove references to a sequential software development method. The provisions in this ASU are effective beginning in the first quarter of 2028. Early adoption is permitted as of the beginning of an annual reporting period. The Company is currently assessing the potential impact of adoption of these provisions on the consolidated financial statements.

**ASU 2024-03: Income Statement (Topic 220): *Disaggregation of Income Statement Expenses:*** The amendments in this ASU require public companies to disclose, in interim and year-end reporting periods, additional information about certain expenses in the financial statements. These disclosures are effective beginning with 2027 annual reports, and interim reports beginning with the third quarter of 2028. Early adoption is permitted on either a prospective or retrospective basis. The Company is currently assessing the potential impact of adoption of these provisions on the consolidated financial statements.

3. ACQUISITION

On April 1, 2025 (the "Closing Date"), RPC, through its wholly owned subsidiary, Thru Tubing Solutions, Inc., completed its previously announced acquisition of Pintail Alternative Energy, L.L.C ("Pintail"). Pursuant to the terms of the Membership Interest Purchase Agreement dated as of April 1, 2025 (the "Merger Agreement"), by and among RPC and Pintail, on the Closing Date, Pintail merged with and into RPC (the "Merger"), and Pintail continued as a wholly owned subsidiary of RPC. Pintail, headquartered in Midland, Texas, is a leading provider of oilfield wireline perforating services in the Permian Basin, and its conventional and electric wireline units are among the newest in the industry. The acquisition is building on RPC's diversified

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**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

oilfield services platform with geographic concentration in the most active oil producing region in the U.S. land market. Pintail is included in our Technical Services Segment.

Pursuant to the terms and subject to the conditions set forth in the Merger Agreement, on the Closing Date, 100% of Pintail's equity was automatically canceled and converted into the right to receive (i) $170 million in cash ("the Closing Cash"), (ii) $25 million of RPC common stock, which was paid by the issuance of 4,545,454 shares of restricted common stock of RPC ("Stock Consideration") to one of the previous owners (the "Seller"), and (iii) $50 million in the form of a secured note payable to Houston LP (the "Seller Note"). Interest on the Seller Note accrues at a variable rate equal to the Simple Secured Overnight Financing Rate ("SOFR"), for the applicable interest period, plus 2.0% per annum, or where applicable, at a specified default rate.

The Stock Consideration and 50% of the Seller Note (together "Contingent Consideration") are subject to continued employment of Seller for a period of three years and subject to automatic forfeiture in the event of Seller termination. In accordance with U.S. GAAP, the Contingent Consideration is not accounted for as part of purchase price. As of Closing Date, the Company evaluated the fair value of the Seller Note using a market interest rate based on the Company's IBR ("Incremental Borrowing Rate"). As the contractual interest rate on the Seller Note (6.0% based on prevailing SOFR) was materially consistent with the estimated market rate, the Seller Note was recorded on the Consolidated Balance Sheet at the estimated present value of $50 million. The Seller Note is disclosed as Notes Payable in the current and non-current section of Total liabilities on the Consolidated Balance Sheet as of September 30, 2025. The Company recognized an acquisition related employment obligation asset for $25 million, related to 50% of the Seller Note, that is part of the Contingent Consideration. This asset is being amortized over the three-year service period on a straight-line basis and reflected as part of Other assets in the current and non-current sections of Total assets on the Consolidated Balance Sheet as of September 30, 2025.

An additional net of tax amount totaling $28.1 million, ("Redistribution Payments") paid by the Seller out of Closing Cash, is subject to continued employment with RPC for a period of three years from the Closing Date. The Stock Consideration and Redistribution Payments are being amortized over the three-year service period and recorded as Acquisition related employment costs and Additional Paid in Capital.

Non-cash expenses related to the Contingent Consideration and the Redistribution Payments are reflected as Acquisition related employment costs in the Consolidated Statement of Operations. For the three months ended September 30, 2025 and for the period from April 1, 2025 to September 30, 2025, this amount totaled $6.5 million and $13.0 million, respectively.

The Company incurred transaction expenses of approximately $183 thousand and $1.2 million for the three and nine months ended September 30, 2025, respectively, which are included in Selling, general and administrative expenses within the Company's Consolidated Statements of Operations.

The acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805, Business Combinations ("ASC 805"), primarily using Level 3 inputs. The preliminary purchase price allocation disclosed as of June 30, 2025 has been revised to reflect the working capital adjustment finalization and other updates that resulted in decreases in Accounts Payable of $6.3 million and Goodwill of $18.9 million together with an increase in Customer relationships of $400 thousand. Amounts shown in the following table represent the current preliminary fair value estimates. As additional information becomes available and final analyses and allocations are completed, we may further revise the preliminary acquisition consideration allocation during the remainder of the measurement period, which will not exceed one year from the acquisition date. As of September 30, 2025, adjustments related to property, plant and equipment is the primary area open for finalization. Such revisions or changes may be material.

The purchase price under U.S. GAAP was $181.4 million, which consisted of Closing Cash of $170.0 million and $25.0 million of the Seller Note not contingent on continued service, offset by $13.6 million of contractual adjustments for Pintail's final net working capital, cash and debt. Amount due from the seller for the final working capital settlement of $12.3 million is included in Accounts receivable on the Consolidated Balance Sheets as of September 30, 2025. The final working capital settlement has not been reflected as a reduction in the purchase of business on the Consolidates Statements of Cashflows for the nine months ended September 30, 2025, since it remained uncollected as of that date. This amount was collected in full on October 23, 2025.

The excess of the purchase price over the fair value of the net assets acquired was allocated to goodwill, which is being amortized over 15 years for income tax purposes. Goodwill is attributable to synergies expected to be achieved from the

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**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

combined operations of the Company and Pintail and the assembled workforce. The accompanying Consolidated Balance Sheet as of September 30, 2025 includes the assets and liabilities of Pintail, which have been measured at fair value as of the acquisition date.

The preliminary allocation of purchase price recorded for Pintail under U.S. GAAP as of the Closing Date was as follows:

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| | |
|:---|:---|
|  | **Amount** |
| Cash and cash equivalents | $3000 |
| Accounts receivable | 66268 |
| Inventories | 7544 |
| Prepaid expenses | 302 |
| Property, plant and equipment, net | 49310 |
| Operating lease right-of-use assets | 541 |
| Finance lease right-of-use assets | 1134 |
| Other intangibles, net | 97300 |
| Other assets | 6 |
| &nbsp;&nbsp;**Total assets** | **225405** |
| Accounts payable | (46288) |
| Accrued payroll and related expenses | (4911) |
| Accrued state, local and other taxes | (1498) |
| Current portion of notes payable | (4375) |
| Current portion of operating lease liabilities | (514) |
| Accrued expenses and other liabilities | (8673) |
| Long-term finance lease liabilities | (1159) |
| &nbsp;&nbsp;**Total liabilities** | **(67418)** |
| **Net assets acquired** | **157987** |
| **Preliminary purchase price allocation** | **181420** |
| **Goodwill recorded** | $**23433** |

---

The purchase price allocation above excludes the contingent portion of total consideration consisting of $25 million of the Seller Note and $25 million of Stock Consideration.

The following table summarizes the amounts allocated to identifiable intangible assets acquired:

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| | | |
|:---|:---|:---|
|  | **Preliminary Fair Value** | **Estimated Useful Life** |
| *(in thousands)* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Customer relationships | $87200 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade names and trademarks  | 10100 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Intangible assets acquired** | $**97300** |  |

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The fair value of customer relationships was estimated using the multi-period excess earnings method. The excess earnings methodology is an income approach methodology that estimates the projected cash flows of the business attributable to the customer relationships intangible assets, net of charges for the use of other identifiable assets of the business including working capital, fixed assets and other intangible assets. The fair value of trade names was estimated using the relief-from-royalty method, which presumes the owner of the asset avoids hypothetical royalty payments that would need to be made for the use of the asset if the asset was not owned.

Pintail recognizes revenue over time in an amount equal to consideration received for transferred goods or services to customers. In addition, Pintail has elected the right to invoice practical expedient for recognizing revenue related to its

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**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

performance obligations. The Company assumed finance leases related to trucks and operating leases for both vehicles and certain real estate. There were no favorable or unfavorable market terms for the leases.

Pintail's operating results are included in the Consolidated Statements of Operations for the period from Apil 1, 2025 to September 30, 2025. Pintail's revenues for the three months ended September 30, 2025 were $99.8 million and $198.6 million for the period from April 1, 2025, to September 30, 2025. Pintail's Net income for the three months ended September 30, 2025, was $7.2 million and $14.2 million for the period from April 1, 2025, to September 30, 2025, using a normalized estimated effective tax rate. Pintail's Net income includes the impact of the amortization of intangibles totaling $2.6 million and $5.2 million, as well as other purchase accounting adjustments, for the three months ended September 30, 2025, and for the period from April 1, 2025, to September 30, 2025, respectively. Acquisition related employment costs are recorded at the consolidated level and not allocated to Pintail.

The following unaudited pro forma financial information presents the Company's results of operations for the three and nine months ended September 30, 2025, and 2024, as if the acquisition of Pintail had occurred on January 1, 2024. The unaudited pro forma information includes incremental depreciation expense related to fair value adjustments to property, plant and equipment, amortization of intangible assets acquired, removal of non-recurring transaction costs directly associated with the Merger, and interest expense on the Seller Note, as well as the Acquisition related employment costs associated with the Contingent Consideration and Redistribution Payments. The unaudited pro forma financial information does not give effect to any anticipated cost savings, operating efficiencies or other synergies that may be associated with the acquisition, or any estimated costs that have been or will be incurred by the Company to integrate the assets and operations of Pintail.

The unaudited pro forma financial information presented below is for comparative purposes only and is not necessarily indicative of the Company's operating results that may have occurred had the acquisition of Pintail been completed on January 1, 2024.

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended**  | **Three months ended**  | **Nine months ended**  | **Nine months ended**  |
|  | **September 30,**  | **September 30,**  | **September 30,**  | **September 30,**  |
|  | **2025** | 2024 | **2025** | 2024 |
| *(in thousands)* |  |  |  |  |
| Revenues | $**447103** | $442422 | $**1308541** | $1387295 |
| Net income | **12963** | 27180 | **39430** | 102855 |

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4.&nbsp;&nbsp;&nbsp;&nbsp;REVENUES

#### Accounting Policy:
RPC's contract revenues are generated principally from providing oilfield services. These services are based on mutually agreed upon pricing with the customer prior to the services being delivered and, given the nature of the services, do not include the right of return. Pricing for these services is a function of rates based on the nature of the specific job, with consideration for the extent of equipment, labor, and consumables needed for the job. RPC typically satisfies its performance obligations over time as the services are performed. RPC records revenues based on the transaction price agreed upon with its customers.

Sales tax charged to customers is presented on a net basis within the accompanying Consolidated Statements of Operations and therefore excluded from revenues.

#### Nature of services:
RPC provides a broad range of specialized oilfield services to independent and major oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States and in selected international markets. RPC manages its business as either (1) services offered on the well site with equipment and personnel (Technical Services) or (2) services and tools offered off the well site (Support Services). For more detailed information about the Company's operating segments, see Note titled Business Segment and Entity Wide Disclosures.

Our contracts with customers are generally short-term in nature and generally consist of a single performance obligation – the provision of oilfield services. RPC contracts with its customers to provide the following services by reportable segment:

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**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

*Technical Services*

● Includes pressure pumping, downhole tools, wireline, coiled tubing, cementing, snubbing, nitrogen, well control and fishing.

*Support Services*

● Rental tools – RPC rents tools to its customers for use with onshore and offshore oil and gas well drilling, completion and workover activities.

● Other support services include pipe handling and pipe inspection and storage services, and well control training.

#### Payment terms:
RPC's contracts with customers state the final terms of the sales, including the description, quantity, and price of each service to be delivered. The Company's contracts are generally short-term in nature and in most situations, RPC provides services ahead of payment - i.e., RPC has fulfilled the performance obligation prior to submitting a customer invoice. RPC invoices the customer upon completion of the specified services and collection is generally expected between 30 to 60 days after invoicing. As the Company enters into contracts with its customers, it generally expects there to be no significant timing difference between the date the services are provided to the customer (satisfaction of the performance obligation) and the date cash consideration is received. Accordingly, there is no financing component to our arrangements with customers.

#### Significant judgments:
RPC believes the output method is a reasonable measure of progress for the satisfaction of our performance obligations, which are satisfied over time, as it provides a faithful depiction of (1) our performance toward complete satisfaction of the performance obligation under the contract and (2) the value transferred to the customer of the services performed under the contract. RPC has elected the right to invoice practical expedient for recognizing revenue related to its performance obligations.

#### Disaggregation of revenues:
See Note titled Business Segment and Entity Wide Disclosures for disaggregation of revenue by operating segment and services offered in each of them and by geographic regions.

#### Contract balances:
Contract assets representing the Company's rights to consideration for work completed but not billed are included in accounts receivable, net in the accompanying Consolidated Balance Sheets and are shown below:

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| | | |
|:---|:---|:---|
|  | **September 30,** <br>**2025** | December 31, <br>2024 |
| *(in thousands)* |  |  |
| Unbilled trade receivables | $**74266** | $60951 |

---

Substantially all the unbilled trade receivables disclosed were, or are expected to be, invoiced during the following quarter.

**Unearned revenue**

Contract liabilities represent payments received in advance of satisfying the Company's performance obligation and are recognized over time as the service is performed. All of the $45.4 million recorded as unearned revenue as of December 31, 2024, was recognized as revenues by June 30, 2025.

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**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

5.&nbsp;&nbsp;&nbsp;&nbsp;STOCK-BASED COMPENSATION

The Company has issued various forms of stock incentives, including incentive and non-qualified stock options, time-lapse restricted shares and performance share unit awards under its Stock Incentive Plans to officers, selected employees and non-employee directors.

As of September 30, 2025, there were 5,746,631 shares available for grant under the Company's 2024 Stock Incentive Plan. In addition, there were 394,723 shares available under the 2014 Stock Incentive plan that are reserved for the potential vesting of performance stock unit awards granted in 2023.

6. DEPRECIATION AND AMORTIZATION

Depreciation and amortization disclosed in the Consolidated Statements of Operations related to the following components:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended**  | **Three months ended**  | **Nine months ended**  | **Nine months ended**  |
|  | **September 30,**  | **September 30,**  | **September 30,**  | **September 30,**  |
|  | **2025** | 2024 | **2025** | 2024 |
| *(in thousands)* |  |  |  |  |
| Cost of revenues | $**38383** | $31820 | $**107408** | $88664 |
| Selling, general and administrative expenses | **5715** | 3214 | **14660** | 8707 |
| Total | $**44098** | $35034 | $**122068** | $97371 |

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7. INCOME TAXES

The Company generally determines its periodic income tax expense or benefit based upon the current period income or loss and the annual estimated tax rate for the Company adjusted for discrete items including changes to prior period estimates. In certain instances, the Company uses the discrete method when it believes the actual year-to-date effective rate provides a more reliable estimate of its income tax rate for the period. The estimated tax rate is revised, if necessary, at the end of each successive interim period to the Company's current annual estimated tax rate.

For the three months ended September 30, 2025, the effective rate reflects a provision of 42.6% compared to a provision of 19.9% for the comparable period in the prior year. For the nine months ended September 30, 2025, the effective rate reflects a provision of 37.7% compared to a provision of 20.3% for the comparable period in the prior year. The effective tax rate was unusually high primarily due to the non-deductible portion of Acquisition related employment costs and provision to tax return adjustments.

In the third quarter of 2025, RPC implemented the provisions of the One Big, Beautiful Bill Act ("OBBBA"). Implementation of the OBBBA provisions resulted in an increase of approximately $17.1 million in deferred income tax liability with a corresponding increase in income taxes receivable due to the 100% bonus depreciation on capital expenditures placed in service after January 19th, 2025 and immediate expensing of all domestic research and development costs, that were previously amortized over five years. Implementation of the OBBBA provisions did not have an impact on our effective rate or the Income tax provision in our Consolidated Statements of Operations for the three and nine months ended September 30, 2025.

