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NINE ENERGY SERVICE

INVESTOR PRESENTATION

AUGUST 2018

Forward-Looking Statements & Non-GAAP Financial MeasuresCertain statements in this presentation are forward-looking statements that are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than statements of historical fact included in this presentation, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this presentation, the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements may include statements about the volatility of future oil and natural gas prices; our ability to successfully manage our growth, including risks and uncertainties associated with integrating and retaining key employees of the businesses we acquire; availability of skilled and qualified labor and key management personnel; our ability to accurately predict customer demand; competition in our industry; governmental regulation and taxation of the oil and natural gas industry; environmental liabilities; our ability to implement new technologies and services; availability and terms of capital; general economic conditions; operating hazards inherent in our industry; our financial strategy, budget, projections, operating results, cash flows and liquidity; and our plans, business strategy and objectives, expectations and intentions that are not historical. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements contained herein are reasonable, we can give no assurance that these plans, intentions or expectations will be achieved.

For additional information regarding known material factors that could affect our operating results and performance, please see our final IPO prospectus, Current Reports on Form 8-K, Annual Report on Form 10-K and Quarterly Reports on Form 10-Q which are available at the SEC’s website, http://www.sec.gov. Should one or more of these known material risks occur, or should the underlying assumptions change or prove incorrect, our actual results, performance, achievements or plans could differ materially from those expressed or implied in any forward-looking statement. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. All subsequent written or oral forward-looking statements concerning us are expressly qualified in their entirety by the cautionary statements above. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except as required by law. All information in this presentation is as of June 30, 2018 or December 31, 2017 as indicated unless otherwise noted.

In addition to reporting financial results in accordance with GAAP, the Company has presented Adjusted EBITDA, Adjusted EBITDA margin and return on invested capital (ROIC). These are not recognized measures under, or an alternative to, GAAP. The Company’s management believes that this presentationprovides useful information to management, analysts and investors regarding certain additional financial and business trends relating to its results of operations and financial condition. In addition, management uses these measures for reviewing the financial results of the Company. These non-GAAP measures are intended to provide additional information only and do not have any standard meaning prescribed by GAAP. Use of these terms may differ from similar measures reported by other companies. In particular, because of its limitations, Adjusted EBITDA should not be considered as a measure of discretionary cash available to use to reinvest in growth of the Company’s business, or as a measure of cash that will be available to meet the Company’s obligations. These non-GAAP measures have limitations as an analytical tool, and you should not consider them in isolation or as a substitute for analysis of the Company’s results as reported under GAAP.

Industry and Market DataThis presentation includes market data and other statistical information from third party sources, including independent industry publications, government publications and other published independent sources. Although the Company believes these third party sources are reliable as of their respective dates, the Company has not independently verified the accuracy or completeness of this information.

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DISCLAIMER

COMPANY OVERVIEW

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NINE COMPANY OVERVIEW

Stage count and lateral length levered

H1 2018 Revenue by segment2

Completion Solutions

90%

Production Solutions

10%

100% ONSHORE NAM EXPOSURE

• Focused on ROIC – 2018 target of 8%

• 100% onshore North America with leverage to increasing completion intensity

• Super lateral, deep reach capable service offering and focus

• Agnostic to completion style – plug and perf (94%1 of horizontal market) and sleeve completions (6%1 of horizontal market)

OUR COMPANY

SIGNIFICANT EARNINGS POTENTIAL

$846

$544

$239

$60

2H 2014A Annualized ($mm) 2017

Adj. EBITDA Margin28%

1Spears and Associates. 2Revenue and Adjusted EBITDA annualized by doubling second half 2014. Second half 2014 annualized information is presented for informational purposes only to

reflect the impact of Crest Pumping Technologies, Dak-Tana, RedZone Coil Tubing and Big Lake Services, LLC for a full 12-month period. We believe that presenting investors with the

annualized information for the six months ended December 31, 2014 provides a representative period of the profitability of our business in a high demand environment, including six months of

results from the acquisitions of Dak-Tana Wireline, Crest Pumping Technologies and RedZone Coil Tubing and the results of the acquisition of Big Lake Services, LLC from August 29, 2014

through December 31, 2014. Such information does not reflect the actual results for 2014 had such transactions been consummated on any particular date. Adjusted EBITDA and Adjusted

EBITDA margin are not measures calculated in accordance with GAAP. See appendix for an Adjusted EBITDA reconciliation; 2Financials based on Q1 2018 and Q2 2018 revenue.

