Emerges from chapter 11 as a financially stronger company with greater optionality and flexibility to support long-term growth

Remains focused on delivering full suite of innovative completions solutions to customers

HOUSTON, March 5, 2026 /PRNewswire/ -- Nine Energy Service, Inc. ("Nine"), a leading onshore completions solutions provider, announced today the successful completion of its financial restructuring process. On February 1, 2026, Nine and its U.S. and Canadian subsidiaries filed voluntary, prepackaged chapter 11 cases (the "Chapter 11 Cases") in the U.S. Bankruptcy Court for the Southern District of Texas (the "Court"). Today, Nine emerged from the Chapter 11 Cases and Nine's plan of reorganization, confirmed by the Court on March 4, 2026, is now effective.

Nine achieved the objectives it set for this process, including reducing secured debt by approximately $320 million and annual interest expense by $40 million. Nine also received an exit ABL facility of $135 million from existing ABL lenders upon emergence from the Chapter 11 Cases. This will provide Nine with greater optionality and flexibility to support the Company's long-term financial health.

"Today marks the beginning of a new chapter for Nine as we move forward financially stronger, better positioned for future growth," said Ann Fox, President and Chief Executive Officer, Nine Energy Service, Inc. "With our financial restructuring process complete, Nine now has greater optionality and flexibility to support our success and enable us to continue providing customers with exceptional services safely and efficiently. I am grateful to our talented Nine team for their continued hard work and commitment, as well as our customers and vendors for their support and partnership throughout this process. I am confident that Nine has a bright future ahead."

Nine is advised in this matter by Kirkland & Ellis LLP and Kane Russell Coleman Logan PC as legal counsel, Moelis & Company as investment banker and FTI Consulting as financial and communications advisors. Certain noteholders under the Company's senior secured notes indenture are advised by Milbank LLP as legal counsel and Houlihan Lokey as investment banker. The ABL lenders are advised by Paul Hastings LLP as legal counsel.

About Nine Energy Service

Nine is a leading oilfield services business that supplies cutting edge solutions for unconventional oil and gas resource extraction and development across North America and abroad. Nine's culture is driven by an intense focus on performance and wellsite execution as well as a commitment to forward-leaning technologies that aid the development of smarter, customized applications that drive efficiencies and reduced emissions for customers. Nine is headquartered in Houston, Texas with operational reach that extends across all major onshore basins in the United States and Canada.

For more information on the Company, please visit Nine's website at nineenergyservice.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that do not state historical facts and are, therefore, inherently subject to risks and uncertainties. Forward-looking statements also include statements that refer to or are based on projections, uncertain events or assumptions. The forward-looking statements included herein, which include statements regarding the expected benefits from the financial restructuring, are based on current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those forward-looking statements. Such risks and uncertainties include, among other things, risks attendant to emergence from the Chapter 11 Cases, including the effects of the Chapter 11 Cases and emergence therefrom on the Company's liquidity, results of operations or business prospects; the effects of the Chapter 11 Cases and emergence therefrom on the interests of various constituents; capital spending and well completions by the onshore oil and natural gas industry; the level of capital spending and well completions by the onshore oil and natural gas industry, which may be affected by geopolitical and economic developments in the U.S. and globally, including conflicts, instability, acts of war or terrorism in oil producing countries or regions, particularly Russia, the Middle East, Venezuela and other countries in South America and Africa, as well as actions by members of the Organization of the Petroleum Exporting Countries and other oil exporting nations; general economic conditions and inflation, particularly, cost inflation with labor or materials; the effects of tariffs and other trade measures on the Company's business and on the onshore oil and natural gas industry generally; equipment and supply chain constraints; the Company's ability to attract and retain key employees, technical personnel and other skilled and qualified workers; the Company's ability to maintain existing prices or implement price increases on our products and services; pricing pressures, reduced sales, or reduced market share as a result of intense competition in the markets for the Company's dissolvable plug products; conditions inherent in the oilfield services industry, such as equipment defects, liabilities arising from accidents or damage involving our fleet of trucks or other equipment, explosions and uncontrollable flows of gas or well fluids, and loss of well control; the Company's ability to implement and commercialize new technologies, services and tools; the Company's ability to grow its completion tool business domestically and internationally; the adequacy of the Company's capital resources and liquidity; the Company's ability to manage capital expenditures; the Company's ability to accurately predict customer demand, including that of its international customers; the loss of, or interruption or delay in operations by, one or more significant customers, including certain of the Company's customers outside of the United States; the loss of or interruption in operations of one or more key suppliers; the incurrence of significant costs and liabilities resulting from litigation; cybersecurity risks; changes in laws or regulations regarding issues of health, safety and protection of the environment; and other factors described in the "Risk Factors" and "Business" sections of the Company's most recently filed Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof, and, except as required by law, the Company undertakes no obligation to update those statements or to publicly announce the results of any revisions to any of those statements to reflect future events or developments.

Media Contacts

Rachel Chesley / Rose Temple
NineEnergyServiceComms@fticonsulting.com

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SOURCE Nine Energy Service, Inc.