8.&nbsp;&nbsp;&nbsp;&nbsp;EARNINGS PER SHARE

Basic and diluted earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the respective periods. In addition, the Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and are therefore considered participating securities. The following table shows the

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**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

restricted shares of common stock and Stock consideration issued to the Seller as part of Pintail acquisition (participating securities) outstanding and a reconciliation of outstanding weighted average shares:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended**  | **Three months ended**  | **Nine months ended**  | **Nine months ended**  |
|  | **September 30,**  | **September 30,**  | **September 30,**  | **September 30,**  |
|  | **2025** | 2024 | **2025** | 2024 |
| *(in thousands)* |  |  |  |  |
| Net income available for stockholders  | $**12963** | $18796 | $**35141** | $78682 |
| Less: Adjustments for earnings attributable to participating securities | **(489)** | (308) | **(986)** | (1219) |
| Net income used in calculating earnings per share | $**12474** | $18488 | $**34155** | $77463 |
| Weighted average shares outstanding (including participating securities) | **220575** | 214976 | **218959** | 214940 |
| Adjustment for participating securities | **(8331)** | (3728) | **(4054)** | (3341) |
| Shares used in calculating basic and diluted earnings per share | **212244** | 211248 | **214905** | 211599 |

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9.&nbsp;&nbsp;&nbsp;&nbsp;CURRENT EXPECTED CREDIT LOSSES

The Company utilizes an expected credit loss model for valuing its accounts receivable, a financial asset measured at amortized cost. The Company is exposed to credit losses primarily from providing oilfield services. The Company's expected allowance for credit losses for accounts receivable is based on historical collection experience, current and future economic and market conditions and a review of the current status of customers' account receivable balances. Due to the short-term nature of such receivables, the estimated amount of accounts receivable that may not be collected is based on aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Company's monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of customers' financial condition and macroeconomic conditions. Balances are written off when determined to be uncollectible and recoveries of amounts previously written off are recorded when collected.

The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected:

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| | | |
|:---|:---|:---|
|  | **Nine months ended**  | **Nine months ended**  |
|  | **September 30,**  | **September 30,**  |
|  | **2025** | 2024 |
| *(in thousands)* |  |  |
| Beginning balance | $**7906** | $7109 |
| Provision for current expected credit losses | **980** | 438 |
| Write-offs | **(1291)** | (747) |
| Recoveries collected (net of expenses) | **98** | 31 |
| Ending balance | $**7693** | $6831 |

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10.&nbsp;&nbsp;&nbsp;&nbsp;INVENTORIES

Inventories consist of (i) raw materials and supplies that are consumed providing services to the Company's customers, (ii) spare parts for equipment used in providing these services and (iii) components and attachments for manufactured equipment used in providing services. In the table below, spare parts and components are included as part of raw materials and supplies; tools that are assembled using components are reported as finished goods. Inventories are recorded at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method or the weighted average cost method.

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| | | |
|:---|:---|:---|
|  | **September 30,**  | December 31,  |
| *(in thousands)* | **2025** | 2024 |
| Raw materials and supplies | $**107226** | $97857 |
| Finished goods | **10459** | 9771 |
| Total Inventory | $**117685** | $107628 |

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**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

11. OTHER INTANGIBLES, NET

Intangible assets are amortized over their legal or estimated useful life. The following table provides a summary of the gross carrying value and accumulated amortization by each major intangible asset class as of September 30, 2025, and December 31, 2024:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | **September 30, 2025** | **September 30, 2025** | December 31, 2024 | December 31, 2024 |
|  | <br>**Estimated Useful Life (in years)** | **Gross Carrying Amount** | **Accumulated Amortization** | Gross <br> Carrying <br>Amount | Accumulated Amortization |
| *(in thousands)* |  |  |  |  |  |
| Finite-lived Intangibles: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customer relationships | 10 | $**97200** | $**(6610)** | $10000 | $(1500) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trade names and trademarks  | 10 | **13619** | **(1544)** | 3519 | (799) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Software licenses | 3 | **5350** | **(3514)** | 5350 | (2727) |
|  |  | $**116169** | $**(11668)** | $18869 | $(5026) |

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During the second quarter of 2025, the Company acquired intangible assets; see Note titled Acquisition for additional details related to the intangible assets acquired.

Amortization expense for each of the periods presented follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended**  | **Three months ended**  | **Nine months ended**  | **Nine months ended**  |
|  | **September 30,**  | **September 30,**  | **September 30,**  | **September 30,**  |
|  | **2025** | 2024 | **2025** | 2024 |
| *(in thousands)* |  |  |  |  |
| Amortization of finite-lived intangible assets | $**3609** | $592 | $**7219** | $1537 |

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Estimated future amortization expense based on balances as of September 30, 2025, were as follows: $3.6 million for the remainder of 2025 and approximately $14 million for each of the years 2026 through 2029.

12. &nbsp;&nbsp;&nbsp;&nbsp;COMMITMENTS AND CONTINGENCIES

Sales and Use Taxes - The Company has ongoing sales and use tax audits in various jurisdictions and may be subjected to varying interpretations of statutes that could result in unfavorable outcomes. In accordance with ASC 450-20, Loss Contingencies, any probable and reasonable estimates of assessment costs have been included in Accrued state, local and other taxes in the accompanying Consolidated Balance Sheet.

The Company has outstanding state tax notifications of audit results related to sales and use tax and has evaluated the perceived merits of this tax assessment with its outside legal counsel. The Company believes the likelihood of a material loss related to these contingencies is remote and the amount of liability cannot be reasonably estimated at this time. Therefore, no loss has been recorded and the Company currently does not believe the resolution of these claims will have a material impact on its consolidated financial position, results of operations or cash flows.

Litigation - RPC is a party to various routine legal proceedings primarily involving commercial claims, employee liability and workers' compensation claims and claims for personal injury. RPC insures against these risks to the extent deemed prudent by its management, but no assurance can be given that the nature and amount of such insurance will, in every case, fully indemnify RPC against liabilities arising out of pending and future legal proceedings related to its business activities.

13.&nbsp;&nbsp;&nbsp;&nbsp; RETIREMENT PLANS

In the fourth quarter of 2024, the Board of Directors approved the termination of the Supplemental Retirement Plan ("SERP"). Pursuant to the Internal Revenue Service rules, participant balances are required to be distributed between 12 and 24

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**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

months after termination. The Company currently expects to distribute the participant balances in the fourth quarter of 2025 by liquidating all the assets currently held in the Rabbi Trust. Retirement Plan assets and liabilities were classified as long-term on December 31, 2024, balance sheet and were reclassed to short-term as of June 30, 2025, when the decision to liquidate the assets and distribute participant balances in the fourth quarter of 2025 was made. As of September 30, 2025, the Retirement plan assets and Retirement plan liabilities related to the SERP are reported as part of current assets and current liabilities in the accompanying Consolidated Balance Sheet.

The Company permitted, through December 31, 2024, selected highly compensated employees to defer a portion of their compensation to the SERP. The Company maintains certain securities primarily in mutual funds and company-owned life insurance policies as a funding source to satisfy the obligations of the SERP that have been classified as trading and are stated at fair value totaling $32.7 million as of September 30, 2025, and $30.7 million as of December 31, 2024. Trading gains related to the SERP assets totaled $1.1 million during the three months ended September 30, 2025, compared to trading gains of $1.0 million during the three months ended September 30, 2024. Trading gains related to the SERP assets totaled $1.9 million during the nine months ended September 30, 2025, compared to trading gains of $2.7 million during the nine months ended September 30, 2024. As of September 30, 2025, the SERP assets are reported in Retirement plan assets in the accompanying Consolidated Balance Sheets. Changes in the fair value of these assets are reported in the accompanying Consolidated Statements of Operations as compensation cost in Selling, general and administrative expenses.

The SERP liabilities include participant deferrals, net of distributions, and are stated at fair value of approximately $24.1 million as of September 30, 2025, and $24.5 million as of December 31, 2024. As of September 30, 2025 the SERP liabilities are reported in the accompanying Consolidated Balance Sheets in Retirement plan liabilities. Changes in fair value are recorded as compensation cost within Selling, general and administrative expenses in the accompanying Consolidated Statements of Operations. Changes in the fair value of the SERP liabilities was the result of an increase of $1.1 million due to unrealized gains on participant balances during the three months ended September 30, 2025, compared to an increase of $1.1 million due to unrealized gains on participant balances during the three months ended September 30, 2024. Changes in the fair value of the SERP liabilities resulted in unrealized gains of $2.0 million during the nine months ended September 30, 2025, compared to unrealized gains of $2.8 million during the nine months ended September 30, 2024.

14.&nbsp;&nbsp;&nbsp;&nbsp;NOTES PAYABLE

The Company has a revolving Credit Agreement with Bank of America and four other lenders which provides for a line of credit of up to $100 million, including a $35 million letter of credit sub-facility, and a $35 million swingline sub-facility. The facility contains customary terms and conditions, including restrictions on indebtedness, dividend payments, business combinations and other related items. The revolving credit facility includes a full and unconditional guarantee by the Company's 100% owned domestic subsidiaries whose assets equal substantially all of the consolidated assets of the Company and its subsidiaries. Certain of the Company's minor subsidiaries are not guarantors. The Credit Agreement's maturity date is July 22, 2027, and the interest rate is based on Term Secured Overnight Financing Rate (Term SOFR). In addition, the terms of the agreement have a 1.00% per annum floor for Base Rate borrowings and permits the issuance of letters of credit in currencies other than U.S. dollars.

Under the Credit Agreement, when RPC's trailing four quarter EBITDA (as calculated under the Credit Agreement) is equal to or greater than $50 million: (i) the consolidated leverage ratio cannot exceed 2.50:1.00 and (ii) the debt service coverage ratio must be equal to or greater than 2.00:1.00; otherwise, the minimum tangible net worth must be greater than or equal to $400 million. As of both September 30, 2025, and 2024, the Company was in compliance with these covenants.

Revolving loans under the amended revolving credit facility bear interest at one of the following two rates at the Company's election:

● Term SOFR; plus, a margin ranging from 1.25% to 2.25% , based on a quarterly consolidated leverage ratio calculation, and an additional SOFR Adjustment ranging from 10 to 30 basis points depending upon maturity length; or

● the Base Rate, which is a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 0.50% , (b) Bank of America's publicly announced "prime rate," and (c) the Term SOFR plus 1.00% , or (d) 1.00% ; in each case plus a margin that ranges from 0.25% to 1.25% based on a quarterly consolidated leverage ratio calculation.

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**RPC, INC. AND SUBSIDIARIES**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

In addition, the Company pays an annual fee ranging from 0.20% to 0.30%, based on a quarterly consolidated leverage ratio calculation, on the unused portion of the credit facility.

As of September 30, 2025, RPC had no outstanding borrowings under the revolving credit facility, and letters of credit outstanding relating to self-insurance programs and contract bids totaled $15.8 million; therefore, a total of $84.2 million of the facility was available. During the second quarter of 2025, the Company assumed a Seller Note as part of the Pintail acquisition; see the Note titled Acquisitions for additional details related to the Seller Note. Interest incurred, which includes interest on the Seller Note, facility fees on the unused portion of the revolving credit facility and the amortization of loan costs, and interest paid on the Seller Note and the credit facility were as follows for the periods indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended**  | **Three months ended**  | **Nine months ended**  | **Nine months ended**  |
|  | **September 30,**  | **September 30,**  | **September 30,**  | **September 30,**  |
| *(in thousands)* | **2025** | 2024 | **2025** | 2024 |
| Interest incurred | $**880** | $73 | $**1831** | $220 |
| Interest paid | **848** | 43 | **1723** | 127 |

---

15. FAIR VALUE DISCLOSURES

The various inputs used to measure assets at fair value establish a hierarchy that distinguishes between assumptions based on market data (observable inputs) and the Company's assumptions (unobservable inputs). The hierarchy consists of three broad levels as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Level 1 – Quoted market prices in active markets for identical assets or liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Level 3 – Unobservable inputs developed using the Company's estimates and assumptions, which reflect those that market participants would use.

The Company determines the fair value of equity securities that have a readily determinable fair value through quoted market prices. The total fair value is the final closing price, as defined by the exchange in which the asset is actively traded, on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs.

Trading securities are comprised of the SERP assets, as described in the Note titled Retirement Plans, and are recorded primarily at their net cash surrender values, calculated using their net asset values, which approximates fair value, as provided by the issuing insurance or investment company. Significant observable inputs, in addition to quoted market prices, were used to value the equity securities. The Company's policy is to recognize transfers between levels at the beginning of quarterly reporting periods. For the quarter ended September 30, 2025, there were no significant transfers in or out of levels 1, 2 or 3.

Under the Company's revolving credit facility, there was no balance outstanding at September 30, 2025, and December 31, 2024. Borrowings under our revolving credit facility and Seller Note are typically based on the quote from the lender (level 2 inputs), which approximates fair value, and bear variable interest rates as described in the Note titled Notes Payable. The Company is subject to interest rate risk, to the extent there are outstanding borrowings on the variable component of the interest rate.

The carrying amounts of other financial instruments reported in the balance sheet for current assets and current liabilities approximate their fair values because of the short maturity of these instruments. The Company currently does not use the fair value option to measure any of its existing financial instruments and has not determined whether it will elect this option for financial instruments acquired in the future.

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**RPC, INC. AND SUBSIDIARIES**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

16. ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss consists of the following:

---

| | |
|:---|:---|
|  | **Foreign**<br>**Currency**<br>**Translation** |
| *(in thousands)* |  |
| Balance at December 31, 2024 | $(2828) |
| Change during the period: |  |
| &nbsp;&nbsp;Before-tax amount | **174** |
| Balance at September 30, 2025 | $**(2654)** |

---

---

| | |
|:---|:---|
|  | Foreign<br>Currency<br>Translation |
| *(in thousands)* |  |
| Balance at December 31, 2023 | $(2369) |
| Change during the period: |  |
| &nbsp;&nbsp;Before-tax amount | (105) |
| Balance at September 30, 2024 | $(2474) |

---

17. CASH PAID FOR COMMON STOCK PURCHASED AND RETIRED

The Company has a stock buyback program to repurchase up to 49,578,125 shares in the open market. During the three months ended September 30, 2025, there were no shares repurchased by the Company in the open market. As of September 30, 2025, there were 12,768,870 shares remaining available to be repurchased. The program does not have a preset expiration date. Repurchases of shares of the Company's common stock may be made from time to time in the open market, by block purchases, in privately negotiated transactions or in such other manner as determined by the Company. The timing of the repurchases and the actual amount repurchased will depend on a variety of factors, including the market price of the Company's shares, general market and economic conditions, and other factors. The stock repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be suspended or discontinued at any time.

Shares purchased for withholding taxes represent taxes due upon vesting of time-based restricted share awards granted to employees.

Total share repurchases for each of the periods presented are detailed below:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Nine months ended September 30, 2025** | **Nine months ended September 30, 2025** | **Nine months ended September 30, 2025** | Nine months ended September 30, 2024 | Nine months ended September 30, 2024 | Nine months ended September 30, 2024 |
|  | **No. of Shares** | **Avg. Price** | **Total Cost** | No. of Shares | Avg. Price | Total Cost |
| *(in thousands except per share data)* |  |  |  |  |  |  |
| Shares purchased for withholding taxes | **424** | $**6.76** | $**2868** | 332 | $7.28 | $2416 |
| Open market purchases | **—** | **—** | **—** | 1010 | 7.44 | 7512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | **424** | $**6.76** | $**2868** | 1342 | $7.40 | $9928 |

---

Excise tax paid on share repurchases totaling $24 thousand in 2024 is not included in the amounts shown above.

18.&nbsp;&nbsp;&nbsp;&nbsp;BUSINESS SEGMENT AND ENTITY WIDE DISCLOSURES

RPC's reportable segments are the same as its operating segments. RPC manages its business under Technical Services and Support Services. Technical Services is comprised of service lines that generate revenue based on equipment, personnel or materials at the well site and are closely aligned with completion and production activities of our customers. Support Services is comprised of service lines which generate revenue from services and tools offered off the well site and are more closely aligned with the customers' drilling activities. Selected overhead including certain centralized support services and regulatory compliance are classified as Corporate.

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

**RPC, INC. AND SUBSIDIARIES**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

Technical Services consists primarily of pressure pumping, downhole tools, wireline, coiled tubing, cementing, snubbing, nitrogen, well control and fishing. The services offered under Technical Services are high capital and personnel intensive businesses. The Company considers all of these services to be closely integrated oil and gas well servicing businesses and makes resource allocation and performance assessment decisions based on this operating segment as a whole across these various services.

Support Services consist primarily of drill pipe and related tools, pipe handling, pipe inspection and storage services, and oilfield training services. The demand for these services tends to be influenced primarily by customer drilling-related activity levels.

The accounting policies of the reportable segments are the same as those referenced in Note titled General. Gains or losses on disposition of assets are reviewed on a consolidated basis, and accordingly the Company does not report gains or losses at the segment level. Intersegment revenues are generally recorded in segment operating results at prices that management believes approximate prices for arm's length transactions and are not material to operating results.

