Weatherford CEO expects revenue growth and EBITDA margin expansion in 2022; Russia 5-7% of revenue

Weatherford International plc

Russia represents 5-7% of historical revenue at 2021 FX rates; Q1 impact limited to ruble depreciation.
Demand outlook for oilfield services elevated by recent events, underscoring need for energy supply investment.
Continues to expect revenue growth and adjusted EBITDA margin expansion for full-year 2022.
Expects to offset inflation headwinds and exit 2022 with adjusted EBITDA margins at least 50 bps higher than 2021.

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