Innovex International, Inc.

North America

Alice, TX · Field District · Leased · 17,125

Amelia, LA · Field District / Manufacturing · Leased · 7,200

Andrews, TX · Field District · Leased · 16,480

Andrews, TX · Field District · Owned · 5,652

Bonnyville, Alberta, Canada · Warehouse · Leased · 11,200

Broussard, LA · Field District · Leased · 10,000

Calgary, Alberta, Canada · Office Space · Leased · 3,565

Clairmont, Alberta, Canada · Warehouse · Leased · 38,700

Conroe, TX · Field District · Leased · 28,345

Corpus Christi, TX · Field District · Leased · 3,000

Denver, CO · Sales Office · Leased · 2,178

Dickinson, ND · Field District · Leased · 5,000

Duchess, Alberta, Canada · Warehouse · Leased · 8,800

Edmonton, Alberta, Canada · Field District · Leased · 201,061

Edmonton, Alberta, Canada · Warehouse · Leased · 86,112

Estevan, CA · Field District · Owned · 6,000

Grove City, PA · Field District · Leased · 24,800

Houston, TX · Field District · Leased · 72,000

Houston, TX · Manufacturing · Leased · 76,872

Houston, TX · Warehouse · Leased · 141,362

Humble, TX · Corporate HQ, Mfg · Leased · 175,000

Humble, TX · Warehouse · Leased · 92,764

Johnstown, CO · Field District · Leased · 9,050

Kindersley, Saskatchewan, Canada · Warehouse · Leased · 10,080

Longview, TX · Field District · Leased · 10,200

Lucerne , TX · Manufacturing · Owned · 165,000

Midland, TX · Field District · Leased · 68,830

Mineral Wells , TX · Manufacturing · Owned · 130,000

Naples, UT · Field District · Leased · 6,000

Odessa, TX · Field District · Leased · 16,800

Oklahoma City, OK · Field District · Leased · 11,850

Pleasanton, TX · Field District · Leased · 9,000

Red Deer, Alberta, Canada · Office Space · Leased · 12,800

Red Deer, Alberta, Canada · Warehouse · Leased · 18,360

Swift Current, Saskatchewan, Canada · Warehouse · Leased · 6,000

Tuttle, OK · Field District · Leased · 9,200

Williston, ND · Field District · Leased · 49,620

International

Aberdeen, Scotland · Manufacturing · Owned · 215,500

Aberdeen, Scotland · Regional Office · Leased · 27,242

Abu Dhabi, UAE · Field District · Leased · 9,074

Bac Ninh Province, Vietnam · Manufacturing · Leased · 137,239

Bogota, Colombia · Office Space · Leased · 2,045

Cipolletti, Argentina · Office Space · Leased · 1,313

Dammam, Saudi Arabia · Field District · Leased · 53,560

Dammam, Saudi Arabia · Manufacturing · Owned · 25,700

Dhahran, Saudi Arabia · Warehouse · Leased · 10,764

Dubai, UAE · Regional Office · Leased · 3,946

Esbjerg, Denmark · Warehouse · Leased · 12,600

Funza, Colombia · Warehouse · Leased · 15,985

Macaé, Rio de Janeiro, Brazil · Field District / Manufacturing · Owned · 183,366

Muscat, Oman · Field District · Leased · 8,880

Neuquen, Argentina · Warehouse · Leased · 1,050

Nuevo Paraiso, Ecuador · Field District · Leased · 112,483

Perth, Australia · Field District · Leased · 1,615

Porthlethen, Scotland · Field District · Owned · 40,251

Quito, Ecuador · Office Space · Leased · 1,722

Shui Yang District, China · Field District · Leased · 27,986

Stavanger, Norway · Field District · Owned · 1,070

Stavanger, Norway · Field District / Manufacturing · Owned · 42,216

Villahermosa, Mexico · Office Space · Leased · 27,274

Villahermosa, Mexico · Warehouse · Leased · 123,957

Welshpool, Australia · Warehouse · Leased · 28,000

• Dril-Quip do Brasil Ltda. Brazil⁴
• Honing, Inc. Texas⁴
• INVX Asia Pacific Pte Ltd Singapore⁴
• Innovex Canada ULC Alberta⁴
• Innovex Colombia S.A.S. Colombia⁴
• Innovex Downhole Solutions, LLC Delaware⁴
• Innovex SPC Oman⁴
• Innovex Saudi Arabia Oil Tools Limited Saudi Arabia⁴
• PT. DQ Oilfield Services Indonesia Indonesia⁴
• Rubicon Oilfield International AS Norway⁴
• Rubicon Oilfield International UK Ltd. Scotland⁴
• SCF Machining Corporation Quebec⁴
• SCF Machining Corporation Vietnam Company Limited Vietnam⁴
• TIW International LLC Delaware⁴
• TIW LLC Delaware⁴
• TIWEC, S.A. Ecuador⁴
• Tercel Oilfield Products USA, L.L.C. Texas⁴
• The Technologies Alliance, Inc. Texas⁴