RPC's Company's Chief Operating Decision Maker ("CODM") CODM is its Chief Executive Officer. For each of the reportable segments, the CODM uses operating income to allocate resources (equipment, financial, and human resources. The CODM assesses performance and makes resource allocation decisions regarding, among others, staffing, growth and maintenance capital expenditures and key initiatives based on the operating segments.

Significant segment expense by reportable segment for the three and nine months ended September 30, 2025 and 2024 are shown in the following tables:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three months ended**  | **Three months ended**  | **Three months ended**  | **Nine months ended**  | **Nine months ended**  | **Nine months ended**  |
|  | **September 30,**  | **September 30,**  | **September 30,**  | **September 30,**  | **September 30,**  | **September 30,**  |
|  | **Technical** <br>**Services** | **Support**<br> **Services** | <br>**Total** | **Technical** <br>**Services** | **Support**<br> **Services** | <br>**Total** |
| *(in thousands)* |  |  |  |  |  |  |
| **2025** |  |  |  |  |  |  |
| Revenues | $**422206** | $**24897** | $**447103** | $**1130804** | $**69985** | $**1200789** |
| Employment costs <sup>(1)</sup> | **102133** | **5749** | **107882** | **277019** | **16316** | **293335** |
| Materials and supplies | **113119** | **984** | **114103** | **298586** | **2779** | **301365** |
| Maintenance & repairs | **59967** | **3444** | **63411** | **155483** | **8990** | **164473** |
| Fleet and transportation | **14140** | **793** | **14933** | **37749** | **2281** | **40030** |
| Other cost of revenues <sup>(2)</sup> | **33155** | **1189** | **34344** | **93471** | **3640** | **97111** |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of revenues (exclusive of depreciation and amortization) | $**322514** | $**12159** | $**334673** | $**862308** | $**34006** | $**896314** |
| Employment costs <sup>(1)</sup> | **17465** | **2620** | **20085** | **48015** | **7737** | **55752** |
| Enterprise shared services <sup>(3)</sup> | **6824** | **207** | **7031** | **25969** | **1092** | **27061** |
| Other selling, general and administrative expenses <sup>(4)</sup> | **10785** | **1399** | **12184** | **23817** | **4358** | **28175** |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | $**35074** | $**4226** | $**39300** | $**97801** | $**13187** | $**110988** |
| Segment depreciation and amortization | **41011** | **3067** | **44078** | **111121** | **10888** | **122009** |
| Segment operating income | $**23607** | $**5445** | $**29052** | $**59574** | $**11904** | $**71478** |
| Unallocated corporate expenses <sup>(5)</sup> |  |  | **5348** |  |  | **17023** |
| Acquisition related employment costs |  |  | **6467** |  |  | **13021** |
| Gain on sale of assets |  |  | **(3563)** |  |  | **(7288)** |
| Operating income |  |  | $**20800** |  |  | $**48722** |

---

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**RPC, INC. AND SUBSIDIARIES**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Three months ended  | Three months ended  | Three months ended  | Nine months ended  | Nine months ended  | Nine months ended  |
|  | September 30,  | September 30,  | September 30,  | September 30,  | September 30,  | September 30,  |
|  | Technical <br>Services | Support<br>Services | <br>Total | Technical <br>Services | Support<br>Services | <br>Total |
| *(in thousands)* |  |  |  |  |  |  |
| 2024 |  |  |  |  |  |  |
| Revenues | $313492 | $24160 | $337652 | $1011370 | $68268 | $1079638 |
| Employment costs <sup>(1)</sup> | 72291 | 4870 | 77161 | 227060 | 15206 | 242266 |
| Materials and supplies | 75012 | 1119 | 76131 | 254210 | 2668 | 256878 |
| Maintenance & repairs | 46611 | 3156 | 49767 | 147571 | 8603 | 156174 |
| Fleet and transportation | 17705 | 1003 | 18708 | 47458 | 2573 | 50031 |
| Other cost of revenues <sup>(2)</sup> | 24383 | 1357 | 25740 | 76594 | 4457 | 81051 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of revenues (exclusive of depreciation and amortization) | $236002 | $11505 | $247507 | $752893 | $33507 | $786400 |
| Employment costs <sup>(1)</sup> | 13165 | 2153 | 15318 | 42724 | 6890 | 49614 |
| Enterprise shared services <sup>(3)</sup> | 8258 | 264 | 8522 | 25770 | 1006 | 26776 |
| Other selling, general and administrative expenses <sup>(4)</sup> | 7960 | 1701 | 9661 | 23349 | 4424 | 27773 |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | $29383 | $4118 | $33501 | $91843 | $12320 | $104163 |
| Segment depreciation and amortization | 31764 | 3250 | 35014 | 88137 | 9176 | 97313 |
| Segment operating income | $16343 | $5287 | $21630 | $78497 | $13265 | $91762 |
| Unallocated corporate expenses <sup>(5)</sup> |  |  | 4216 |  |  | 11083 |
| Gain on sale of assets |  |  | (1790) |  |  | (6342) |
| Operating income |  |  | $19204 |  |  | $87021 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Employment costs include employee payroll, share-based compensation, bonuses and amounts related to benefits for each of the income statement items. Additional employment costs are included within the Enterprise shared services amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Includes expenses related to rent, travel, insurance and other costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Includes costs incurred at the enterprise level that are allocated to each reportable segment based on payroll cost, headcount and revenues.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Includes professional fees, utilities, travel & entertainment and other costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Unallocated corporate expenses are included in selling general and administrative expenses at the consolidated level.

The table below shows the reconciliation of segment totals to the consolidated level for the three and nine months ended September 30, 2025 and 2024:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three months ended September 30,** | **Three months ended September 30,** | **Three months ended September 30,** | **Three months ended September 30,** | **Three months ended September 30,** |
|  | **Technical**<br>**Services** | **Support**<br>**Services** | **Segment**<br>**Total** | **Unallocated**<br>**Total** | **Consolidated**<br>**Total** |
| *(in thousands)* |  |  |  |  |  |
| **2025** |  |  |  |  |  |
| Selling, general and administrative expenses | $**35074** | $**4226** | $**39300** | $**5328** | $**44628** |
| Depreciation and amortization | **41011** | **3067** | **44078** | **20** | **44098** |
| Capital expenditures <sup>(1)</sup> | **32838** | **8676** | **41514** | **943** | **42457** |
| Total assets, end of period <sup>(2)</sup> | $**1114712** | $**99455** | $**1214167** | $**284629** | $**1498796** |
| 2024 |  |  |  |  |  |
| Selling, general and administrative expenses | $29383 | $4118 | $33501 | $4196 | $37697 |
| Depreciation and amortization | 31764 | 3250 | 35014 | 20 | 35034 |
| Capital expenditures <sup>(1)</sup> | 44526 | 6831 | 51357 | 304 | 51661 |

---

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**RPC, INC. AND SUBSIDIARIES**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Nine months ended September 30,** | **Nine months ended September 30,** | **Nine months ended September 30,** | **Nine months ended September 30,** | **Nine months ended September 30,** |
|  | **Technical**<br>**Services** | **Support**<br>**Services** | **Segment**<br>**Total** | **Unallocated**<br>**Total** | **Consolidated**<br>**Total** |
| *(in thousands)* |  |  |  |  |  |
| **2025** |  |  |  |  |  |
| Selling, general and administrative expenses | $**97801** | $**13187** | $**110988** | $**16964** | $**127952** |
| Depreciation and amortization | **111121** | **10888** | **122009** | **59** | **122068** |
| Capital expenditures <sup>(1)</sup> | $**91329** | $**23770** | $**115099** | $**2681** | $**117780** |
| 2024 |  |  |  |  |  |
| Selling, general and administrative expenses | $91843 | $12320 | $104163 | $11025 | $115188 |
| Depreciation and amortization | 88137 | 9176 | 97313 | 58 | 97371 |
| Capital expenditures <sup>(1)</sup> | $159743 | $17751 | $177494 | $1966 | $179460 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Unallocated total primarily related to corporate and enterprise services capital expenditures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Unallocated total primarily consists of cash and cash equivalents of $163.5 million managed at corporate as of September 30, 2025.

The following summarizes revenues for the United States and separately for all international locations combined for the three and nine months ended September 30, 2025, and 2024. The revenues are based on the location of the use of the equipment or services. Assets related to international operations are less than 10% of RPC's consolidated assets and therefore are not presented.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended**  | **Three months ended**  | **Nine months ended**  | **Nine months ended**  |
|  | **September 30,**  | **September 30,**  | **September 30,**  | **September 30,**  |
|  | **2025** | 2024 | **2025** | 2024 |
| *(in thousands)* |  |  |  |  |
| United States revenues | $**439204** | $326963 | $**1176430** | $1048379 |
| International revenues | **7899** | 10689 | **24359** | 31259 |
| Total revenues | $**447103** | $337652 | $**1200789** | $1079638 |

---

#### Segment Revenues:
RPC's operating segment revenues by major service lines are shown in the following table:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended**  | **Three months ended**  | **Nine months ended**  | **Nine months ended**  |
|  | **September 30,**  | **September 30,**  | **September 30,**  | **September 30,**  |
|  | **2025** | 2024 | **2025** | 2024 |
| *(in thousands)* |  |  |  |  |
| Technical Services: |  |  |  |  |
| Pressure Pumping | $**124769** | $129579 | $**367583** | $452991 |
| Downhole Tools | **105024** | 97954 | **298476** | 292418 |
| Coiled Tubing  | **42465** | 29761 | **110085** | 101913 |
| Wireline | **104863** | 5004 | **212705** | 14404 |
| Cementing | **24192** | 26972 | **79479** | 82761 |
| Nitrogen | **7283** | 9151 | **23345** | 27047 |
| Snubbing | **6473** | 8949 | **21225** | 19083 |
| All other  | **7137** | 6122 | **17906** | 20753 |
| Total Technical Services | **422206** | 313492 | **1130804** | 1011370 |
| Support Services: |  |  |  |  |
| Rental Tools | **18737** | 17475 | **52094** | 50871 |
| All other | **6160** | 6685 | **17891** | 17397 |
| Total Support Services | **24897** | 24160 | **69985** | 68268 |
| Total revenues | $**447103** | $337652 | $**1200789** | $1079638 |

---

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**RPC, INC. AND SUBSIDIARIES**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

19. SUBSEQUENT EVENT

*Dividends*

On October 28, 2025, the Board of Directors declared a regular quarterly cash dividend of $0.04 per share payable December 10, 2025, to common stockholders of record at the close of business on November 10, 2025.

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**RPC, INC. AND SUBSIDIARIES**

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

#### Overview
The following discussion should be read in conjunction with the Consolidated Financial Statements included elsewhere in this document. See also Forward-Looking Statements on page 32.

RPC, Inc. ("RPC" or "the Company") provides a broad range of specialized oilfield services primarily to independent and major Oilfield companies engaged in exploration, production and development of oil and gas properties throughout the United States, including the Gulf of America, mid-continent, southwest, Rocky Mountain and Appalachian regions, and in selected international locations. The Company's revenues and profits are generated by providing equipment and services to customers who operate oil and gas properties and invest capital to drill new wells and enhance production or perform maintenance on existing wells. We continuously monitor factors that impact current and expected customer activity levels, such as the prices of oil and natural gas, changes in pricing for our services and equipment, and utilization of our equipment and personnel. Our financial results are affected by geopolitical factors such as political instability in the petroleum-producing regions of the world, the actions of the OPEC oil cartel, overall economic conditions and weather in the United States, the prices of oil and natural gas, other shifting trends in our industry, and our customers' drilling and production activities.

**The discussion of our key business and financial strategies set forth under the Overview section in the Company's annual report on Form 10-K for the fiscal year ended December 31, 2024, is incorporated herein by reference.** 

**During the third quarter of 2025, total revenues of $447.1 million increased by $109.5 million or 32.4% compared to the same period in the prior year.** 

#### Operating income was $20.8 million for the three months ended September 30, 2025, compared to $19.2 million for the same period of 2024.
**Net income for the three months ended September 30, 2025, was $13.0 million, or $0.06 diluted earnings per share compared to net income of $18.8 million, or $0.09 diluted earnings per share in the same period of 2024.**

**Net cash provided by operating activities decreased to $139.5 million for the nine months ended September 30, 2025, compared to $255.2 million for the same period of 2024.**

On April 1, 2025 (the "Closing Date"), RPC, through its wholly owned subsidiary, Thru Tubing Solutions, Inc., completed its acquisition of Pintail Alternative Energy, L.L.C. ("Pintail"). Headquartered in Midland, Texas, Pintail is a leading provider of oilfield wireline perforating services in the Permian Basin and its conventional and electric wireline units are among the newest in the industry. The acquisition is building on RPC's diversified oilfield services platform with geographic concentration in the most active oil producing region in the U.S. land market. Pintail is included in the Company's Technical Services Segment.

On the Closing Date, 100% of Pintail's equity was automatically canceled and converted into the right to receive (i) $170 million in cash, without interest, (ii) $25 million of RPC common stock, which was paid by the issuance of 4,545,454 shares of restricted common stock of RPC to one of the previous owners, and (iii) $50 million in the form of a secured note payable to Houston LP (the "Seller Note"). Interest on the Seller Note accrues at a variable rate equal to the Simple Secured Overnight Financing Rate, for the applicable interest period, plus 2.0% per annum, or where applicable, at a specified default rate. The Company began making interest payments on the Seller Note in the second quarter of 2025.

As of September 30, 2025, there were no outstanding borrowings under our credit facility.

**How We Evaluate Our Operations**

We use Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), Adjusted EBITDA, Adjusted EBITDA margin and Free cash flow, all non-GAAP measures, to evaluate and analyze the operating performance of our businesses.

We believe that EBITDA, Adjusted EBITDA, Adjusted EBITDA margin and Free cash flow are important indicators of performance. Adjusted EBITDA is defined as EBITDA, adjusted for unusual (income)/expenses. Adjusted EBITDA margin reflects Adjusted EBITDA as a percentage of revenues. Management believes that EBITDA, Adjusted EBITDA and Adjusted EBITDA margin

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**RPC, INC. AND SUBSIDIARIES**

enable investors to compare the operating performance of our core business consistently over various time periods without regard to changes in our capital structure. Management believes that Free cash flow, which measures our ability to generate needed cash from business operations, is an important financial measure for evaluating RPC's financial condition. Our definition of Free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures, since the measure does not deduct the payments required for debt service and other contractual obligations or payments made for business acquisitions.

EBITDA, Adjusted EBITDA and Adjusted EBITDA margin have limitations as analytical tools and should not be considered as an alternative to net income/(loss), operating income/(loss), and related margins, or any other measure of financial performance presented in accordance with accounting principles generally accepted in the United States of America (GAAP). Similarly, Free cash flow should be considered in addition to, rather than as a substitute for GAAP presentation of net cash provided by operating activities, as a measure of our financial condition.

See Non-GAAP Financial Measures below for a reconciliation of EBITDA and Adjusted EBITDA to net income, and Adjusted EBITDA margin to net income margin, the most directly comparable financial measures calculated and presented in accordance with GAAP and a reconciliation of Free Cash Flow to Operating Cash Flow, the most directly comparable financial measure calculated and presented in accordance with GAAP.

**Results of Operations**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended**  | **Three months ended**  | **Nine months ended** | **Nine months ended** |
|  | **September 30,**  | **September 30,**  | **September 30,**  | **September 30,**  |
|  | **2025** | 2024 | **2025** | 2024 |
| *(in thousands, except for percentages)* |  |  |  |  |
| Revenues by business segment: |  |  |  |  |
| &nbsp;&nbsp;Technical | $**422206** | $313492 | $**1130804** | $1011370 |
| &nbsp;&nbsp;Support | **24897** | 24160 | **69985** | 68268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | **447103** | 337652 | **1200789** | 1079638 |
| Cost of revenues (exclusive of depreciation and amortization shown separately below) | **334673** | 247507 | **896314** | 786400 |
| Selling, general and administrative expenses | **44628** | 37697 | **127952** | 115188 |
| Acquisition related employment costs | **6467** |  | **13021** |  |
| Depreciation and amortization | **44098** | 35034 | **122068** | 97371 |
| Gain on disposition of assets | **(3563)** | (1790) | **(7288)** | (6342) |
| Other income, net | **(968)** | (1005) | **(3005)** | (2504) |
| Interest expense | **949** | 261 | **2087** | 594 |
| Interest income | **(1748)** | (3523) | **(6761)** | (9831) |
| Income tax provision | **9604** | 4675 | **21260** | 20080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | $**12963** | $18796 | $**35141** | $78682 |
| &nbsp;&nbsp;Net income margin | **2.9%** | 5.6% | **2.9%** | 7.3% |
| &nbsp;&nbsp;Net cash provided by operating activities | $**46525** | $70728 | $**139468** | $255215 |
| Non-GAAP Financial Measures |  |  |  |  |
| &nbsp;&nbsp;Adjusted EBITDA | $**72333** | $55243 | $**186816** | $186896 |
| &nbsp;&nbsp;Adjusted EBITDA margin | **16.2%** | 16.4% | **15.6%** | 17.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Free cash flow | $**4068** | $19067 | $**21688** | $75755 |

---

#### THREE MONTHS ENDED SEPTEMBER 30, 2025 COMPARED TO THREE MONTHS ENDED SEPTEMBER 30, 2024
*Revenues.* Revenues of $447.1 million for the three months ended September 30, 2025, increased 32.4% compared to the three months ended September 30, 2024. The increase in revenues was primarily due to revenues of $99.8 million from recently acquired Pintail coupled with revenue increases in coiled tubing and downhole tools, partially offset by a decrease in pressure pumping. The pressure pumping market remains highly competitive. Management believes the industry continues to be over-supplied and efficiency gains are contributing to excess capacity in the industry. These challenges, as well as a declining rig count, have impacted activity levels, asset utilization, and pricing. International revenues represented 1.8% of total revenues in the third quarter of 2025 compared to

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**RPC, INC. AND SUBSIDIARIES**

3.2% in the same period of the prior year. We believe that international revenues will continue to be less than 10% of RPC's consolidated revenues in the foreseeable future.

