NCS settles $40.8M Texas litigation; insurance pays, no cash outflow

NCS Multistage Holdings, Inc.

Settled Boyd & McWilliams Texas matter; insurance carrier pays all agreed-upon amounts; no cash payment by NCS.
As of Sep 30, 2023, NCS had accrued $40.8M litigation provision; expects to fully offset in Q4 2023 with settlement benefit.
Wyoming property damage litigation also settled in Aug 2023, fully paid by insurance; no outstanding property damage claims.

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