• We are subject to the risk of supplier concentration for certain product lines.
• Our customers’ industries are undergoing continuing consolidation that may impact our results of operations.
• We could lose customers or generate lower revenue, operating profits and cash flows if there are significant increases in the cost of raw materials or if we are unable to obtain raw materials.
• We are exposed to counterparty credit risk, including nonpayment and nonperformance by our customers, suppliers or vendors, which could adversely impact our operations, cash flows and financial condition.
• We may not be able to satisfy technical requirements, testing requirements or other specifications under contracts and contract tenders.
• Growth in drilling and completion activity, and our ability to benefit from such growth, could be adversely affected by any significant constraints in equipment, labor or takeaway capacity in the regions in which we operate.
• Equipment failures or production curtailments or shutdowns at our manufacturing and production facilities could adversely affect our manufacturing capability.
• We rely on a few key employees whose absence or loss could adversely affect our business.
• If we are unable to employ a sufficient number of skilled and qualified workers, our capacity and profitability could be diminished and our growth potential could be impaired.
• A negative shift in investor sentiment of the oil and natural gas industry has had and could in the future have adverse effects on our customers’ operations, our business and on our access to investors and financing.
• Our ability to access capital and credit markets or borrow on affordable terms to obtain additional capital could be limited.
• The growth of our business through recently completed acquisitions and potential future acquisitions may expose us to various risks, including those relating to difficulties in identifying suitable, accretive acquisition opportunities and integrating businesses, assets and personnel, as well as difficulties in obtaining financing for targeted acquisitions and the potential for increased leverage or debt service requirements.
• The failure to successfully integrate businesses acquired in our recent merger and acquisition transactions could adversely affect our future results.
• Inflation could adversely affect the global economy, which could adversely affect our operating results.
• Disruptions in our supply chain for materials and components and the resulting increase in equipment and logistics costs could adversely affect our financial performance.
• We may identify material weaknesses in internal controls over financial reporting, which may not be remedied in a timely manner and could affect the reliability of our financial statements and have other adverse consequences.
• Our indebtedness and liquidity needs could restrict our operations and make us more vulnerable to adverse economic conditions.
• Restrictions in our debt agreements and any future financing agreements may limit our ability to finance future operations, meet capital needs or capitalize on potential acquisitions and other business opportunities.
• An increase in interest rates would increase the cost of servicing our indebtedness and could reduce our profitability, decrease our liquidity and impact our solvency.
• Our and our customers’ operations are subject to unforeseen interruptions and hazards inherent in the oil and natural gas industry, for which we or our customers may not be adequately insured and which could cause us to lose customers and substantial revenue.
• A terrorist attack or armed conflict could harm our business.
• We design, manufacture, sell, rent and install products that are used in oil and natural gas exploration, development and production activities, which may subject us to liability, including claims for personal injury, property damage, environmental contamination and other regulatory fines and penalties should such equipment fail to perform to specifications.
• Oilfield anti-indemnity provisions enacted by many U.S. states may restrict or prohibit a party’s indemnification of us.
• Seasonal weather conditions, natural disasters, public health crises, and other catastrophic events outside of our control could severely disrupt normal operations and harm our business.
• Global climate change may in the future increase the frequency and severity of weather events and the losses resulting therefrom, which could have a material adverse effect on the economies in the markets in which we operate or plan to operate in the future and therefore on our business.
• Our estimates of market opportunity and forecasts of market growth may prove to be inaccurate.