During the third quarter of 2025, the average price of oil was 14.0% lower and the average price of natural gas was 44.8% higher, both compared to the same period in the prior year. The average domestic rig count (Source: Baker Hughes, Inc.) for the three months ended September 30, 2025, was 7.8% lower than in the same period in 2024.

The Technical Services segment revenues for the third quarter of 2025 increased by 34.7% compared to the same period of the prior year due primarily to the acquisition of Pintail, partially offset by a decrease in pressure pumping revenues. Technical Services reported operating income was $24.4 million during the third quarter of 2025 compared to operating income of $16.3 million in the third quarter of 2024. The increase in Technical Services operating income was primarily due to results from recently acquired Pintail, partially offset by lower pricing in pressure pumping. Support Services segment revenues for the third quarter of 2025 increased by 3.1% compared to the same period in the prior year, primarily due to higher activity levels within rental tools. Support Services reported operating income of $4.6 million for the third quarter of 2025 compared to operating income of $5.3 million for the third quarter of 2024. Third quarter 2025 Support Services operating income decreased by $682 thousand compared to the third quarter of the prior year.

*Cost of revenues.* Cost of revenues increased 35.2% to $334.7 million for the three months ended September 30, 2025, compared to $247.5 million for the three months ended September 30, 2024 primarily due to costs from recently acquired Pintail. In accordance with Staff Accounting Bulletin (SAB) Topic 11.B, cost of revenues presented on the Consolidated Statements of Operations excludes depreciation and amortization totaling $38.4 million for the third quarter of 2025 compared to $31.8 million for the third quarter of 2024.

*Selling, general and administrative expenses.* Selling, general and administrative expenses increased to $44.6 million for the three months ended September 30, 2025, compared to $37.7 million for the three months ended September 30, 2024, primarily due to an increase in employment incentives and higher other employment related costs, coupled with expenses from recently acquired Pintail.

*Acquisition related employment costs.* Acquisition related employment costs of $6.5 million represent non-cash accounting adjustments related to the Pintail acquisition costs that are contingent upon continued employment. The remaining Acquisition related employment costs, totaling $65.1 million, are expected to be recognized equally over the next 10 quarters.

*Depreciation and amortization.* Depreciation and amortization increased 25.9% to $44.1 million for the three months ended September 30, 2025, compared to $35.0 million for the three months ended September 30, 2024. Depreciation and amortization increased due to additional fixed assets and intangibles related to the Pintail acquisition, coupled with capital expenditures in the past year.

*Gain on disposition of assets, net.* Gain on disposition of assets, net was $3.6 million for the three months ended September 30, 2025, compared to $1.8 million for the three months ended September 30, 2024. The gain on disposition of assets, net is generally comprised of gains and losses related to various property and equipment dispositions or sales to customers of lost or damaged rental equipment.

*Other income, net.* Other income, net was $1.0 million for both the three months ended September 30, 2025 and the same period in the prior year.

*Interest expense and interest income.* Interest expense increased to $949 thousand for the three months ended September 30, 2025, compared to $261 thousand for the three months ended September 30, 2024 primarily due to interest on the Seller Note issued in conjunction with the Pintail acquisition. Interest expense includes interest on the Seller Note, facility fees on the unused portion of the credit facility and the amortization of loan costs. Interest income decreased to $1.7 million compared to $3.5 million in the prior year due to a lower average cash balance, primarily due to the acquisition of Pintail on April 1, 2025.

*Income tax provision.* Income tax provision was $9.6 million during the three months ended September 30, 2025 compared to $4.7 million in the same period in the prior year. The effective tax rate was 42.6% for the three months ended September 30, 2025 compared to a 19.9% effective tax rate for the same period in the prior year. The effective tax rate was unusually high primarily due to the non-deductible portion of Acquisition related employment costs and provision to tax return adjustments.

*Net income, net income margin and diluted earnings per share*. Net income was $13.0 million during the three months ended September 30, 2025, or $0.06 diluted earnings per share, compared to net income of $18.8 million during the three months ended

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**RPC, INC. AND SUBSIDIARIES**

September 30, 2024, or $0.09 diluted earnings per share. Net income margin was 2.9% for the three months ended September 30, 2025, compared to 5.6% for the same period in the prior year.

*Adjusted EBITDA and Adjusted EBITDA margin.* Adjusted EBITDA was $72.3 million, and Adjusted EBITDA margin was 16.2% for the three months ended September 30, 2025 compared to $55.2 million and 16.4%, respectively, for the same period in the prior year.

*Cash provided by operating activities and Free cash flow.* Cash provided by operating activities was $46.5 million for the three months ended September 30, 2025, compared to $70.7 million for the three months ended September 30, 2024. The decrease in cash provided by operating activities is due primarily to unfavorable changes in working capital, coupled with lower net income. Free cash flow was $4.1 million for the three months ended September 30, 2025 compared to $19.1 million for the three months ended September 30, 2024, primarily due to a decrease in cash provided by operating activities, partially offset by lower capital expenditures.

#### NINE MONTHS ENDED SEPTEMBER 30, 2025, COMPARED TO NINE MONTHS ENDED SEPTEMBER 30, 2024
*Revenues.* Revenues of $1.2 billion for the nine months ended September 30, 2025, increased 11.2% compared to the nine months ended September 30, 2024. The increase in revenues was primarily due to revenues of 198.6 million from recently acquired Pintail partially offset by lower pressure pumping activity levels compared to the prior year. The pressure pumping market remains highly competitive. Management believes the industry continues to be over-supplied and efficiency gains are contributing to excess capacity in the industry. These challenges, as well as a declining rig count, have impacted activity levels, asset utilization, and pricing. International revenues represented 2.0% of total revenues in the first nine months of 2025 compared to 2.9% in the same period of the prior year. We believe that international revenues will continue to be less than 10% of RPC's consolidated revenues in the foreseeable future.

During the first nine months of 2025, the average price of oil was 14.1% lower and the average price of natural gas was 64.2% higher, both compared to the same period in the prior year. The average domestic rig count (Source: Baker Hughes, Inc.) for the nine months ended September 30, 2025, was 6.3% lower than in the same period in 2024.

The Technical Services segment revenues for the nine months ended September 30, 2025 increased by 11.8% compared to the same period of the prior year due primarily to results from recently acquired Pintail, partially offset by a decrease in Pressure Pumping revenues. Technical Services reported operating income of $59.6 million during the nine months ended September 30, 2025 compared to operating income of $78.5 million in the same period of the prior year. The decrease in Technical Services operating income was primarily due to lower pricing coupled with increased activity in pressure pumping and several other service lines. Support Services segment revenues for the nine months ended September 30, 2025 increased by 2.5% compared to the same period in the prior year, primarily due to higher activity levels within rental tools. Support Services reported operating income of $11.9 million for the nine months ended September 30, 2025 compared to operating income of $13.3 million for the same period in the prior year. Support Services operating income for the nine months ended September 30, 2025 decreased by $1.4 million compared to the nine months ended September 30, 2024, due to lower pricing coupled with increased activity for rental tools.

*Cost of revenues.* Cost of revenues increased 14.0% to $896.3 million for the nine months ended September 30, 2025, compared to $786.4 million for the nine months ended September 30, 2024 primarily due to costs from recently acquired Pintail. Excluding results from Pintail, cost of revenues decreased in line with revenues primarily due to a decrease in expenses consistent with lower activity levels, such as materials and supplies, fleet and transportation and maintenance and repairs expenses. In accordance with Staff Accounting Bulletin (SAB) Topic 11.B, cost of revenues presented on the Consolidated Statements of Operations excludes depreciation and amortization totaling $107.4 million for the nine months ended June 30, 2025 compared to $88.7 million for the same period in the prior year.

*Selling, general and administrative expenses.* Selling, general and administrative expenses increased to $128.0 million for the nine months ended September 30, 2025, compared to $115.2 million for the nine months ended September 30, 2024, primarily due to an increase in employment incentives and higher other employment related costs, coupled with expenses from recently acquired Pintail.

*Acquisition related employment costs.* Acquisition related employment costs of $13.0 million represent non-cash accounting adjustments related to the Pintail acquisition costs that are contingent upon continued employment. The remaining Acquisition related employment costs, totaling $65.1 million, are expected to be recognized equally over the next 10 quarters.

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**RPC, INC. AND SUBSIDIARIES**

*Depreciation and amortization.* Depreciation and amortization increased 25.4% to $122.1 million for the nine months ended September 30, 2025, compared to $97.4 million for the nine months ended September 30, 2024. Depreciation and amortization increased due to additional fixed assets and intangibles related to the Pintail acquisition, coupled with capital expenditures in the past year.

*Gain on disposition of assets, net.* Gain on disposition of assets, net was $7.3 million for the nine months ended September 30, 2025, compared to $6.3 million for the nine months ended September 30, 2024. The gain on disposition of assets, net is generally comprised of gains and losses related to various property and equipment dispositions or sales to customers of lost or damaged rental equipment.

*Other income, net.* Other income, net was $3.0 million for the nine months ended September 30, 2025, compared to $2.5 million for the same period in the prior year.

*Interest expense and interest income.* Interest expense increased to $2.1 million for the nine months ended September 30, 2025, compared to $594 thousand for the nine months ended September 30, 2024 primarily due to interest on the Seller Note issued in conjunction with the Pintail acquisition. Interest expense includes interest on the Seller Note, facility fees on the unused portion of the credit facility and the amortization of loan costs. Interest income decreased to $6.8 million compared to $9.8 million in the prior year primarily due to a lower average cash balance, primarily due to the acquisition of Pintail on April 1, 2025.

*Income tax provision.* Income tax provision was $21.3 million during the nine months ended September 30, 2025 compared to $20.1 million for the same period in the prior year. The effective tax rate was 37.7% for the nine months ended September 30, 2025 compared to a 20.3% effective tax rate for the same period in the prior year. The effective tax rate was unusually high primarily due to the non-deductible portion of Acquisition related employment costs and provision to tax return adjustments.

*Net income, net income margin and diluted earnings per share*. Net income was $35.1 million during the nine months ended September 30, 2025, or $0.16 diluted earnings per share, compared to net income of $78.7 million during the nine months ended September 30, 2024, or $0.37 diluted earnings per share. Net income margin was 2.9% for the nine months ended September 30, 2025, compared to 7.3% for the same period in the prior year.

*Adjusted EBITDA and Adjusted EBITDA margin.* Adjusted EBITDA was $186.8 million, and Adjusted EBITDA margin was 15.6% for the nine months ended September 30, 2025, compared to $186.9 million and 17.3% for the same period in the prior year.

*Cash provided by operating activities and Free cash flow.* Cash provided by operating activities was $139.5 million for the nine months ended September 30, 2025, compared to $255.2 million for the nine months ended September 30, 2024. The decrease in cash provided by operating activities is due primarily to unfavorable changes in working capital, coupled with lower net income. Free cash flow decreased to $21.7 million for the nine months ended September 30, 2025, from $75.8 million for the nine months ended September 30, 2024, primarily due to a decrease in cash provided by operating activities, partially offset by lower capital expenditures.

**Non-GAAP Financial Measures**

*Reconciliation of GAAP and non-GAAP Financial Measures*

Disclosed herein are non-GAAP financial measures of EBITDA, Adjusted EBITDA, Adjusted EBITDA margin, and Free cash flow. These measures should not be considered in isolation or as a substitute for performance or liquidity measures prepared in accordance with GAAP.

A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statements of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented.

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**RPC, INC. AND SUBSIDIARIES**

Set forth below are reconciliations of these non-GAAP measures with their most directly comparable GAAP measures.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| (Unaudited) | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** | **Nine months ended**  | **Nine months ended**  | **Nine months ended**  | **Nine months ended**  |
|  | **September 30,**  | **September 30,**  |  | September 30,  | September 30,  | **September 30,**  | **September 30,**  | September 30,  | September 30,  |
| *(In thousands)* | **2025** | **2025** | **0** | 2024 | 2024 | **2025** | **2025** | 2024 | 2024 |
| **Reconciliation of Net Income to EBITDA and Adjusted EBITDA** |  |  |  |  |  |  |  |  |  |
| Net income | **$** | **12963** |  | $| 18796 | **$** | **35141** | $| 78682 |
| Adjustments: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Add: Income tax provision |  | **9604** |  |  | 4675 |  | **21260** |  | 20080 |
| &nbsp;&nbsp;Add: Interest expense |  | **949** |  |  | 261 |  | **2087** |  | 594 |
| &nbsp;&nbsp;Add: Depreciation and amortization |  | **44098** |  |  | 35034 |  | **122068** |  | 97371 |
| &nbsp;&nbsp;Less: Interest income |  | **1748** |  |  | 3523 |  | **6761** |  | 9831 |
| EBITDA | **$** | **65866** |  | $ | 55243 | **$** | **173795** | $ | 186896 |
| &nbsp;&nbsp;Add: Acquisition related employment costs |  | **6467** |  |  |  |  | **13021** |  |  |
| Adjusted EBITDA | **$** | **72333** |  | $| 55243 | **$** | **186816** | $ | 186896 |
| Revenues | **$** | **447103** |  | $ | 337652 | **$** | **1200789** | $ | 1079638 |
| Net income margin<sup>(1)</sup> |  | **2.9%** |  |  | 5.6% |  | **2.9%** |  | 7.3% |
| Adjusted EBITDA margin<sup>(1)</sup> |  | **16.2%** |  |  | 16.4% |  | **15.6%** |  | 17.3% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Net income margin is calculated as net income divided by revenues. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by revenues.

---

| | | |
|:---|:---|:---|
| (Unaudited) | **Nine months ended September 30,** | **Nine months ended September 30,** |
| *(In thousands)* | **2025** | 2024 |
| **Reconciliation of Operating Cash Flow to Free Cash Flow** |  |  |
| Net cash provided by operating activities | $**139468** | $255215 |
| Capital expenditures | **(117780)** | (179460) |
| &nbsp;&nbsp;Free cash flow | $**21688** | $75755 |

---

#### Liquidity and Capital Resources
*Cash Flows*

The Company's cash and cash equivalents decreased $162.5 thousand to $163.5 million as of September 30, 2025, compared to cash and cash equivalents of $326.0 million as of December 31, 2024.

The following table sets forth the historical cash flows for the nine months ended September 30, 2025 and 2024:

---

| | | |
|:---|:---|:---|
|  | **Nine months ended** | **Nine months ended** |
|  | **2025** | 2024 |
| *(In thousands)* |  |  |
| Net cash provided by operating activities | $**139468** | $255215 |
| Net cash used for investing activities | **(267505)** | (165333) |
| Net cash used for financing activities | $**(34476)** | $(36304) |

---

Cash provided by operating activities for the nine months ended September 30, 2025, decreased by $115.7 million compared to the nine months ended September 30, 2024, primarily due to unfavorable changes in working capital, including a $52.8 million tax refund received in the prior year, coupled with a decrease in net income. Change in working capital was a use of cash of $43.7 million during the nine months ended September 30, 2025, compared to a source of cash of $77.1 million in the same period last year. The most significant working capital related cash flow during the nine months ended September 30, 2025, was a cash use of $45.4 million due to a decrease in unearned revenue resulting from the satisfaction of performance obligations associated with a customer cash

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**RPC, INC. AND SUBSIDIARIES**

prepayment we received in the fourth quarter of 2024. The changes in the other components of working capital were mainly due to the timing of payments and receipts.