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Revenue RevenueAdj. EBITDA Adj. EBITDA

Adj. EBITDA Margin11%

TECHNOLOGY-DRIVEN COMPLETIONS OFFERING

SmartStart – Strategic alliance

FlowGun – Owned IP

TOE OF THE WELLHORIZONTAL LATERAL

ProprietaryLiner

Hanger Tools

Scorpion Dissolvable Plug–Owned IP

Offering includes tools & equipment capable of completing super laterals (10,000 ft.+)

Coil Activated Frac Sleeve –Strategic Alliance

EON Ball Drop Sleeve System–Strategic Alliance

PRE & POST STIMULATION

Long-stringCementing

Scorpion Composite Plug–Owned IP

MorphPackers StormTM Re-frac Packer – Strategic Alliance

2018E New US HZ Wells Drilled: 20,6751 2018E US Stage Count: 988,6561

1Spears & Associates. 5

Extremely reliable in super laterals (10,000 ft.+)

2018E New US HZ Wells Drilled: 20,6751

Large Diameter Coil + Memory Tools

BreakthruTM Casing Flotation Device- Strategic Alliance

Nine is capable of addressing 100% of the onshore wells drilled in North America, regardless of completion type

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MULTI-WELL PADS CONCENTRATE RISK

LONGER LATERALS l TIGHTER SPACING l PAD DRILLING

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Concentration of dollars / pad + exponential impact of Non-Productive Time = highly selective customers

SINGLE-WELL PAD COMPLETIONS MULTI-WELL PAD COMPLETIONS

Source: Spears & Associates and Company Estimates, 1Assumes IP rates of 1,000 boe/d at $65 WTI

• Total well cost: $5-$7mm

• ~8,000 feet of lateral length completed

• 40 stages

• 12mm pounds of sand

• 1,000 boe/d oil produced

• Total pad cost: $30-$42mm

• ~48,000 feet of lateral length completed

• 240 stages

• 72mm pounds of sand

• 6,000 boe/d oil produced

E&P Revenue/Day = ~$65,0001 E&P Revenue/Day = ~$390,0001

Barriers to entry continue to increase

Increased capital

efficiency

SUSTAINABLE VALUE PROPOSITION OF SERVICE & TECHNOLOGY

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Service and technology drives efficiencies and lowers total cost of ownership for operators

SERVICE/TECHNOLOGY PERFORMANCE DAYS SAVED REVENUE GENERATION FOR OPERATORS1

Scorpion Composite Plug 122 plugs drilled out

with 1 drill-bit.

Eliminated a bit trip

~2.5 days per

well

6 well pad = $975K

21 well pad = $3.4mm

Toe Valves Prep and stimulate

stage 1 in under 5 hours

~1 day per

well

6 well pad = 390k

21 well pad = $1.4mm

Nine Wireline 10+ stages per day with

99% success rate

~1.75 days2

per well

6 well pad = $683k

21 well pad = $2.4mm

Illustrative Days Saved

and Revenue Generated

~5.25 days

per well

6 well pad = $2.1mm

21 well pad = $7.2mm

1Assumes IP rates of 1,000 boe/d at $65 WTI. 2Assumes 70 stages per well with competitive comparison at 8 stages per day.

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3-PRONGED STRATEGY TO

TECHNOLOGY ACQUISITION

INTERNAL R&D IP ACQUISITION STRATEGIC ALLIANCES

Keep It Simple

• Focus on creating tools that lower operator costs and increase production

• Less “bells and whistles” and more assurance on successful deployment at 30,000+ feet downhole

• Small team of engineers thinking about customer needs, profitability and practicality

• Surgical spend on high-volume tools

Deliberate & Careful

• Used to secure technology that is prolific in the wellbore today and tomorrow

• Valuations must be right due to rapidly evolving technology with shortening payback times

Distribution Hub

• Requires broad NAM footprint and service offering to secure volume for partners

• Focused and technical sales team coupled with marketing effort

• Customer relationships and track-record of successful conveyance

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BROAD FOOTPRINT ENABLES TECHNOLOGY LEADERSHIP

Permian 38%

Rockies 4%

MidCon 10%

Marcellus / Utica 19%

Haynesville 9%

Bakken 5%

Canada 4%

Barnett 2%

Eagle Ford 9%

FOOTPRINT IN EVERY MAJOR NAM BASIN –significant benefit to potential

strategic partners through

distribution volume

EXCELLENT NAM REACH CAPABILITY –

proximity to

the field, customer

and acreage

LOCALIZED TEAMS WITH REGIONAL KNOWLEDGE –

share best practices

internally and

with customers

Service Coverage Area and Revenue by Region1

Major Unconventional Basins

1 YTD as of 12/31/2017.

BARRIERS TO ENTRY THROUGH TECHNOLOGY AND SERVICE

COMPLETION SOLUTIONS PERFORMANCE BARRIERS EQUIPMENT BARRIERS → FIT FOR “DEEP REACH”

