Forum Energy Technologies realigns segments to Drilling & Completions and Artificial Lift & Downhole

FORUM ENERGY TECHNOLOGIES, INC.

After Variperm acquisition, FET moved from three segments to two: Drilling and Completions, and Artificial Lift and Downhole.
Historical FY2023 segment results recast retrospectively; no restatement of previously issued financials.
New segment structure aligns with business activity drivers, customer base, and management review.
Recast data appears in Exhibit 99.1; Q1 2024 report will reflect the new segments.

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