Cash used for investing activities for the nine months ended September 30, 2025, increased by $102.2 million compared to the nine months ended September 30, 2024, primarily due to cash used to fund the acquisition of Pintail, partially offset by a decrease in capital expenditures primarily related to the timing of new equipment deliveries. Capital expenditures were $117.8 million for the nine months ended September 30, 2025, compared to $179.5 million for the nine months ended September 30, 2024. In the prior year period, the Company was purchasing components of a new Tier 4 dual fuel pressure pumping fleet.

Cash used for financing activities for the nine months ended September 30, 2025, decreased by $1.8 million compared to the nine months ended September 30, 2024, primarily due to a decrease in repurchases of the Company's common shares in the open market, partially offset by the repayment of debt assumed at acquisition.

*Financial Condition and Liquidity*

The Company's financial condition remains strong. We believe the liquidity provided by our existing cash and cash equivalents and our overall strong capitalization will provide sufficient liquidity to meet our requirements for at least the next twelve months. The Company's decisions about the amount of cash to be used for investing and financing activities are influenced by our capital position, and the expected amount of cash to be provided by operations. RPC does not expect to utilize our revolving credit facility to meet these liquidity requirements in the near term.

The majority of our cash and cash equivalents are held at multiple financial institutions, each of which holds funds in excess of amounts insured by the Federal Deposit Insurance Corporation ("FDIC"). These financial institutions are among the largest in the United States and we believe are a safe place to hold our deposits.

The Company currently has a $100.0 million revolving credit facility with customary terms and conditions, including restrictions on indebtedness, dividend payments, business combinations and other related items. The revolving credit facility includes a full and unconditional guarantee by the Company's 100% owned domestic subsidiaries whose assets equal substantially all the consolidated assets of the Company and its subsidiaries. Certain of the Company's minor subsidiaries are not guarantors. The Credit Agreement's maturity date is July 22, 2027, and the interest rate is based on Term Secured Overnight Financing Rate ("Term SOFR"). In addition, the terms of the agreement have a 1.00% per annum floor for Base Rate borrowings and permits the issuance of letters of credit in currencies other than U.S. dollars. As of September 30, 2025, RPC had no outstanding borrowings under the revolving credit facility, and letters of credit outstanding relating to self-insurance programs and contract bids totaled $15.8 million; therefore, a total of $84.2 million of the facility was available. The Company is currently in compliance with the credit facility financial covenants. For additional information with respect to RPC's facility, see the Note titled Notes Payable of the Consolidated Financial Statements.

The Company has a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission ("SEC") that expires on May 5, 2028, which permits it to offer common stock, preferred stock, warrants, rights, depositary shares, purchase contracts and units containing two or more of the foregoing, in one or more offerings in an aggregate amount of up to $300 million. The Form S-3 is intended to provide us the flexibility to conduct registered sales of our securities, subject to market conditions and our future capital needs.

*In the third quarter of 2025, RPC implemented the provisions of the One Big, Beautiful Bill Act ("OBBBA"), which resulted in a lower tax obligation due to the 100% bonus depreciation on capital expenditures placed in service after January 19th, 2025 and immediate expensing of all domestic research and development costs, that were previously amortized over five years. Implementation of the OBBBA provisions did not have an impact on our effective rate or the Income tax provision in our Consolidated Statements of Operations for the three and nine months ended September 30, 2025.*

*The Company finalized the working capital adjustment related to the Pintail acquisition with the Seller and recorded a receivable of $12.3 million as of September 30, 2025. This receivable was collected in full subsequent to quarter end.*

*Cash Requirements*

**The Company currently expects capital expenditures, inclusive of recently acquired Pintail, to be between $170 million and $190 million in 2025, mostly related to maintenance. This is inclusive of opportunistic asset purchases and technology spend associated with our ERP implementation. As of September 30, 2025, $117.8 million has been spent. The Company is allocating capital to** 

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**RPC, INC. AND SUBSIDIARIES**

#### maintain its pressure pumping fleet and continues to evaluate future investments and options to further upgrade our equipment across the business.
**The Company has ongoing sales and use tax audits in various jurisdictions subject to varying interpretations of statutes. The Company has recorded the exposure from these audits to the extent issues are resolved or are probable and reasonably estimable. These audits involve issues that could result in unfavorable outcomes that cannot be currently estimated. See Note of the Consolidated Financial Statements titled Commitments and Contingencies for additional information.**

**The Company has a stock buyback program to repurchase up to 49,578,125 shares in the open market. As of September 30, 2025, 12,768,870 shares remained available to be repurchased. During both the three and nine months ended September 30, 2025, and the three and nine months ended September 30, 2024, there were no shares repurchased by the Company in the open market. The Company may repurchase outstanding common shares periodically based on market conditions and our capital allocation strategies considering restrictions under our credit facility. The stock buyback program does not have a predetermined expiration date. For additional information with respect to RPC's stock buyback program, see Note of the Consolidated Financial Statements titled Cash Paid for Common Stock Purchased and Retired.**

**In the fourth quarter of 2024, the Board of Directors approved the termination of the SERP. Pursuant to the Internal Revenue Service rules, participant balances are required to be distributed between 12 and 24 months after termination. The Company currently plans to distribute the balances in the fourth quarter of 2025 by liquidating assets currently held in the Rabbi Trust. We expect to receive a net cash distribution of approximately $8 million, subject to market changes, and to incur a one-time increase in our effective tax rate. Both the assets and liabilities related to the SERP are now reflected as part of current assets and current liabilities.** 

During 2024, the Company entered into a multi-year systems transformation program to upgrade our ERP and supply chain systems. We are currently in the early phases and expensed the majority of non-recurring costs incurred in 2024 and the first quarter of 2025. During 2025 the Company began capitalizing some costs associated with ERP implementation. We plan to continue the ERP implementation through a phased approach with costs being incurred over the next few years.

**During the second quarter of 2025, the Company began making interest payments on the Seller Note and will continue making such payments in accordance with the terms of the Seller Note. In addition, per the terms of the Seller Note, the first principal payment of $20 million is payable within the next 12 months. The remainder of $30 million in principal is payable over two years after the first repayment, per the terms of the agreement.**

**On October 28, 2025, the Board of Directors declared a regular quarterly cash dividend of $0.04 per share payable September 10, 2025, to common stockholders of record at the close of business on November 10, 2025. The Company expects to continue to pay cash dividends to common stockholders, subject to industry conditions and RPC's earnings, financial condition, and other relevant factors.**

#### INFLATION
**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company purchases its equipment and materials from suppliers who provide competitive prices and employ skilled workers from competitive labor markets. If inflation in the general economy increases, the Company's costs for equipment, materials and labor could increase as well. In addition, increases in activity in the domestic oilfield can cause upward wage pressures in the labor markets from which it hires employees, especially if employment in the general economy increases. Also, activity increases can cause supply disruptions and higher costs of certain materials and key equipment components used to provide services to the Company's customers. Though the ultimate impact is uncertain, the Company does currently expect tariffs on goods imported into the U.S. to result in materially higher costs of equipment.**

OUTLOOK

The current and projected prices of oil, natural gas and natural gas liquids are important catalysts for U.S. domestic drilling activity and can be impacted by economic and policy developments as well as geopolitical disruptions. RPC believes that oil prices currently remain at levels sufficient to continue drilling and completion activities, however the recent decline of oil prices and potential further volatility could result in the Company's customers opting to delay completion activity. Long-term, projected higher demand for oil and natural gas should drive increased activity in most of the basins in which RPC operates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We continue to monitor the supply and demand for our services and the competitive environment, including trends such as increasing customer preferences for more efficient equipment. Increased efficiencies in recent years of oilfield completion services

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**RPC, INC. AND SUBSIDIARIES**

and equipment, particularly in pressure pumping, has inherently contributed to oversupply in the Oilfield Services (OFS) market. We believe that competition will remain intense.

#### OFF BALANCE SHEET ARRANGEMENTS
The Company does not have any material off balance sheet arrangements.

#### RELATED PARTY TRANSACTIONS
*Marine Products Corporation (Marine Products)*

*In conjunction with RPC's spin-off of its powerboat manufacturing business, RPC and Marine Products entered into various agreements that define the companies' relationship. Per the terms of their Transition Support Services agreement, which may be terminated by either party, RPC provides certain administrative services, including financial reporting and income tax administration, acquisition assistance, etc., to Marine Products. Charges from the Company (or from corporations that are subsidiaries of the Company) for such services were $821 thousand for the nine months ended September 30, 2025, and $858 thousand for the comparable period in 2024. All of the Company's directors are also directors of Marine Products, and the executive officers are employees of both the Company and Marine Products.*

*Other*

The Company periodically purchases, in the ordinary course of business, products or services from suppliers that are owned by officers or significant stockholders of or affiliated with certain directors of RPC. The total amounts paid to these affiliated parties were $46 thousand for the nine months ended September 30, 2025, and $1.3 million for the nine months ended September 30, 2024.

A group that includes Amy R. Kreisler and Timothy C. Rollins, each of whom is a director of the Company, certain of their family members, and certain companies under their and/or their family members' control, controls in excess of fifty percent of the Company's voting power.

RPC and Marine Products own 50% each of a limited liability company called 255 RC, LLC that was created for the joint purchase and ownership of a corporate aircraft. RPC recorded certain net operating costs comprised of rent and an allocable share of fixed costs of $138 thousand for the nine months ended September 30, 2025 compared to $153 thousand for the comparable period in 2024.

Pursuant to the registration rights agreement between us and our largest stockholder, LOR, Inc. ("LOR") and certain of its affiliates (collectively, the Selling Stockholders) and their permitted transferees, we have filed a shelf registration statement on Form S-3 with the SEC that expires on May 5, 2028. The Form S-3 shelf registration statement registers for the resale of up to 127,235,202 shares of our common stock, which represents a majority of the Company securities held by the Selling Stockholders. In addition, they have the right to require, subject to certain conditions and limitations, certain piggy back registration rights with respect to registrations initiated by us.

CRITICAL ACCOUNTING POLICIES

The discussion of Critical Accounting Policies is incorporated herein by reference from the Company's annual report on Form 10-K for the fiscal year ended December 31, 2024. There have been no significant changes in the critical accounting policies since year-end.

#### IMPACT OF RECENT ACCOUNTING STANDARDS
See Note to the Consolidated Financial Statements titled Recent Accounting Standards for a description of recent accounting standards, including the expected dates of adoption and estimated effects on results of operations and financial condition.

#### SEASONALITY
Oil and natural gas prices affect demand throughout the oil and natural gas industry, including the demand for the Company's products and services. The Company's business depends in large part on the economic conditions of the oil and gas industry, and specifically on the capital expenditures of its customers related to the exploration and production of oil and natural gas. There is a

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**RPC, INC. AND SUBSIDIARIES**

positive correlation between these expenditures and customers' demand for the Company's services. As such, when these expenditures fluctuate, customers' demand for the Company's services fluctuates as well. These fluctuations depend on the current and projected prices of oil and natural gas and resulting drilling activity and are not seasonal to any material degree.

FORWARD-LOOKING STATEMENTS

Certain statements made in this report that are not historical facts are "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. The words "may," "will," "expect," "believe," "anticipate," "project," "estimate," "focus," "plan," and similar expressions generally identify forward-looking statements. Such forward-looking statements may include, without limitation, statements that relate to our business strategy, plans and objectives, and our beliefs and expectations regarding future demand for our equipment and services, trends in the industry, and other events and conditions that may influence the oilfield services market and our performance in the future. Forward-looking statements made elsewhere in this report include, without limitation, statements regarding: our belief that the operating results for the three and nine months ended September 30, 2025, are not necessarily indicative of the results to be expected for the year ending December 31, 2025; our assessment we may further revise the Pintail acquisition consideration allocation during the remainder of the measurement period; our expectation that adjustments related to property, plant and equipment being finalized in connection with the Pintail preliminary acquisition consideration may be material; our belief that we expect to achieve synergies from the combined operations of the Company and Pintail and the assembled workforce; our contention that the acquisition of Pintail is building on our diversified oilfield services platform; our expectation that the Company will distribute the balances of the SERP in the fourth quarter of 2025 by liquidating all the assets currently held in the Rabbi Trust; our belief that the likelihood of a material loss related to the outstanding state tax assessment is remote, and the Company currently does not believe the resolution of this claim will have a material impact on its consolidated financial position, results of operations or cash flows; statements that repurchases of the Company's stock may be made from time to time in the open market by block purchases, in privately negotiated transactions or in such other manner as determined by the Company; the effect of geopolitical factors such as political instability in the petroleum-producing regions of the world, the actions of the OPEC oil cartel, overall economic conditions and weather in the United States, the prices of oil and natural gas, other shifting trends in our industry, and our customers' drilling and production activities on our financial results; our belief that the pressure pumping market remains highly competitive; our belief that the industry continues to be over-supplied and efficiency gains are consistently adding pump hour capacity to the industry, and these challenges as well as a declining rig count, have resulted in activity, asset utilization, and pricing trending lower; our belief that international revenues will continue to be less than ten percent of our consolidated revenues in the foreseeable future; our belief that our financial condition remains strong; our belief that the liquidity provided by our existing cash and cash equivalents and our overall strong capitalization will provide sufficient liquidity to meet our requirements for at least the next twelve months; our expectation that we will not need our revolving credit facility to meet our liquidity requirements; our belief that our existing depository financial institutions are a safe place to hold our deposits; our expectation that capital expenditures will be between $170 million and $190 million during 2025 and our expectation that such expenditures will be mostly related to maintenance; our plan to continue to evaluate future investments and options to further upgrade our equipment across the business; our inability to estimate the outcomes of sales and use tax audits in various jurisdictions; our plan to continue the ERP implementation through a phased approach with costs being incurred over the next few years; our expectation to continue to pay cash dividends to common stockholders, subject to industry conditions and our earnings, financial condition, and other relevant factors; our belief that if inflation in the general economy increases, our costs for equipment, materials and labor could increase as well; our belief that increases in activity in the domestic oilfield can cause upward pressures in the labor markets from which it hires employees, especially if employment in the general economy increases; our belief that activity increases can cause supply disruptions and higher costs of certain materials and key equipment components used to provide our services to our customers; our expectation that tariffs on goods imported into the U.S. will increase equipment prices; our belief that current and projected prices of oil, natural gas and natural gas liquids are important catalysts for U.S. domestic drilling activity and can be impacted by economic and policy developments as well as geopolitical disruptions; our belief that oil prices currently remain at levels sufficient to continue drilling and completion activities, however, the recent decline of oil prices and potential further volatility could result in our customers opting to delay completion activity; our belief that long-term, projected steady higher demand for oil and natural gas should drive increased activity in most of the basins in which we operate; our belief that increased efficiencies in recent years of oilfield completion services and equipment, particularly in pressure pumping, has inherently contributed to oversupply in the Oilfield Services (OFS) market; our belief that competition will remain intense; our plan to continue to monitor the supply and demand for our services and the competitive environment, including trends such as increasing customer preferences for more efficient equipment; our expectation that changes in the foreign exchange rate will not have a material effect on our consolidated results of operations or financial conditions; and our belief that the outcome of litigation will not have a material adverse effect on our financial position or results of operations.

Such forward-looking statements are based on certain assumptions and analyses made by our management in light of its experience and its perception of historical trends, current conditions, expected future developments and other factors it believes to be appropriate. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results,

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performance or achievements of RPC to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Risk factors that could cause such future events not to occur as expected include the following: the volatility of oil and natural gas prices; our concentration of customers in the energy industry and periodic downturns; our business depends on capital spending by our customers, many of whom rely on outside financing to fund their operations; dependence on our key personnel; our ability to identify or complete acquisitions; our ability to attract and retain skilled workers; some of our equipment and several types of materials used in providing our services are available from a limited number of suppliers; whether outside financing is available or favorable to us; increasing expectations from customers, investors and other stakeholders regarding our environmental, social and governance practices; our compliance with regulations and environmental laws; possible declines in the price of oil and natural gas, which tend to result in a decrease in drilling activity and therefore a decline in the demand for our services; the ultimate impact of current and potential political unrest and armed conflict in the oil producing regions of the world, including the current conflict involving Israel and the Gaza Strip, which could impact drilling activity; adverse weather conditions in oil or gas producing regions, including the Gulf of America; competition in the oil and gas industry, especially in pressure pumping, and adverse impacts from the industry being over-supplied; limits to the Company's ability to implement price increases; the potential impact of possible future regulations on hydraulic fracturing on our business; risks of international operations; reliance on large customers; our operations rely on digital systems and processes that are subject to cyber-attacks or other threats; and our cash and cash equivalents are held primarily at a single financial institution, the potential for tariffs to increase our costs of materials and reduce our profitability, and capital expenditures are determined based on current expectations for our business, as a result, the occurrence of any of the foregoing or changes in our business model or expectations may cause us to materially increase or decrease our capital spending plans. Additional discussion of factors that could cause actual results to differ from management's projections, forecasts, estimates and expectations is contained in the Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

#### ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
The Company is subject to interest rate risk exposure through borrowings on its credit facility and the Pintail Seller Note. As of September 30, 2025, there were no outstanding interest-bearing advances on our credit facility, which provides for interest at a floating rate.