Cementing Services • ~13,000 cementing jobs with on-time rate of ~90%1

• High-quality dedicated Midland, Delaware and Eagle Ford labs (to API specs) with testing capabilities to cement laterals over 10,000’ long → Redundant pumps with 1,000 HP and dual-sided bulk plants

Completion Tools • ~136,000 isolation and stage 1 tools and ~22,000 frac sleeves deployed2

• Owned IP of one of the most critical and prolific isolation tools for laterals reaching beyond 10,000’ →Highly dependable “toe” solutions

Wireline Services • ~88,000 stages with a success rate over 99%1

• Conveying greaseless wireline with less friction in super laterals

• Longest wireline completion of 19,000+ feet in lateral

Coiled Tubing Services • ~6,700 jobs and ~136 million running feet of coiled tubing with a success rate greater than 99%3 (Average lateral length/job +20,000 feet)

• ~ 75% of coil fleet is “Big Pipe” deep reach (≥2.375” diameter) → coupled with high HP frac pumps to push coil further downhole

PRODUCTION SOLUTIONS PERFORMANCE BARRIERS EQUIPMENT BARRIERS → FIT FOR “DEEP REACH”

Well Services • 65% utilization rate compared to 51% industry average4

• Fit for purpose fleet• ~40% of fleet capable of performing completion-

oriented work

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HOW DOES NINE BUILD MOATS AROUND THE BUSINESS?

Service + technology / equipment + people to service the longest laterals today and tomorrow

1Management estimates for time period from January 2014 to June 30, 2018; 2Management estimates for time period from March 2011 to June 30, 2018; 3Management estimates for

time period from April 2014 to June 30, 2018; 4Industry average based on Association of Energy Service Companies; period from January 2015 to June 30, 2018.

5.5

14.7

2014 Q2 2018

27

48

2014 2017

5%

9%

2014 Q2 2018

Nine Holds a Competitive Advantage in US Cementing Leading to Significant Market Share Gains

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1 2

80%

PROOF OF PERFORMANCE

Nine US Wireline & Completion Tools % of stages completed

Nine Avg. Stages Completed Per Well Stages / Employee / Month2

17%

33%

YE 2014 6/30/2018

Nine % rigs followed – South Texas2

10%

12%

YE 2014 6/30/2018

Nine % rigs followed – West Texas2

Source: 1Management estimates of Nine frac stages relative to industry frac stages based on Spears & Associates; 2Company Information.

78%

94%

20%

Majority Of Nine’s Completion Work Is Long Laterals Has Led To Increased Efficiencies And Higher Barriers To Entry

167%

CUSTOMERS WHO TRUST US

COMPLETION PRODUCTION

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Diverse, blue-chip customer base with minimal concentration

BUSINESS MANAGED FOR STRONG

RETURN ON CAPITAL

COMPLETION TOOLS COILED TUBINGCEMENTING

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WELL SERVICEWIRELINE

EQUIPMENT, PEOPLE & CAPEXMORE INTENSIVELESS INTENSIVE

Better OFS returns through cycle dictate a careful blend of capital intensity

See appendix for ROIC reconciliation

2014 ROIC

18% 16%

13% 9%

7% 6% 5% 3% 3% 1%

(1%)(7%)

Large Cap Nine Large Cap Large Cap Pres Pump Div Pres Pump Div Other Pres Pump Div Div

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RETURNS-FOCUSED GROWTH PHILOSOPHY

Permian Midcon Northeast Bakken Rockies Canada Eagle Ford Haynesville

Wireline

Cementing

Completion Tools

Coiled Tubing

Well Service

NINE PRESENCE

Balance of Organic Growth and Strategic M&A:Augment technology portfolio + Enhance NAM footprint

ORGANIC GROWTH

• Strategic expansion of existing service lines within NAM basins

• Deployment of capex for high-quality and differentiated equipment and facilities within the most active basins

• Market share gains through service and technology

• Securing and maintaining best talent in the industry

DISCIPLINED M&A

• Continue to consolidate highly fragmented industry

• Target only best-in-class companies and management teams

• Competitive advantage securing and sourcing non-marketed deals

• Entrepreneurs want to partner and stay with “like-minded” and nimble management team

FINANCIAL OVERVIEW

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$173.8

$205.5

Q1 18 Q2 18

$24.1

$30.6

Q1 18 Q2 18

2018 FINANCIAL PERFORMANCE

COMMENTARY

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2018 QUARTERLY RESULTS ($MM)

+~18%

Revenue

See appendix for Adjusted EBITDA and ROIC reconciliation.

