Nine Energy Services (NINE) Statement on U.S. District Court Decision

Nine Energy Service, Inc. (NYSE: NINE) (“Nine” or the “Company”) announced today that a jury in the Western District of Texas, Waco Division (the “Court”) reached a verdict on January 21, 2022 in the patent litigation regarding the Company’s BreakThru™ Casing Flotation Device and its alleged infringement of a patent held by NCS Multistage Holdings, Inc. (“NCS”). The jury found that Nine infringed on NCS’s patent and awarded NCS damages in the amount of less than $500,000.

The Company strongly disputes the merits of NCS’s case, believes that NCS’s patent is invalid and not infringed, and as such, intends to appeal the Court’s decision. Nine acquired Frac Tech and the Breakthru™ Casing Flotation Device technology in November 2018.

“We intend to vigorously pursue overturning this decision in the appellate court where it will be reviewed by subject-matter experts,” said Ann Fox, Nine’s President and Chief Executive Officer. “Technology is a crucial part of Nine’s strategy, and we will continue to protect and defend our products from these claims.”

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