Additionally, the Company is exposed to market risk resulting from changes in foreign exchange rates. However, since the majority of the Company's transactions occur in U.S. currency, this risk is not expected to have a material effect on its consolidated results of operations or financial condition.

#### ITEM 4. CONTROLS AND PROCEDURES
*Evaluation of disclosure controls and procedures –* The Company maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in its Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms, and that such information is accumulated and communicated to its management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

As of the end of the period covered by this report, September 30, 2025 ("the Evaluation Date"), the Company carried out an evaluation, under the supervision and with the participation of its management, including the Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of its disclosure controls and procedures. Based upon this evaluation, which excluded the impact of the acquisition of Pintail, discussed below, the Chief Executive Officer and the Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective at a reasonable assurance level as of the Evaluation Date.

As discussed in the Note titled "Acquisition" of the Notes to Consolidated Financial Statements in Part I – Item 1. "Financial Statements" of this Form 10-Q for the quarter ended September 30, 2025, we completed the acquisition of Pintail during the second quarter. As part of our post-closing integration activities, we have been engaged in the process of assessing the internal controls of Pintail and are continuing to integrate policies, processes, people, technology, and operations for the post-acquisition combined company. As permitted for newly acquired businesses by interpretive guidance issued by the staff of the SEC, management has excluded the internal control over financial reporting of Pintail from the evaluation of the effectiveness of our disclosure controls and procedures as of September 30, 2025. We have reported the operating results of Pintail in our Consolidated Statements of Operations and Statements of Cash Flows from the acquisition date through September 30, 2025. As of September 30, 2025, total assets related to Pintail represented approximately 17% of our total assets, recorded on a preliminary basis as the measurement period for the business

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combination remained open as of September 30, 2025. Revenues from Pintail represented approximately 22% of our total consolidated revenues for the three months ended September 30, 2025.

*Changes in internal control over financial reporting –*The Company has successfully completed the mapping of Pintail's accounts to our existing financial reporting systems. The Company is continuing to review key controls and has implemented controls related to all Pintail financial statement line items and consolidation in order to enable the accurate preparation and timely reporting of their results.

Other than the changes to Pintail controls noted above, there were no changes in the Company's internal control over financial reporting during the third quarter of 2025 which were identified in connection with management's evaluation required by paragraph (d) of Rules 13a-15 and 15d-15 under the Exchange Act, that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

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PART II. OTHER INFORMATION

#### ITEM 1. LEGAL PROCEEDINGS
RPC is involved in litigation from time to time in the ordinary course of its business. RPC does not believe that the outcome of such litigation will have a material adverse effect on the financial position or results of operations of RPC.

#### ITEM 1A. RISK FACTORS
There have been no material changes from the risk factors previously disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and the Quarterly report on Form 10-Q for the quarterly period ended June 30, 2025.

#### ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES, USE OF PROCEEDS AND ISSUER PURCHASES OF EQUITY SECURITIES
None.

#### ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.

#### ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.

ITEM 5. OTHER INFORMATION

During the three months ended September 30, 2025, no director or officer, as defined in Rule 16a-1(f) under the Securities Exchange Act of 1934, as amended, 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.

On June 10, 2025, Plaintiffs Bruce Taylor and Matthew Stevens, ("Plaintiffs"), purported stockholders of Marine Products Corporation and RPC, Inc. (the "Companies"), filed a putative class action complaint ("Complaint") in the Court of Chancery of the State of Delaware ("Court") against the Companies and the members of our Board of Directors (collectively, the "Defendants") under the caption *Taylor v. Marine Products Corporation, et al.*, C.A. No. 2025-0654-NAC (the "Action"). Plaintiff alleged that certain provisions of the Companies' bylaws that provided for the shifting of attorneys' fees in specific circumstances violated Section 109(b) of the Delaware General Corporation Law. The Defendants believe that the allegations of the Complaint were meritless, deny those allegations, and deny that any violation of applicable law has occurred. However, solely to minimize expenses and distraction and to avoid the uncertainty of any litigation, on July 22, 2025, the Defendants amended the Companies' bylaws to, among other things, remove the challenged provisions (the "Bylaw Amendments").

On July 31, 2025, the parties entered into a proposed Stipulation and Order Dismissing the Action as Moot and Retaining Jurisdiction to Determine Plaintiff's Counsel's Application for an Award of Attorneys' Fees and Expenses (the "Stipulation and Proposed Order"), pursuant to which the Court would retain jurisdiction regarding any application Plaintiff might make for an award of attorneys' fees, which the Court entered. The Court retained jurisdiction to approve a form of notice concerning attorneys' fees payable to Plaintiff in connection with the Bylaw Amendments. Following negotiation among the parties, with the intent to avoid further litigation and legal costs, and not as an admission of any of the Plaintiff's claims, the Companies subsequently agreed to pay $50,000 each ($100,000 in the aggregate) in attorneys' fees and expenses in full satisfaction of any and all claims by Plaintiffs and all of their counsel for fees and expenses in the Action.

On October 16, 2025, the Court entered an order closing the Action, subject to the Companies filing an affidavit with the Court confirming that this notice has been issued. In entering the order, the Court was not asked to review, and did not pass judgment on, the payment of the attorneys' fees and expenses or their reasonableness. Plaintiffs' counsel are Kimberly A. Evans of Block & Leviton LLP, (302) 499-3600. Counsel to the Company and the Board of Directors is Brock E. Czeschin of Richards, Layton & Finger, P.A., (302) 651-7700.

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#### ITEM 6. EXHIBITS

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| | |
|:---|:---|
| **ExhibitNumber** | **Description** |
| 2.1<br>3.1(a) | [Membership Interest Purchase Agreement dated April 1, 2025 (portions of this Exhibit have been omitted) (incorporated herein by reference to Exhibit 2.1 to the Current Report on Form 8-K filed on April 7, 2025).](https://www.sec.gov/Archives/edgar/data/742278/000155837025004495/res-20250401xex2.htm)<br>[Restated certificate of incorporation of RPC, Inc. (incorporated herein by reference to Exhibit 3.1 to the Annual Report on Form 10-K for the fiscal year ended December 31, 1999).](https://www.sec.gov/Archives/edgar/data/742278/000091205700013457/0000912057-00-013457.txt) |
| 3.1(b) | [Certificate of amendment of the certificate of incorporation of RPC, Inc. (incorporated by reference to Exhibit 3.1(b) to Registrant's Quarterly Report on Form 10-Q filed on May 8, 2006).](https://www.sec.gov/Archives/edgar/data/742278/000118811206001344/ex3-1b.htm) |
| 3.1(c) | [Certificate of amendment of the certificate of incorporation of RPC, Inc. (incorporated by reference to Exhibit 3.1(c) to the Registrant's Quarterly Report on Form 10-Q filed on August 2, 2011).](https://www.sec.gov/Archives/edgar/data/742278/000118811211002084/ex3-1c.htm) |
| 3.2 | [Amended and Restated Bylaws of RPC, Inc. effective July 22, 2025](res-20250930xex3d2.htm). |
| 4 | [Form of Stock Certificate (incorporated herein by reference to Exhibit 4 to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 1998).](https://www.sec.gov/Archives/edgar/data/742278/0001047469-99-011283.txt) |
| 31.1 | [Section 302 certification for Chief Executive Officer.](res-20250930xex31d1.htm) |
| 31.2 | [Section 302 certification for Chief Financial Officer.](res-20250930xex31d2.htm) |
| 32.1 | [Section 906 certifications for Chief Executive Officer and Chief Financial Officer.](res-20250930xex32d1.htm) |
| 101.INS | Inline XBRL Instance Document |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document |
| 104<br>| Cover Page Interactive Data File (formatted as Inline XBRL and contained in exhibit 101) |

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#### 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.

---

| | |
|:---|:---|
|  | **RPC, INC.**<br>/s/ Ben M. Palmer |
| Date: October 30, 2025 | Ben M. Palmer |
|  | President and Chief Executive Officer |
|  | (Principal Executive Officer) |
|  | /s/ Michael L. Schmit |
| Date: October 30, 2025 | Michael L. Schmit |
|  | Vice President, Chief Financial Officer and Corporate Secretary |
|  | (Principal Financial and Accounting Officer) |

---

## Exhibit 3.2

AMENDED AND RESTATED BY-LAWS

OF

RPC, INC.

July 22, 2025

<u>OFFICES</u>

FIRST:The principal office of the corporation shall be located at 2801 Buford Highway NE, Suite 300, in the City of Atlanta, Georgia, and the registered agent shall be Corporation Service Company or such other agent as the corporation shall designate.

<u>CORPORATE</u> <u>SEAL</u>

SECOND:The corporate seal shall have inscribed thereon the name of the corporation, the year of its incorporation and the words "Incorporated Delaware."

<u>MEETINGS</u> <u>OF</u> <u>STOCKHOLDERS</u>

THIRD:The annual meeting of stockholders for the election of directors shall be held on such date and at such place and time as may be designated from time to time by resolution of the board of directors and included in the notice of such meeting, each year, at which meeting they shall elect by ballot, by plurality vote, a board of directors and may transact such other business as may come before the meeting.

Special meetings of the stockholders may be called at any time by the chairman and shall be called by the chairman or secretary on the request in writing or by vote of a majority of the directors or at the request in writing of stockholders of record owning a majority in amount of the capital stock outstanding and entitled to vote. Only such business shall be conducted at a special meeting of stockholders as shall have been brought before the meeting pursuant to the corporation's notice of the meeting.

All such meetings of the stockholders shall be held at such place or places within or without the State of Delaware, including by remote communication such as a "virtual only" meeting or "hybrid" meeting, as may from time to time be fixed by the board of directors or as shall be specified and fixed by the respective notices or waivers of notice thereof.

------

Each stockholder entitled to vote shall, at every meeting of the stockholders, be entitled to one vote in person or by proxy, signed by him or her, for each share of voting stock held by him or her, but no proxy shall be voted on after the meeting of stockholders for which such proxy was solicited and which has been adjourned sine die. Such right to vote shall be subject to the right of the board of directors to fix a record date for voting stockholders as hereinafter provided.

Notice of all meetings shall be given by the secretary to each stockholder of record entitled to vote not less than ten calendar days nor more than sixty calendar days before any annual or special meeting either personally, by mail or by other lawful means. If mailed, such notice shall be deemed to be given when deposited in the United States mail with postage thereon prepaid, addressed to the stockholder at such person's address as it appears on the stock transfer books of the corporation.

The holders of a majority of the stock outstanding and entitled to vote shall constitute a quorum, but the holders of a smaller amount may adjourn from time to time without further notice until a quorum is secured.

<u>DIRECTORS</u>

FOURTH: The property and business of this corporation shall be managed by or under the direction of the board of directors. The board of directors shall consist of between six and twelve directors, with the exact number of directors to be fixed from time to time solely by the board of directors pursuant to a resolution adopted by a majority of the board of directors then in office. At each annual meeting of stockholders, all directors will be elected for a one-year term expiring at the next annual meeting of stockholders. Each director shall hold office for the remainder of the term for which he is elected or appointed and until his successor shall be elected and qualified, or until his death or until he shall resign.

Newly created directorships resulting from any increase in the authorized number of directors and any vacancies on the Board resulting from death, resignation, disqualification,

------

removal or other cause may be filled by the affirmative vote of a majority of the remaining directors then in office, even if less than a quorum of the Board, or by a sole remaining director. Any director elected in accordance with the preceding sentence will hold office for the remainder of the full term of the vacant or newly created directorship and until such director's successor is elected and qualified. No decrease in the authorized number of directors will shorten the term of any incumbent director.

Except as may otherwise be required by Delaware law, any director or the entire board may be removed, with or without cause, by the holders of a majority of the shares then entitled to vote at an election of directors.

<u>POWERS</u> <u>OF</u> <u>DIRECTORS</u>

FIFTH:The board of directors shall have, in addition to such powers as are hereinafter expressly conferred on it, all such powers as may be exercised by the corporation, subject to the provisions of the statute, the certificate of incorporation and the by-laws.

The board of directors shall have power:

To purchase or otherwise acquire property, rights or privileges for the corporation, which the corporation has power to take, at such prices and on such terms as the board of directors may deem proper.

To pay for such property, rights or privileges in whole or in part with money, stock, bonds, debentures or other securities of the corporation, or by the delivery of other property to the corporation.

To create, make and issue mortgages, bonds, deeds of trust, trust agreements and negotiable or transferable instruments and securities, secured by mortgages or otherwise, and to do every other act and thing necessary to effectuate the same.

To appoint agents, clerks, assistants, factors, employees and trustees, and to dismiss them at its discretion, to fix their duties and emoluments and to change them from time to time and to require security as it may deem proper. Any employee appointed by the board may be given such designation or title as the board shall determine; however, any such designation or title given any

------

such employee shall not be deemed to constitute such employee a corporate officer under ARTICLE EIGHTH of these by-laws.

To confer on any officer of the corporation the power of selecting, discharging or suspending such employees.

To determine by whom and in what manner the corporation's bills, notes, receipts, acceptances, endorsements, checks, releases, contracts or other documents shall be signed.

<u>MEETINGS</u> <u>OF</u> <u>DIRECTORS</u>

SIXTH:After such annual election of directors, the newly elected directors may meet for the purpose of organization, the election of officers and the transaction of other business, at such place and time as the directors may determine, and, if a majority of the directors be present at such place and time, no prior notice of such meeting shall be required to be given to the directors. The place and time of such meeting may also be fixed by written consent of the directors.

Regular meetings of the directors shall be held at such place or places, if any, on such date or dates, and at such time or times as shall have been established by the board of directors and publicized among all directors. A notice of each regular meeting shall not be required.

Special meetings of the directors may be called by the chairman, vice chairman or president or upon the request of any two directors. Two business days' notice of any special meeting of directors shall be given in writing if such notice is delivered by first class or overnight mail or one business days' notice if such notice is given orally or delivered by facsimile transmission or other form of electronic transmission reasonable under the circumstance or hand delivery.

Special meetings of the directors may be held within or without the State of Delaware at such places as is indicated in the notice or waiver of notice thereof.

A majority of the directors shall constitute a quorum, but a smaller number may adjourn from time to time, without further notice, until a quorum is secured.

------

The board may, by resolution passed by a majority of the whole board, designate one or more committees, each committee to consist of one or more directors of the corporation.

Any such committee to the extent provided in the directors' resolution or in these by-laws, shall have and may exercise all the powers and authority of the board in managing the affairs and business of the corporation and may authorize affixation of the corporate seal to all papers that require it, to the fullest extent permitted by law as presently allowed under Section 141 of the Delaware General Corporation Law (the "DGCL") and as may be allowed in the future pursuant to amendments and revisions of applicable law; provided, however, that a committee may not have the power and authority to declare a dividend or to authorize the issuance of stock.

<u>COMPENSATION</u> <u>OF</u> <u>DIRECTORS</u>

<u>AND</u> <u>MEMBERS</u> <u>OF</u> <u>COMMITTEES</u>

SEVENTH:Directors and members of standing committees shall receive such compensation for attendance at each regular or special meeting as the board shall from time to time prescribe.

<u>OFFICERS</u> <u>OF</u> <u>THE</u> <u>CORPORATION</u>

EIGHTH:The officers of the corporation shall be a president, a secretary, a treasurer and such other officers as may from time to time be chosen by the board of directors. The board of directors in its discretion may also appoint either or both of a chairman and a vice chairman, who may or may not be an officer of the corporation. If applicable, the chairman and vice chairman shall be chosen from among the directors.

One person may hold more than one office.

The officers of the corporation shall hold office until their successors are chosen and qualify in their stead. Any officer chosen or appointed by the board of directors may be removed either with or without cause at any time by the affirmative vote of a majority of the whole board of directors. If the office of any officer or officers becomes vacant for any reason, the vacancy may be filled by the affirmative vote of a majority of the whole board of directors or the board

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could eliminate the position, combine its duties with another position or fill it on an interim basis.

<u>DUTIES</u> <u>OF</u> <u>THE</u> <u>CHAIRMAN</u>

NINTH:It shall be the duty of the chairman, if any, to preside at all meetings of stockholders and directors.

