Paal Kibsgaard

Chairman and CEO

2018 Barclays CEO Energy-Power Conference

New York, September 4, 2018

Schlumberger-Private
Safe Harbor
This presentation contains
“forward-looking statements”
within the meaning of the
federal securities laws — that
is, statements about the future,
not about past events. Such
statements often contain words
such as “expect,” “may,”
“believe,” “plan,” “estimate,”
“intend,” “anticipate,” “should,”
“could,” “will,” “see,” “likely,” and
other similar words. Forward-
looking statements address
matters that are, to varying
degrees, uncertain, such as
statements about our financial
and performance targets and
other forecasts or expectations
regarding, or dependent on, our
business outlook; growth for
Schlumberger as a whole and
for each of our product lines
2
(and for specified products or
Schlumberger-Private
Key Questions

Why the need Why is Schlumberger Why will Schlumberger

for increased best positioned to generate the best returns
E&P investment? capture the growth? in the coming upcycle?

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 Why the need for increased E&P investment?

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The Path to Sustainable E&P Investment Levels
Illustrative Example:
Years required to reach sustainable investment levels
1,000
Annual Capex ($bn)

800
-44% +12%
600

400

200

0
2014 2015 2016 2017 2018 2019
100
Cumulative Capex Deficit ($bn)

0
-100
-200
-300
-400
-500
-600
-700 Assumes sustainable investment level is 80% of 2014 Capex

5 Source: Schlumberger analysis

Schlumberger-Private
The State of the International Production Base
Production Decline 2013-17* Major Project FID Production Growth 2013-17
(International excluding Middle East and (50+ mmboe reserves) (OPEC and Russia)
Russia)
kbbpd 50
Growth** Forward
28 Region
(MMbpd) Trend

40 Saudi Arabia + 0.6

26 Post-2014
FIDs Iran + 1.1
30
Pre-2014
24 Iraq + 1.4
FIDs
20
Base Production Venezuela - 0.5
22
10 Rest of OPEC - 0.3

Russia + 0.6
20 0
2013 2014 2015 2016 2017 2007-13 2014 2015 2016 2017
Average

6 Source: Rystad Energy, Schlumberger analysis. Source: Wood Mackenzie ** Source: IEA, SLB Analysis
*Top 15 International Producers Outside Middle East and Russia
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Global Supply Growth: 2010 – 2017
Supply Growth
MMbpd
12

10

8 International 32%
Supply Growth

4
North America 68%
2 Supply Growth

0
2010 2011 2012 2013 2014 2015 2016 2017

Reference year = 2010

7 Source: IEA, Schlumberger analysis.

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Evolution of Unit Well Performance – Eagle Ford
Number of Wells Best 3-Months Oil Normalized to Proppant Pumped

% bopd/mmlbs mmlbs
100 100 12

80 80

Child 8
60 60

40 40
Parent 4

20 20

0 0 0
2011 2012 2013 2014 2015 2016 2017 2018* 2011 2012 2013 2014 2015 2016 2017 2018

Parent Child Proppant

8 Source: SLB analysis of well data supplied by IHS Markit. * 2018 includes three months of data
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Evolution of Unit Well Performance – Permian
Number of Wells Best 3-Months Oil Normalized to Proppant Pumped

% bopd/mmlbs mmlbs
100 60 16

80
12
40
60 Parent
8
40 Child
20
4
20

0 0 0
2011 2012 2013 2014 2015 2016 2017 2018 2011 2012 2013 2014 2015 2016 2017 2018

Parent Child Proppant

9 Source: SLB analysis of well data supplied by IHS Markit. * 2018 includes one month of data
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 Global Demand Growth
Demand Growth by Region, 2017-2019E Y-o-Y Demand Growth OECD Inventories vs. 2010-14 Average

0 500 1,000 1,500

MMbpd MMbbl
kbpd 500
2.5
U.S.

Americas 400

Europe
2.0
OECD Asia 300

China
200
India
1.5
Russia
100
Brazil

Other Non-OECD
1.0 0
2015 2016 2017 2018E 2019E 2015 2016 2017 2018
2017 2018E 2019E

10 Source: IEA, Schlumberger analysis.

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International Activity Starting to Recover
International Rig Count Global Discovered Volumes

28
1,100

1,050
17

1,000

950
11

900
2016 2017 2018 Average Fewer Lower Average
2011-15 wells success 2017-18*
Billion boe

11 Source: BHI Worldwide Rig Count, IHS, Schlumberger analysis. *2018 includes six months of data
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 Why is Schlumberger best positioned to capture the growth?

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Unmatched Global Footprint
100,000 Employees

120 Countries

140+ Nationalities

90 Technology & Mfg centers

1,900 Facilities

Global Stewardship

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Revenue Evolution – by Geography
Revenue by Geography

Commercial Resources Execution

NAM

LAM

MEA

ECA

2014-2017 2018E 2019E

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Revenue Evolution –by Technology
Revenue by Technology Market segments SLB HAL WFT BHI FTI NOV
Wireline
Testing
RCG WesternGeco(1)
Software*
OneSurface*
Integrated Service Management*
Drilling & Measurements
DG M-I SWACO
Bits
Land Rigs
Integrated Drilling Services*
SPM*
PG Well Services
(2)

Artificial Lift Solutions

Completions
Valves and Measurement
Surface Systems
CAM OneSubsea
Drilling Systems

#1 #2 Present
2014-2017 2018E 2019E

15 Source: Spears OMR Apr 2018 and Schlumberger analysis. * Not in Spears report. (1) Shearwater to Acquire Schlumberger Marine Seismic Acquisition Business (8-22-2018). (2) Includes OneStim
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Offering a Full Range of Business Models

Integration map by GeoMarket*

2014 2017

SPM

20% LSTK
24%

Bundled Services

Standalone Products and Services

Low High
integ integ
ratio ratio
16 * 2017 Full year
n
n
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Technology Platform Approach

▪ System level development

Domain Expertise End-to-End

and Knowledge Industry
Workflows
▪ Technical collaboration

▪ Digital capabilities

▪ Increased automation
Data, Modeling, and Integrated Hardware
Machine Learning and Software

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Well Construction

▪ Total drilling system design

▪ Domain knowledge and data

▪ Modelling and automation

OneDrillSM

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Unconventional Completions

▪ Systems-based cost efficiency

▪ Digitally enabled hardware

▪ Fluid and modelling technologies

OneStimSM

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 Why will Schlumberger generate the best
returns in the coming upcycle?

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Leading Financial Performance Through The Cycle

Revenue EBITDA Margin Cash Flow from Operations

$B % $B
50 30 12

10
40
20 8
30
6
20
10 4
10 2

0 0 0
2012 2014 2016 2012 2014 2016 2012 2014 2016
-2

SLB HAL BHGE

21 Source: Company filings, Schlumberger analysis. Note Schlumberger acquired Cameron Q2 2016 and Baker Hughes merged with GE Oil & Gas Q2 2017.
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Perfecting Our Modernized Way of Working

Streamlined Internal Workflows Digital Capabilities

Professionalized Functions Millennials Workplace

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Our Goals

Top Line Outgrow

Incremental Margins >65%

Cashflow Conversion >75%

Excess Cash Return to Shareholders

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