TETRA TECHNOLOGIES, INC. REPORTS STRONG THIRD-QUARTER 2026 RESULTS

Brady Murphy, President and Chief Executive Officer of TETRA Technologies

“Third-quarter revenue of $168.0 million was up 10% year over year and represented our highest third-quarter revenue in the past ten years. International revenue reached $68.8 million, or 41% of consolidated revenue, marking the strongest third quarter in 10 years. Adjusted EBITDA of $25.1 million was our second-highest third-quarter in the past ten years. Our third quarter results demonstrated broad-based strength across our portfolio, with multiple businesses achieving significant performance milestones. Record-level revenue was supported by continued growth in international markets, accelerated growth in industrial chemical sales, and continued strength and outlook for deepwater markets. Industrial Chemicals generated its strongest third-quarter revenue in a decade, with 32% year-over-year growth, and accounted for more than 50% of our Completion Fluids and Products' third-quarter revenue. This growth is supported by an expanding U.S. industrial market, including semiconductor manufacturing and by demand for electrolytes for energy storage. Our Water and Flowback segment experienced year-over-year revenue growth of 21% and an Adjusted EBITDA margin increase of 480 basis points to 16.7%. This growth was the result of our production testing operations delivering a ten-year high for third-quarter revenue and Adjusted EBITDA for the segment. Production testing grew 9% quarter-over-quarter, driven largely by automated TETRA SandStorm market share gains in the U.S., and grew 60% year-over year, driven by international. Supporting our long-term growth and margin expansion for deepwater fluids and industrial chemicals is our Arkansas bromine plant, which continues to advance on schedule and on budget. We are now less than 12 months away from the plant being mechanically complete. Importantly, all major mechanical equipment has been engineered and is either delivered or under confirmed purchase order for future delivery, with total costs below our Board approved final investment decision (FID). Our team has done an exceptional job managing inflationary pressures while keeping the project on its original schedule and within approved capital spending levels. We remain on track to commence production at an annualized rate of 37 million pounds at the beginning of 2028 and ramp to the facility's 75-million-pound annual capacity by 2030, consistent with our ONE TETRA 2030 strategy. We continue to be encouraged by the quality and breadth of customer engagement with our patented TETRA Oasis Total Desalination Solution ("TETRA Oasis"), We currently have seven projects in our pipeline, including four tied to data centers or their power requirements. The combination of increasing produced water disposal constraints in the Permian Basin and substantial water requirements from data center development has created a significantly larger opportunity than we initially envisioned. We believe TETRA Oasis is uniquely positioned to help address both challenges by converting produced water from a disposal liability into a valuable resource. Permitting remains the primary next step toward commercialization, with six beneficial reuse applications currently pending before the Texas Commission on Environmental Quality (TCEQ). TETRA's customers are the permittees and we continue to engage with both the TCEQ and the Environmental Protection Agency (EPA), providing in-depth answers to their queries, including results from water quality tests. Looking forward to the fourth quarter and 2027, the outlook for our base business remains strong. Deepwater and International activity looks robust as does a return to more completion activity in the Gulf of America. International growth for Production Testing is expected to continue with our first automated TETRA SandStorm technology deployments to the Middle East which have supported our exceptional growth in Argentina. For the fourth quarter of 2026, we expect consolidated revenue and Adjusted EBITDA to be up double digits year-on-year and for full year 2027 we expect revenue and Adjusted EBITDA to increase relative to 2026. As our customer spending plans get announced in the fourth quarter we will further update our outlook accordingly.”