<u>DUTIES</u> <u>OF</u> <u>THE</u> <u>VICE CHAIRMAN</u>

TENTH:The vice chairman, if any, shall perform such duties as shall be assigned by the chairman or the board of directors and shall be vested with all the powers and be required to perform all the duties of the chairman in the chairman's absence or disability.

<u>DUTIES</u> <u>OF</u> <u>THE</u> <u>PRESIDENT</u>

ELEVENTH:The president shall have the general supervision and direction of the other officers of the corporation and shall see that their duties are properly performed, or as designated by the Chairman or Vice Chairman.

<u>SECRETARY</u>

TWELFTH:The secretary shall attend all meetings of the board of directors, and all other meetings as directed by the board of directors. The secretary shall act as clerk thereof and shall record all of the proceedings of such meetings in a book kept for that purpose. The secretary shall give proper notice of meetings of stockholders and directors and shall perform such other duties as shall be assigned by the chairman, vice chairman or president of the corporation.

<u>TREASURER</u>

THIRTEENTH:The treasurer shall have custody of the funds and securities of the corporation and shall keep full and accurate accounts of receipts and disbursements in books belonging to the corporation and shall deposit all moneys and other valuable effects in the name and to the credit of the corporation in such depositories as may be designated by the board of directors.

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The treasurer shall keep an account of stock registered and transferred in such manner and subject to such regulations as the board of directors may prescribe.

The treasurer shall give the corporation a bond, if required by the board of directors, in such sum and in form and with security satisfactory to the board of directors for the faithful performance of the duties of the office and the restoration to the corporation, in case of the treasurer's death, resignation or removal from office, of all books, papers, vouchers, money and other property of whatever kind in his possession, belonging to the corporation. The treasurer shall perform such other duties as the board of directors may from time to time prescribe or require.

<u>DUTIES</u> <u>OF</u> <u>OFFICERS</u> <u>MAY</u> <u>BE</u> <u>DELEGATED</u>

FOURTEENTH:In case of the absence or disability of any officer of the corporation or for any other reason deemed sufficient by a majority of the board, the board of directors may delegate such officer's powers or duties to any other officer or to any director for the time being.

<u>CERTIFICATES</u> <u>OF</u> <u>STOCK</u>; <u>UNCERTIFICATED</u> <u>SHARES</u>

FIFTEENTH:Shares of stock in the corporation may be represented by certificates or may be issued in uncertificated form in accordance with the DGCL. The issuance of shares in uncertificated form shall not affect shares already represented by a certificate until the certificate is surrendered to the corporation. Each holder of stock in the corporation represented by a certificate shall be entitled to a certificate which shall be signed by two authorized officers of the corporation (it being understood that each of the chairman, the vice chairman, the president, the treasurer, an assistant treasurer, the secretary or an assistant secretary shall be an authorized officer for such purpose). If a certificate of stock be lost or destroyed, another may be issued by the corporation in its stead upon proof of such loss or destruction and the giving of a satisfactory bond of indemnity, in an amount sufficient to indemnify the corporation against any claim. A new certificate may be issued without requiring bond when, in the judgment of the corporation, it is proper to do so. Certificates may be signed by facsimile signature.

<u>TRANSFER</u> <u>OF</u> <u>STOCK</u>

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SIXTEENTH:Transfers of stock shall be made only upon the transfer books of the corporation kept at an office of the corporation or by a transfer agent designated to transfer shares of stock of the corporation. The certificate for the number of shares involved which are represented by a certificate shall be surrendered for cancellation before a new certificate is issued therefore.

The corporation shall have authority to appoint transfer agents and registrars by resolution of the board of directors.

<u>SETTING OF RECORD DATES</u>

SEVENTEENTH:In order that the corporation may determine the stockholders entitled to notice of any meeting of stockholders or any adjournment thereof, the board of directors may fix in advance a record date, which record date shall not precede the date upon which the resolutions fixing the record date are adopted by the board of directors, and which record date shall, unless otherwise required by law, not be more than sixty days or less than ten days preceding the date of any meeting of stockholders. If the board of directors so fixes a date, such date shall also be the record date for determining the stockholders entitled to vote at such meeting unless the board of directors determines, at the time it fixes such record date, that a later date on or before the date of the meeting shall be the date for making such determination. If no record date is fixed by the board of directors, the record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business on the day next preceding the day on which notice is given, or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; provided, however, that the board of directors may fix a new record date for determination of stockholders entitled to vote at the adjourned meeting, and in such case shall also fix as the record date for stockholders entitled to notice of such adjourned meeting the same or an earlier date as that fixed for determination of stockholders entitled to vote in accordance herewith at the adjourned meeting.

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In order that the corporation may determine the stockholders entitled to receive payment of any dividend or other distribution or allotment of any rights, or entitled to exercise any rights in respect of any change, conversion or exchange of stock or for the purpose of any other lawful action, the board of directors may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted, and which record date shall not be more than sixty days prior to such action. If no such record date is fixed, the record date for determining stockholders for any such purpose shall be at the close of business on the day on which the board of directors adopts the resolution relating thereto.

<u>STOCKHOLDERS</u> <u>OF</u> <u>RECORD</u>

EIGHTEENTH:The corporation shall be entitled to treat the holder of record of any share or shares of stock as the holder in fact thereof and accordingly shall not be bound to recognize any equitable or other claim to or interest in such share on the part of any other person whether or not it shall have express or other notice thereof, save as expressly provided by the laws of Delaware.

<u>FISCAL</u> <u>YEAR</u>

NINETEENTH:The fiscal year of the corporation shall begin on the first day of January in each year.

<u>DIVIDENDS</u>

TWENTIETH:Dividends upon the capital stock may be declared by the board of directors at any regular or special meeting and may be paid in cash or in property or in shares of the capital stock. Before paying any dividend or making any distribution of profits, the directors may set apart out of any of the funds of the corporation available for dividends a reserve or reserves for any proper purpose and may alter or abolish any such reserve or reserves.

<u>CHECKS</u> <u>FOR</u> <u>MONEY</u>

TWENTY-FIRST:All checks, drafts or orders for the payment of money shall be signed by the treasurer or by such other officer or officers as the board of directors may from

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time to time designate. No check shall be signed in blank. The board of directors also from time to time may authorize specified employees to sign checks on the corporation's accounts.

<u>BOOKS</u> <u>AND</u> <u>RECORDS</u>

TWENTY-SECOND:The books, accounts and records of the corporation except as otherwise required by the laws of the State of Delaware, may be kept within or without the State of Delaware, at such place or places as may from time to time be designated by the by-laws or by resolution of the Directors.

<u>WAIVER OF NOTICES</u>

TWENTY-THIRD:Any stockholder or director may waive any notice, required to be given under these by-laws whether before or after the time stated therein.

<u>INDEMNIFICATION OF DIRECTORS,</u>

<u>OFFICERS AND EMPLOYEES</u>

TWENTY-FOURTH:The corporation shall indemnify and hold harmless, in the manner and to the fullest extent now or hereafter permitted by the DGCL, any person (or the estate of any person) who was or is a party to, or is involved in or threatened to be made a party to, any threatened, pending or completed action, suit or proceeding, whether or not by or in the right of the corporation and whether civil, criminal, administrative, investigative or otherwise, by reason of the fact that such person is or was a director, officer or general counsel of the corporation, or is or was serving at the request of the corporation as a director, officer, or general counsel of another corporation, partnership, limited liability company, joint venture, trust or other enterprise, including service with respect to employee benefit plans. The indemnification provided herein shall be made if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interest of the corporation, and, with respect to any criminal action or proceeding, has no reasonable cause to believe his or her conduct was unlawful; provided, however, that, except as provided in the following paragraph, the corporation shall indemnify any such person seeking indemnification in connection with a proceeding initiated by such person only if such proceeding was authorized by the board of directors. To the full extent permitted by law, the indemnification provided herein shall include all expense, liability and loss (including attorneys' fees, judgments, fines and amounts paid or to be paid in settlement) reasonably incurred or suffered by such person. The corporation shall pay

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the expenses (including attorneys' fees) incurred in defending any such proceeding in advance of its final disposition upon the receipt by the corporation of a statement or statements from the claimant requesting such advance and an undertaking by or on behalf of such claimant that the claimant will repay all amounts so advanced if it shall ultimately be determined that such director or officer is not entitled to be indemnified under this ARTICLE TWENTY-FOURTH or otherwise. The indemnification and advancement of expenses provided herein (a) shall not be deemed to limit the right of the corporation to indemnify any other employee or agent and advance any such expenses to the full extent provided by the law, nor shall it be deemed exclusive of any other rights to which any person seeking indemnification and advancement of expenses from the corporation may be entitled under any agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person's official capacity and as to action in another capacity while holding such office, (b) is intended to be retroactive and shall be available with respect to events occurring prior to adoption of this ARTICLE TWENTY-FOURTH, and (c) shall continue as to an indemnitee who has ceased to be a director or officer and shall inure to the benefit of the indemnitee's heirs, executors and administrators. The corporation may, to the full extent permitted by law, purchase and maintain insurance on behalf of any such person against any liability which may be asserted against such person.

If a claim under this of this ARTICLE TWENTY-FOURTH is not paid in full within 30 calendar days after a written claim has been received by the corporation, the claimant may at any time thereafter bring suit against the corporation to recover the unpaid amount of the claim and, if successful in whole or in part, the claimant shall be entitled to be paid the reasonable expense of prosecuting the claim. It shall be a defense to any such action to enforce a right to indemnification (but not to an action to enforce a right to an advancement of expenses) that the claimant has not met the standard of conduct which makes it permissible under the DGCL to indemnify the claimant for the amount claimed, but the burden of proving such defense shall be on the corporation.

No repeal or modification of this ARTICLE TWENTY-FOURTH shall in any way diminish or adversely affect the rights of any person in respect of any occurrence or matter arising prior to any such repeal or modification. If any provision of this ARTICLE TWENTY-FOURTH shall be held to be invalid, illegal or unenforceable for any reason whatsoever, the

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validity, legality and enforceability of the remaining provisions of this ARTICLE TWENTY-FOURTH shall not in any way be affected or impaired thereby.

The corporation shall not be liable to indemnify any indemnitee under this ARTICLE TWENTY-FOURTH for any amounts paid in settlement of any proceeding (or part thereof) effected without the corporation's written consent, which consent shall not be unreasonably withheld, or for any judicial award if the corporation was not given a reasonable and timely opportunity, at its expense, to participate in the defense of such proceeding. The board of directors may establish reasonable procedures for the submission of claims for indemnification pursuant to this ARTICLE TWENTY-FOURTH, determination of the entitlement of any person thereto, and review of any such determination.

<u>NON-DISCRIMINATION</u> <u>STATEMENT</u>

TWENTY-FIFTH:Consistent with the corporation's equal employment opportunity policy, nominations for the elections of directors shall be made by the board of directors and voted upon by the stockholders in a manner consistent with these by-laws and without regard to the nominee's race, color, ethnicity, religion, sex, age, national origin, veteran status, or disability.

<u>NOTICE</u> <u>OF</u> <u>NOMINATION</u> <u>OF</u> <u>DIRECTORS</u>

TWENTY-SIXTH:Only persons who are nominated in accordance with the following procedures shall be eligible for election as directors of the corporation. Nominations of persons for election to the board of directors may be made at any annual meeting of stockholders, or at any special meeting of stockholders called for the purpose of electing directors, (a) by or at the direction of the board of directors (or any duly authorized committee thereof) or (b) by any stockholder of the corporation (i) who is a stockholder of record on the date of the giving of the notice provided for in this ARTICLE TWENTY-SIXTH and on the record date for the determination of stockholders entitled to vote at such meeting and (ii) who complies with the requirements and notice procedures set forth in this ARTICLE TWENTY-SIXTH. Shareholders will not be entitled to nominate any candidate for director at any annual or special meeting unless the shareholder shall have first provided notice in writing, delivered or mailed (by certified,

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registered or overnight mail and postage prepaid), to the secretary of the corporation at the corporation's principal executive offices so that it is received (a) not less than ninety, nor more than one hundred thirty days prior to the anniversary of the prior year's annual meeting of stockholders with respect to an annual meeting; provided, however, that in the event the annual meeting is scheduled to be held on a date more than 30 days prior to or delayed by more than 60 days after such anniversary date, notice by the stockholder in order to be timely must be so received not later than the later of the close of business 90 days prior to such annual meeting or the tenth day following the day on which such notice of the date of the annual meeting was mailed or such public disclosure of the date of the annual meeting was made and (b) in the case of a special meeting of stockholders called for the purpose of electing directors, not later than the close of business on the tenth day following the day on which notice of the date of the special meeting was mailed or public disclosure of the date of the special meeting was made, whichever first occurs (and in no event shall the public announcement of an adjournment of the meeting commence a new time period for a giving of a stockholder's notice under this ARTICLE).

Each such notice shall set forth, (a) with respect to each stockholder nominee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i) the name, age, business address and, if known, residence address of each nominee proposed in such notice,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the principal occupation or employment of each such nominee for the past five years,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the class or series and number of shares of capital stock of the corporation which are owned beneficially or of record, directly or indirectly, by the person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) as an appendix, a completed and signed questionnaire, representation and agreement required by this ARTICLE TWENTY-SIXTH,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) such person's written consent to being named in the proxy statement as a nominee and to serving as a director if elected, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) any other information relating to the person that would be required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for election of directors pursuant to Section 14 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the rules and regulations promulgated thereunder;

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&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;(b) as to the stockholder giving the notice and any Stockholder Associated Person (as defined below):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the name and address of such stockholder, as it appears on the corporation's books, and of any such Stockholder Associated Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the class or series and number of shares of capital stock of the corporation which are owned beneficially or of record by such stockholder and any such Stockholder Associated Person, directly or indirectly, and the date such shares were acquired,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a description of all agreements, arrangements or understandings, direct or indirect, between or among such stockholder, any such Stockholder Associated Person, each proposed nominee or any other person or persons (including their names), pursuant to which the nomination(s) are to be made by such stockholder,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a description of any agreement, arrangement or understanding (including any derivative or short positions, profit interests, options, warrants, convertible securities, stock appreciation or similar rights, hedging transactions, and borrowed or loaned shares) that has been entered into as of the date of the stockholder's notice by, or on behalf of, such stockholder or any Stockholder Associated Person, whether or not such instrument or right shall be subject to settlement in underlying shares of capital stock, the effect or intent of which is to mitigate loss to, manage risk or benefit of share price changes for, or increase or decrease the voting power of, such stockholder or Stockholder Associated Person, with respect to the securities of the corporation (collectively, a "Derivative Instrument"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (v) a description of any rights to dividends on the stock of the corporation held of record or owned beneficially by the stockholder or any Stockholder Associated Person that are separated or separable from the underlying stock of the corporation,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) a description of any proportionate interest in stock of the corporation or Derivative Instruments held, directly or indirectly, by a general or limited partnership in which the stockholder or any Stockholder Associated Person is a general partner or, directly or indirectly, beneficially owns an interest in a general partner,

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&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;(vii) a description of any profit-sharing or any performance-related fees (other than an asset-based fee) that any stockholder giving notice or any Stockholder Associated Person is entitled to, based on any increase or decrease in the value of the stock of the corporation or Derivative Instruments thereof, if any,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) a description of any short interest in any security of the corporation of such stockholder or Stockholder Associated Person (for purposes of this provision a person shall be deemed to have a short interest in a security if such person directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has the opportunity to profit or share in any profit derived from any decrease in the value of the subject security),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) a description in reasonable detail of any proxy (including revocable proxies), contract, arrangement, understanding or other relationship pursuant to which the stockholder or any Stockholder Associated Person has a right to vote any shares of stock of the corporation,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) a representation that such stockholder is entitled to vote at the meeting and intends to appear in person or by proxy at the meeting to nominate the person named in its notice, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) any other information relating to such stockholder or nominee that would be required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for election of directors pursuant to Section 14 of the Exchange Act and the rules and regulations promulgated thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) a description of

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any agreement, arrangement or understanding with respect to the nomination between or among such stockholder and/or any Stockholder Associated Persons, and any other person, including the nominee, including any agreements, arrangements or understandings relating to any compensation or payments to be paid to any such proposed nominee(s), pertaining to the nomination(s) to be brought before the meeting of stockholders (which description shall identify the name of each other person who is party to such an agreement, arrangement or understanding), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any other material relationships, between or among the stockholder giving the notice, any Stockholder Associated Person or their respective associates (as defined in Rule 405 under the

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Securities Act of 1933, as amended), or others (including nominees of the stockholder delivering notice), including all information that would be required to be disclosed pursuant to Rule 404 promulgated under Regulation S-K if the stockholder giving notice, Stockholder Associated Person or any person were the "registrant" for purposes of such rule and the nominee of the stockholder giving notice were a director or executive of such registrant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) whether such stockholder or Stockholder Associated Person intends

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to deliver a proxy statement and form of proxy to holders of a sufficient number of holders of the corporation's voting shares to elect such nominee or nominees,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to otherwise solicit proxies from stockholders in support of such nominee or nominees and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) to comply with all applicable requirements of the Exchange Act with respect to the matters set forth herein; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) a representation that the stockholder giving notice and each director nominee shall provide all other information and affirmations, updates and supplements required pursuant to, and otherwise comply with, these by-laws by the applicable deadlines.