• Nine’s first half growth driven by significant increase in activity (stages/# of jobs) in Completion Solutions segment

• Cementing jobs completed in Q2 increased ~32% versus Q4 2017

• Wireline stages completed in Q2 increased ~39% versus Q4 2017

• Coiled Tubing utilization increased ~8% percentage points versus Q4 2017

• Penetration of completion tool market share has helped drive both revenue and EBITDA growth

• Total stages completed in Q2 increased ~66% versus Q4 2017

• Strategic price increases continue with the significant increases through H1 coming in wireline at ~16% YTD

• Net income and ROIC tracking very well quarter over quarter while 2018 ROIC target of 8% remains on track

Adjusted EBITDA

Net Income ROIC

+~27%

+~429%

3%

8%

Q1 18 Q2 18

+~167%

$1.7

$9.0

Q1 18 Q2 18

• Nine has a total liquidity position of $120.2mm as of 6/30/18

• Nine will be disciplined with capital deployment, with a ROIC-focused philosophy

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BALANCE SHEET & LIQUIDITY POSITION

PRO FORMA CAPITALIZATION

As of June 30, 2018

($MM)

Cash $70.9

Debt

New Revolving Credit Borrowings 0.0

New Term Loan 115.3

Total debt 115.3

Net Debt $44.4

Total cash $70.9

RCF availability 49.3

Total liquidity $120.2

COMMENTARY

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UNIQUE VALUE PROPOSITION FOR INVESTORS

CLOSE TO PERFECTION.

FAR FROM ORDINARY.

DRIVEN TO SUCCEED.

APPENDIX

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2017 FINANCIAL PERFORMANCE

+93%

$282

$544

Q1 17

Q2 17

Q3 17

Q4 17

FY 2016 FY 2017

REVENUE 2017 OPERATIONAL PERFORMANCE

$10

FY 2016 FY 2017

Q1 17

Q2 17

Q3 17

Q4 17

$60

+506%

ADJUSTED EBITDA

($ in millions)• Completion Solutions – revenue increased by

approximately 110% year over year

− Cementing jobs for 2017 increased approximately 75% over 2016. The average blended revenue per job for the full year 2017 increased approximately 45% from 2016

− Wireline stages completed in 2017 increased by approximately 65% over 2016

− Completion tool stages completed in 2017 increased by approximately 243% over 2016

− Coiled tubing total days worked for 2017 increased by approximately 48% over 2016 with the average blended dayrate for 2017 increasing by approximately 39%

• Production Solutions – revenue for the full year 2017 increased by approximately 28% year over year

− Total rig hours worked for 2017 increased by approximately 26% over 2016

See appendix an Adjusted EBITDA reconciliation

($ in millions)

(1) Nine closed the acquisitions of Crest Pumping Technologies on June 30, 2014 and Dak-Tana Wireline on April 30, 2014 and Beckman closed the acquisitions of RedZone Coil Tubing on May 2, 2014 and Big Lake Services, LLC on August 29, 2014. As a result, financial results relating to each acquisition for periods prior to the close of each of the aforementioned acquisitions are not reflected in the full year 2014 results. We believe that presenting investors with the annualized information for the six months ended December 31, 2014 provides a representative period of the profitability of our business in a high demand environment, including six months of results from the acquisitions of Dak-Tana Wireline, Crest Pumping Technologies and RedZone Coil Tubing and the results of the acquisition of Big Lake Services, LLC from August 29, 2014 through December 31, 2014. For comparative purposes, we have also included such information for the six months ended June 30, 2014. (2) For 2014, represents a non-cash impairment charge related to the divestiture of certain assets of a subsidiary whose primary focus was conventional completions. (3) Loss or gain related to the revaluation of liability for contingent consideration relating to our acquisition of Scorpion to be paid in shares of Company common stock and in cash, contingent upon quantities of Scorpion Composite Plugs sold during 2016 and gross margin related to the product sales for three years following the acquisition. (4) Amount represents fees and legal settlements associated with legal proceedings brought pursuant to the Fair Labor Standards Act and/or similar state laws.