• Impairment in the carrying value of long-lived assets, inventory and intangible assets could negatively affect our operating results.
• We may be required to recognize a charge against current earnings because of over time method of accounting.
• Risks Related to Environmental and Regulatory Matters
• Our operations and the operations of our customers are subject to environmental, health and safety laws and regulations, and future compliance, claims, and liabilities relating to such matters may have a material adverse effect on our results of operations, financial position or cash flows.
• Our operations, and those of our customers, are subject to compliance with governmental regulations related to climate change.
• Federal, state and local legislative and regulatory initiatives relating to hydraulic fracturing as well as governmental reviews and investment practices for such activities may serve to limit future oil and natural gas exploration and production activities and could have a material adverse effect on our results of operations and business.
• Conservation measures, commercial development and technological advances could reduce demand for oil and natural gas and our products.
• Additional restrictions on drilling activities intended to protect certain species of wildlife may adversely affect our ability to conduct completion activities.
• Demand for our products and services could be reduced by existing and future legislation, regulations and public sentiment related to the transition away from fossil fuel energy sources.
• Risks Related to Technology Advancement
• To compete in our industry, we must continue to develop new technologies and products to support our operations, secure and maintain patents related to our current and new technologies and products and protect and enforce our intellectual property rights.
• If we are unable to obtain patents, licenses and other intellectual property rights covering our products, our operating results may be adversely affected.
• Patent terms may be inadequate to protect our competitive position for an adequate amount of time.
• Technology disputes could negatively impact our operations or increase our costs.
• Our failure to protect our proprietary information and any successful intellectual property challenges against us could materially and adversely affect our competitive position.
• We may be subject to claims that our employees, consultants, or advisors have wrongfully used or disclosed alleged trade secrets of their current or former employers or claims asserting ownership of what we regard as our own intellectual property.
• We may be adversely affected by disputes regarding intellectual property rights of third parties.
• If we are not able to design, develop, and produce commercially competitive products, our business and consolidated results of operations and the value of our intellectual property could be materially and adversely affected.
• We are subject to cybersecurity risks. A cyber incident could occur and result in information theft, data corruption, operational disruption and/or financial loss.
• We have experienced IT system disruptions and cyber attacks in the past, and a failure of our IT infrastructure and cyber attacks could adversely impact us in the future.
• Artificial Intelligence presents risks and challenges that can impact our business.
• Risks Related to Ownership of our Common Stock
• The market price of our common stock may be volatile.
• A significant reduction by Amberjack of its ownership interests in us could adversely affect us.
• Amberjack and its affiliates have the ability to exercise significant influence over certain corporate actions.
• Provisions in our certificate of incorporation and bylaws and under Delaware law could make an acquisition of the Company, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove our current management.
• Amberjack is not limited in its ability to compete with us. Pursuant to the terms of the Stockholders Agreement, Amberjack and its affiliates are not required to communicate or offer corporate opportunities to us, and our directors and officers may be permitted to offer certain corporate opportunities to Amberjack or its affiliates before us.
• Our bylaws provide that the Court of Chancery of the State of Delaware and the federal district courts of the United States are the exclusive forums for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
• We do not anticipate declaring or paying any cash dividends to holders of our common stock in the foreseeable future, and our existing debt agreements place certain restrictions on our ability to do so.
• We may issue preferred stock whose terms could adversely affect the voting power or value of our common stock.