"Stockholder Associated Person" of any stockholder shall mean, with respect to any nominating stockholder or stockholder providing notice of Business (as defined below), as appliable, (i) any beneficial owner of stock of the corporation on whose behalf the nomination or proposal of Business is made and (ii) any person that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, such person or such beneficial owner. For purposes of this definition, the terms "controls," "controlled by" and "under common control with" mean the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract or otherwise.

The stockholder submitting a notice required in accordance with this ARTICLE TWENTY-SIXTH shall (a) provide any other information reasonably requested from time to time by the corporation to determine whether such proposed nominee is qualified to serve as a director and/or independent director of the corporation under the certificate of incorporation, these bylaws,

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the rules or regulations of any stock exchange applicable to the corporation, any law or regulation applicable to the corporation, and any director qualification standards contained in the corporation's Corporate Governance Principles or disclosed in its annual proxy statement for the election of directors, within five business days after each such request, (b) update and supplement promptly (and in any event no later than two business days prior to the commencement of the applicable meeting of stockholders) any information provided to the corporation in the notice required by this ARTICLE TWENTY-SIXTH, or at the corporation's request pursuant to the foregoing clause (a), if any such information ceases for any reason to be accurate or complete in any material respect and (c) affirm such information as accurate and complete as of two business days prior to the commencement of the applicable meeting of stockholders. Any such affirmation, update and/or supplement must be delivered or mailed (by certified, registered or overnight mail and postage prepaid) and received by the secretary of the corporation at the corporation's principal executive offices by the applicable deadline.

The chairman of the meeting (or, in advance of any meeting of stockholders, the board of directors) shall determine whether a nomination was made in accordance with the foregoing procedures and, if the proposed nomination was not made in compliance with the foregoing procedures, declare that such nomination shall be disregarded.

To be eligible to be a nominee for election as a director of the corporation, a person must deliver in accordance with the time periods prescribed for delivery of notice under this ARTICLE TWENTY-SIXTH to the secretary of the corporation a written questionnaire (in the form provided by the secretary upon written request), which includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) information, representations and agreements with respect to the background and qualification of such person and the background of any other person or entity on whose behalf the nomination is being made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a written representation and agreement that such proposed nominee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) is not and will not become a party to (A) any agreement, arrangement or understanding with, and has not given any commitment or assurance to, any person or entity as to how such person, if elected as a director of the corporation, will act or vote on any issue or question (a "Voting Commitment") that has not been disclosed to the corporation or (B) any Voting

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Commitment that could limit or interfere with such person's ability to comply, if elected as a director of the corporation, with such person's fiduciary duties under applicable law,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) is not and will not become a party to any agreement, arrangement or understanding with any person or entity other than the corporation with respect to any direct or indirect compensation, reimbursement or indemnification in connection with service or action as a director that has not been disclosed therein,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) in such person's individual capacity, would be in compliance, if elected as a director of the corporation, and will comply, with all publicly disclosed corporate governance, conflict of interest, confidentiality, stock ownership and trading and other policies and guidelines of the corporation that are applicable to directors, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) currently intends to serve as a director for the full term for which he or she is standing for election;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) such person's written consent to being named as a nominee for election as director; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) an agreement to provide supplemental information promptly (and in any event within five business days) if any of the information provided to the corporation in the questionnaire ceases to be accurate or complete in any material respect.

Notwithstanding the provisions of the by-laws, (i) (A) a stockholder shall also comply with all applicable requirements of the Exchange Act and the rules and regulations thereunder with respect to the matters set forth in these by-laws; provided, however that any references in these by-laws to the Exchange Act or the rules promulgated thereunder are not intended to and shall not limit the separate and additional requirements set forth in these by-laws with respect to nominations to be considered pursuant to ARTICLE TWENTY-SIXTH of these by-laws, and (B) if the stockholder solicits proxies with respect to director nominations, the stockholder must use a proxy card with a color other than white, which color is reserved for the corporation, and (ii) all stockholders who solicit proxies with respect to nominees for director shall comply with the requirements of Rule 14a-19 under the Exchange Act, and failure by a stockholder who solicits proxies for their own director nominees to comply with Rule 14a-19 will result in their nominees being ineligible for election to the Board.

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<u>STOCKHOLDER PROPOSALS FOR BUSINESS TO BE TRANSACTED AT MEETING</u>

TWENTY-SEVENTH: At any special meeting of the stockholders, such Business (as defined below) shall be conducted as shall have been brought before the meeting by or at the direction of the board of directors. No business may be transacted at an annual meeting of stockholders, other than Business that is either (a) specified in the notice of meeting (or any supplement thereto), given by or at the direction of the board of directors (or any duly authorized committee thereof), (b) otherwise properly brought before the annual meeting by or at the direction of the board of directors (or any duly authorized committee thereof) or (c) otherwise properly brought before the annual meeting by any stockholder of record of the corporation (i) who is a stockholder of record on the date of the giving of the notice provided for in this ARTICLE TWENTY-SEVENTH and on the record date for the determination of stockholders entitled to vote at such annual meeting, (ii) is entitled to vote at the meeting and (iii) who complies with the notice procedures set forth in this ARTICLE TWENTY-SEVENTH. With respect to this ARTICLE TWENTY-SEVENTH, "Business" shall mean all matters other than nominations of candidates for and the election of directors. Stockholder nomination of directors for election is governed solely by ARTICLE TWENTY- SIXTH of these by-laws.

In addition to any other applicable requirements (including, without limitation, SEC rules and regulations with respect to matters set forth in this ARTICLE TWENTY-SEVENTH), for Business to be properly brought before an annual meeting by a stockholder, (i) such stockholder must have given timely notice thereof in proper written form to the secretary of the corporation, (ii) such Business must be a proper matter for stockholder action under the DGCL, (iii) if the stockholder, or any Stockholder Associated Person, has provided the corporation with a Solicitation Notice (as defined herein), such stockholder or Stockholder Associated Person must, in the case of a proposal, have delivered a proxy statement and form of proxy to holders of at least the percentage of the corporation's voting shares required under applicable law to carry any such proposal, and must have included in such materials the Solicitation Notice, (iv) if no Solicitation Notice relating thereto has been timely provided pursuant to this ARTICLE TWENTY-SEVENTH, the stockholder or beneficial owner proposing such Business must not have solicited a number of proxies sufficient to have required the delivery of the Solicitation

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Notice under this section, and (v) if the stockholder solicits proxies with respect to a proposal, the stockholder must use a proxy card with a color other than white, which color is reserved for the corporation.

To be timely, a stockholder's notice to the secretary must be delivered to or mailed (by certified, registered or overnight mail and postage prepaid) and received by the secretary of the corporation at the principal executive offices of the corporation not less than 90 days nor more than 130 days prior to the date of the anniversary of the previous year's annual meeting; provided, however, that in the event the annual meeting is scheduled to be held on a date more than 30 days prior to or is delayed by more than 60 days after such anniversary date, notice by the stockholder in order to be timely must be so received not later than the later of the close of business 90 days prior to such annual meeting or the tenth day following the day on which such notice of the date of the annual meeting was mailed or such public announcement of the date of the annual meeting was first made by the corporation. In no event shall the public announcement of an adjournment of an annual meeting commence a new time period for a giving of a stockholder's notice under this ARTICLE TWENTY-SEVENTH.

To be in proper written form, a stockholder's notice to the secretary must set forth as to each matter of Business such stockholder proposes to bring before the annual meeting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a brief description of the Business desired to be brought before the annual meeting, the text of the proposal (including the text of any resolutions proposed for consideration and, if such business includes a proposal to amend the by-laws, the language of the proposed amendment) and the reasons for conducting such Business at the annual meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) as to the stockholder giving such notice and any Stockholder Associated person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the name and address of such stockholder, as it appears on the corporation's books, and of any such Stockholder Associated Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the class or series and number of shares of capital stock of the corporation which are owned beneficially or of record by such stockholder and any such Stockholder Associated Person, directly or indirectly, and the date such shares were acquired,

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&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;(iii) a description of all agreements, arrangements, or understandings, direct or indirect, with respect to such Business between or among the stockholder giving notice, any such Stockholder Associated Person or any other person or person (including their names), and any material interest of such stockholder or Stockholder Associated Person in such Business,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a description of any Derivative Instrument directly or indirectly owned beneficially by such stockholder or Stockholder Associated Person and any other direct or indirect opportunity to profit or share in any profit derived from any increase or decrease in the value of shares of the corporation owned by any of them,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a description of any rights to dividends on the stock of the corporation held of record or owned beneficially by such stockholder or Stockholder Associated Person that are separated or separable from the underlying shares of the corporation,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) a description of any proportionate interest in stock of the corporation or Derivative Instruments held, directly or indirectly, by a general or limited partnership in which such stockholder or Stockholder Associated Person is a general partner or, directly or indirectly, beneficially owns an interest in a general partner,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) a description of any profit-sharing or any performance-related fees (other than an asset-based fee) that any stockholder giving notice or any Stockholder Associated Person is entitled to, based on any increase or decrease in the value of the stock of the corporation or Derivative Instruments thereof, if any,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) a description of any short interest in any security of the corporation of such stockholder, beneficial owner or Stockholder Associated Person (for purposes of this provision a person shall be deemed to have a short interest in a security if such person directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has the opportunity to profit or share in any profit derived from any decrease in the value of the subject security),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) a description in reasonable detail of any proxy (including revocable proxies), contract, arrangement, understanding or other relationship pursuant to which the stockholder or any Stockholder Associated Person has a right to vote any shares of stock of the corporation,

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&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;(ix) a representation that such stockholder giving notice is entitled to vote at the meeting and intends to appear in person or by proxy at the meeting to propose such Business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) all other information that would be required to be filed with the SEC if the stockholder giving notice or Stockholder Associated Persons were participants in a solicitation subject to Section 14 of the Exchange Act and the rules and regulations promulgated thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;(c) the names and addresses of other stockholders and beneficial owners known by the stockholder or beneficial owner proposing such Business to financially support the proposal, and the class and number of shares of the corporation's capital stock known to be beneficially owned by such other stockholders and beneficial owners;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) whether such stockholder or Stockholder Associated Person intends:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to deliver a proxy statement and form of proxy to holders of a sufficient number of holders of the corporation's voting shares required to approve or adopt such Business (an affirmative statement of such intent, a "Solicitation Notice"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to otherwise solicit proxies from stockholders in support of such Business and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) to comply with all applicable requirements of the Exchange Act with respect to the matters set forth herein; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) a representation that the stockholder giving notice shall provide all other information and affirmations, updates and supplements required pursuant to, and otherwise comply with, these by-laws by the applicable deadlines.

The stockholder submitting a notice required in accordance with this ARTICLE TWENTY-SEVENTH shall (a) provide any other information reasonably requested from time to time by the corporation within five business days after each such request, (b) update and supplement promptly (and in any event no later than two business days prior to the commencement of the applicable meeting of stockholders) any information provided to the Solicitation Notice, or at the corporation's request pursuant to the foregoing clause (a), if any such information ceases for any reason to be accurate or complete in any material respect and (c) affirm such information as accurate and complete as of two business days prior to the

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commencement of the applicable meeting of stockholders. Any such affirmation, update and/or supplement must be delivered or mailed (by certified, registered or overnight mail and postage prepaid) and received by the secretary of the corporation at the principal executive offices of the corporation by the applicable date.

No business shall be conducted at the annual meeting of stockholders except Business brought before the annual meeting in accordance with the procedures set forth in this ARTICLE TWENTY-SEVENTH, provided, however, that, once Business has been properly brought before the annual meeting in accordance with such procedures, nothing in this ARTICLE TWENTY- SEVENTH shall be deemed to preclude discussion by any stockholder of any such Business. The chairman of an annual meeting (or, in advance of any annual meeting of stockholders, the board of directors) shall determine whether business was properly brought before the annual meeting in accordance with the foregoing procedures, and, if the business was not properly brought in compliance with the foregoing procedures, declare that the business shall not be transacted.

Notwithstanding the foregoing provisions of ARTICLE TWENTY-SEVENTH, a stockholder shall also comply with all applicable requirements of the Exchange Act and the rules and regulations thereunder with respect to the matters set forth in these by-laws; provided, however, that any references in these by-laws to the Exchange Act or the rules promulgated thereunder are not intended to and shall not limit the requirements of these by-laws applicable to nominations or proposals as to any other business to be considered pursuant to these by-laws, regardless of the stockholder's intent to utilize Rule 14a-8 under the Exchange Act or other federal laws or rules. Nothing in these by-laws shall be deemed to affect any rights (i) of stockholders to request inclusion of proposals in the corporation's proxy statement pursuant to Rule 14a-8 under the Exchange Act or (ii) of the holders of any series of preferred stock if and to the extent required by law, the certificate of incorporation or these by-laws.

<u>FORUM SELECTION</u>

TWENTY-EIGHTH: Unless the corporation consents in writing to the selection of an alternative forum, to the fullest extent permitted by law, the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the corporation, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee of the corporation to the corporation or the corporation's stockholders, (iii) any action asserting a claim

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arising pursuant to any provision of the DGCL, or (iv) any action asserting a claim governed by the internal affairs doctrine (the actions or proceedings described in clauses (i) through (iv) of this ARTICLE TWENTY-EIGHTH, collectively, an "Intracorporate Proceeding") shall be the Court of Chancery of the State of Delaware (or if the Court of Chancery does not have jurisdiction, another state court located within the State of Delaware or, if no state court located within the jurisdiction has jurisdiction, the federal district court for the District of Delaware), in all cases subject to the court's having personal jurisdiction over the indispensable parties named as defendants. Any person or entity purchasing or otherwise acquiring any interest in shares of the capital stock of the corporation shall be deemed to have notice of and consented to the provisions of this ARTICLE TWENTY-EIGHTH. Unless the corporation consents in writing to the selection of an alternative forum, the federal district courts of the United States of America shall be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act of 1933, as amended from time to time.

<u>AMENDMENTS</u> <u>OF</u> <u>BY-LAWS</u>

TWENTY-NINTH :These by-laws may be amended, altered, repealed, or added to at any regular meeting of the stockholders or board of directors or at any special meeting called for that purpose, by affirmative vote of a majority of the stock issued and outstanding and entitled to vote or of a majority of the directors in office, as the case may be.

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## Exhibit 31.1

**EXHIBIT 31.1**

**CERTIFICATIONS**

I, Ben M. Palmer, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of RPC, Inc.;

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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;&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;&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.

---

| | |
|:---|:---|
|  | /s/ Ben M. Palmer |
| Date: October 30, 2025 | Ben M. Palmer |
|  | President and Chief Executive Officer |
|  | (Principal Executive Officer) |

---

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## Exhibit 31.2

**EXHIBIT 31.2**

**CERTIFICATIONS**

I, Michael L. Schmit, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of RPC, Inc.;

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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;&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;&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.

---

| | |
|:---|:---|
|  | /s/ Michael L. Schmit |
| Date: October 30, 2025 | Michael L. Schmit |
|  | Vice President, Chief Financial Officer and Corporate Secretary |
|  | (Principal Financial and Accounting Officer) |

---

------

## Exhibit 32.1

**EXHIBIT 32.1**

CERTIFICATION OF PERIODIC FINANCIAL REPORTS PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

To the best of their knowledge the undersigned hereby certify that the Quarterly Report on Form 10-Q of RPC, Inc. for the period ended September 30, 2025, fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934 (15 U.S.C. Sec. 78m) and that the information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of RPC, Inc.

---

| | |
|:---|:---|
|  | /s/ Ben M. Palmer |
| Date: October 30, 2025 | Ben M. Palmer |
|  | President and Chief Executive Officer |
|  | (Principal Executive Officer) |

---

---

| | |
|:---|:---|
|  | /s/ Michael L. Schmit |
| Date: October 30, 2025 | Michael L. Schmit |
|  | Vice President, Chief Financial Officer and Corporate Secretary |
|  | (Principal Financial and Accounting Officer) |

---

------