EBITDA AND ADJ. EBITDA RECONCILIATION

Three Months Ended Three months ended Year ended December 31Six months

endedSix months

ended

($ mm unless otherwise noted) 30-Jun-18 31-Mar-18 31-Dec-17 30-Sep-17 30-Jun-17 31-Mar-17 2017 2016 2015 2014

June 30,

20141

December

31, 20141

EBITDA Reconciliation

Net income (loss) $9.0 $1.68 ($29.81) ($5.10) ($12.10) ($20.70) ($67.68) ($70.90) ($39.10) $48.00 $27.10 $20.90

Interest expense $1.8 2.9 3.9 4.1 3.9 3.8 15.7 14.2 9.9 9.6 2.8 6.7

Depreciation 13.2 13.1 13.1 13.2 13.6 13.6 53.4 55.3 58.9 40.2 13.1 27.1

Amortization 1.9 1.9 2.2 2.2 2.2 2.2 8.8 9.1 8.7 6.4 2.1 4.3

Provision (benefit) from income taxes .65 0.09 -8.0 0.8 - 2.2 -5.0 -26.3 -14.3 44.5 17 27.6

EBITDA $26.6 $19.71 ($18.55) $15.20 $7.70 $1.00 $5.26 ($18.70) $24.00 $148.60 $62.00 $86.60

Adjusted EBITDA Reconciliation

EBITDA 26.6 $19.71 ($18.55) $15.20 $7.70 $1.00 $5.26 ($18.70) $24.00 $148.60 $62.00 $86.60

Impairment of goodwill and other intangible assets - - 35.3 - - - 35.3 12.2 35.5 - - -

Transaction expenses - 0.4 0.2 0.1 0.4 3 3.6 - 0.2 3.9 2.8 1.1

Loss from discontinued operations2 - - - - - - - - 0.9 28.2 2 26.2

Loss or gains from the revaluation of contingent liabilities3 0.6 1.1 0.0 0.3 0.1 0.1 0.4 1.7 -0.3 - - -

Loss on equity investment 0.1 .08 0.1 0.1 0.2 - 0.4 - - - - -

Non-cash stock-based compensation expense 4.0 2.2 1.2 2.2 2.7 1.5 7.6 5.7 5.5 5.4 1.9 3.5

Loss or gains on sale of assets (0.9) 0.4 -0.1 0.1 4.4 0.2 4.7 3.3 2 1 - 0.9

Legal fees and settlements4 0.2 0.3 0.2 0.2 0.4 0.2 1.0 4.1 - - - -

Inventory writedown - - 0.3 - 1 - 1.4 0.3 2.8 1 - 1

Restructuring costs - - - - - - - 1.1 3.3 - - -

Adjusted EBITDA $30.6 $24.1 $18.71 $18.10 $16.70 $6.10 $59.58 $9.80 $73.90 $188.20 $68.80 $119.40

Revenue 205.5 173.8 154.28 148.2 135.9 105.4 543.7 282.4 478.5 663.2 240 423.2

% Adj. EBITDA margin 15% 14% 12% 12% 12% 6% 11% 3% 15% 28% 29% 28%

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ROIC RECONCILIATION

($ MM UNLESS OTHERWISE NOTED)

Three Months Ended

30-Jun-18

Three Months Ended

31-Mar-18

Year Ended December 31

2014

After-tax net operating profit reconciliation:

Income (loss from continuing operations net of tax) $9.0 $1.7 $76.2

Add back: Interest expense 1.8 2.9 9.6

Exclude: Taxes on interest (0.4) (0.6) (3.5)

After-tax net operating profit $10.5 $4.0 $82.2

Total capital as of prior period-end:1

Total stockholders' equity $459.4 $287.4 $192.5

Total debt 115.3 242.2 140.8

Less: Cash and cash equivalents (72.9) (17.5) (18.5)

Total capital $501.8 $512.1 $314.8

Total capital as of period-end:

Total stockholders' equity $472.2 $459.4 $389.6

Total debt 115.3 115.3 379.7

Less: Cash and cash equivalents (70.9) (72.9) (24.2)

Total capital $516.6 $501.8 $745.1

Average total capital $509.2 $506.9 $529.9

ROIC 8% 3% 16%

ROIC is defined as after-tax net operating profit divided by average total capital. After-tax net operating profit is defined as income (loss) from continuing operations (net of tax) plus interest expense, less taxes on interest. Total capital is defined as book value of equity plus the book value of debt less balance sheet cash and cash equivalents. Book value of equity is average of current and prior year total equity balances. Book value of net debt is average of current and prior period-end net debt balances.1 For 2014, total capital as of prior year-end is based on Beckman and Nine combined unaudited historical financial information.

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