2018 Q1 Earnings Presentation

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1 2018 Q1 Earigs Presetatio May 9, 2018 NYSE: PUMP

2 FORWARD-LOOKING STATEMENTS Certai iformatio icluded i this presetatio costitutes forward-lookig statemets withi the meaig of the Private Securities Litigatio Reform Act. These forward-lookig statemets are subject to umerous risks ad ucertaities, may of which are difficult to predict, ad geerally beyod our cotrol. Actual results may differ materially from those idicated or implied by such forward-lookig statemets. For iformatio o idetified risks ad ucertaities that could impact our forecasts, expectatios, ad results of operatios, please review the risk factors ad other iformatio disclosed from time to time i our filigs with the Securities ad Exchage Commissio. This presetatio refereces Adjusted EBITDA, a o-gaap fiacial measure. This o- GAAP measure is ot iteded to be a alterative to ay measure calculated i accordace with GAAP. We believe the presetatio of Adjusted EBITDA provides useful iformatio to ivestors i assessig our fiacial coditio ad results of operatios. Net icome is the GAAP measure most directly comparable to Adjusted EBITDA. No-GAAP fiacial measures have importat limitatios as aalytical tools because they exclude some, but ot all, items that affect the most directly comparable GAAP fiacial measures. You should ot cosider Adjusted EBITDA i isolatio or as a substitute for a aalysis of our results as reported uder GAAP. Further, Adjusted EBITDA may be defied differetly by other compaies i our idustry, ad our defiitio of Adjusted EBITDA may ot be comparable to similarly titled measures of other compaies, thereby dimiishig their utility. A recociliatio of o-gaap measures to the most directly comparable measures calculated i accordace with GAAP, is set forth i the Appedix hereto. 2

3 DISCUSSION TOPICS ProPetro at a Glace Permia Basi Update 2018 Q1 Highlights 2018 Q1 Fiacial Review Uique Positioig 3

4 OVERVIEW 100% Frac Operatios Permia Cocetrated Permia Focused Customers 905,000 HHP Spread over 20 Crews(1) Over 8x Orgaic HHP Growth Sice 2013(2) Customer ad Employee Focused Busiess Model 20 Hydraulic Fracturig Uits(1) 905,000 HHP(1) 18 Cemetig Uits(1) 3 Coiled Tubig Uits 10 Acidizig Pumps Flowback Operatios (1) Estimate as of YE 2018 (2) Growth calculated usig YE 2012 to estimated YE 2018 * 4

5 PERMIAN MACRO Healthy Frac Demad Outpacig HHP Capacity Drive by E&P Acquisitios, Attractive Ecoomics, ad Completio Itesity Strog Pricig for Services Drive by Rig Activity ad Short Supply of HHP Capacity Mature ad Evolvig Ifrastructure Drive by Historical Activity Levels ad New Regioal Sad Mies Total U.S. Oshore Oil Directed Rig Cout: 834 (1) Total U.S. Oshore Oil Rigs Added Sice Trough (May 2016): 518 (1) Other 45 % Permia Permia Basi Basi 49% 55 % Other 38 % Permia Basi Permia Basi 54% 62 % (1) Baker Hughes Rig Data, May 4,

6 2018 Q1 HIGHLIGHTS Sigificat fiacial improvemet from 2017 Reveue (MM) 23% $385.2 $313.7 $171.9 Q Q Q % Adj. EBITDA Margi (2) 9.4 % 14.4 % 16.9 % $ 16.2 $16.2 Adj. EBITDA (MM) (1) $ 30.7 $ % $ 47.8 $76.7 Q1 Q2 Q3 Q Q Q Net Icome (MM) 263% $36.7 $10.1 $(24.4) Q Q Q Cotiued frac fleet utilizatio of 100% - Exited Q1 with 18 deployed fleets Fleet deploymet o schedule - Deployed two ew-build fleets i Q1 - Recetly deployed 19 th fleet - Plas to add 20 th fleet i Q Deployed 35,000 HHP to legacy fleets i Q1 to icrease average fleet size to 45,000 HHP/fleet (1) For a recociliatio to et icome (loss), please see Appedix (2) Defied as Adj. EBITDA over Reveue 6

7 2018 Q1 FINANCIAL HIGHLIGHTS Reveue: $385.2 MM Adjusted EBITDA: $76.7 MM Diluted Earigs Per Share (EPS): $0.42 Coservative Leverage Profile (1) Cash: $46.4 MM Total Debt: $117.3 MM Total Liquidity: $146.4 MM (2) 2018 Q1 Reveue Mix No- Permia 2% All Other 3% Permia 98% Pressure Pumpig 97% (1) As of March 31, 2018 (2) Icludig partially draw revolvig credit facility with capacity of $200 MM 7

8 HORSEPOWER GROWTH AND UTILIZATION Moder Homogeeous Fleet 89% of curret fleet built by sigle maufacturer sice % of Fleet Curretly Works 24/7 (1) Fully Maitaied Through the Dowtur No Speculative New-Builds Idustry Leadig Utilizatio 900, , , , , , , , , Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q1E 2018 Q2E 2018Q3E 2018 Q4E Total Horsepower Utilized Horesepower Chart based o ed of period HHP couts (1) Based o 2018 Q1 stages 8

9 UNIQUELY POSITIONED FOR SUCCESS Permia Focus Positioed i the low cost basi Blue Chip Customers Large drillig ivetories ad sizeable rig programs Superior Performace Cosistetly outperformig the competitio o locatio Full Caledar Fully booked caledar through the ed of 2018 ad beyod Strog Balace Sheet Miimal debt with disciplied capital allocatio No Speculative New-Builds Strog customer commitmets High Utilizatio Through Cycles Great history of battlig cyclicality Delaware Upside Sigificat opportuities with curret customers ad beyod 9

10 APPENDIX 10

11 ADJUSTED EBITDA RECONCILIATION 11

12 CONTACT Corporate Headquarters: 1706 S. Midkiff, Bldg. B Midlad, TX Ivestor Relatios: Sam Sledge sam.sledge@propetroservices.com Office Direct

Acquisition of Pumping Services Assets from Pioneer Natural Resources November 13, NYSE: PUMP

Acquisition of Pumping Services Assets from Pioneer Natural Resources November 13, 2018 NYSE: PUMP www.propetroservices.com FORWARD-LOOKING STATEMENTS Certain information included in this presentation