Innovex International, Inc.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Issuer Purchases of Equity Securities

On February 25, 2025, the Company’s Board of Directors approved a share repurchase program (the “New Share Repurchase Program”) that authorizes repurchases of up to an aggregate of $100 million of Company Common Stock with no specified expiration date. The following is a summary of share repurchase activity during the fiscal quarter ended March 31, 2025.

(1) Includes share repurchases under the New Share Repurchase Program and those associated with certain employee elections under the Company's compensation and benefit programs.

(2) The difference between the total number of shares purchased and the total number of shares purchased as part of publicly announced plans or programs is 16,615 shares, which represents shares deemed surrendered to the Company to satisfy certain employee elections under the Company's compensation and benefit programs.

(3) Includes approximate dollar value of shares that were available to be purchased under the publicly announced plans or programs that were in effect as of March 31, 2025. In conjunction with the Merger, effective as of the Closing Date, the Company maintained the share repurchase plans authorized by the Dril-Quip board of directors. Under the prior share repurchase plans, we were authorized to repurchase up to an aggregate $200 million of our common stock. As of January 31, 2025, there were shares with an approximate dollar value of $103.5 million available under the prior share repurchase plans. As discussed above, on February 25, 2025, the Board authorized the New Share Repurchase Program which replaced the prior share repurchase plans.

The Company may repurchase shares from time to time in open market transactions, privately negotiated transactions, pursuant to accelerated share repurchase programs or otherwise in accordance with applicable federal securities laws. The shares purchased for the three months ended March 31, 2025, were purchased on the open market. The timing and amount of the repurchases will be determined by the Company's management based on their evaluation of market conditions, share price and other factors.

The share repurchase program may be suspended or discontinued at any time. During the period covered by this Quarterly Report, the Company did not sell any shares of common stock that were not registered under the Securities Act of 1933.