Nine Energy Service, Inc.

Except as set forth below, there have been no material changes to the risk factors disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025.

We recently emerged from bankruptcy, which may adversely affect our business and relationships.

It is possible that our having filed for bankruptcy and our recent emergence from the Chapter 11 Cases could adversely affect our business and relationships with vendors, suppliers, service providers, customers, employees, and other third parties.

Many risks exist as a result of the Chapter 11 Cases and our emergence, including the following:

• key suppliers, vendors, customers or other contract counterparties could, among other things, renegotiate the terms of our agreements, attempt to terminate their relationships with us, or require financial assurances from us;

• our ability to renew existing contracts and obtain new contracts on reasonably acceptable terms and conditions may be adversely affected;

• we may have difficulty obtaining acceptable and sufficient financing to execute our business plan;

• our ability to attract, motivate and/or retain key executives and employees has been and may continue to be adversely affected; and

• competitors may take business away from us, and our ability to compete for new business and attract and retain customers may be negatively impacted.

The occurrence of one or more of these events could have a material and adverse effect on our operations, financial condition, and reputation. We cannot ensure that having been subject to bankruptcy protection will not adversely affect our operations in the future.

Our actual financial results after emergence from bankruptcy may not be comparable to our projections filed with the Bankruptcy Court in the course of the Chapter 11 Cases.

In connection with the disclosure statement we filed with the Bankruptcy Court, and the hearing to consider confirmation of the Plan, we prepared projected financial information to demonstrate to the Bankruptcy Court the feasibility of the Plan and our ability to continue operations upon our emergence from bankruptcy. Those projections were prepared solely for the purpose of the bankruptcy proceedings and have not been, and will not be, updated on an ongoing basis and should not be relied upon by investors. At the time they were prepared, the projections reflected numerous assumptions concerning our anticipated future performance with respect to then prevailing and anticipated market and economic conditions that were and remain beyond our control and that may not materialize. Projections are inherently subject to substantial and numerous uncertainties and to a wide variety of significant business, economic and competitive risks and the assumptions underlying the projections or valuation estimates may prove to be wrong in material respects. Actual results may vary significantly from those contemplated by the projections. As a result, investors should not rely on these projections.

Our historical financial statements will not be comparable to the information contained in our financial statements after the application of fresh start accounting.

Upon emergence from bankruptcy, we met the criteria and were required to adopt fresh start accounting in accordance with ASC 852, which on the Plan Effective Date resulted in a new entity for financial reporting purposes, with no beginning retained earnings or deficit as of the fresh start reporting date. Fresh start accounting requires that new fair values be established for our assets, liabilities, and equity as of the Plan Effective Date. These new fair values differ materially from the recorded values on the historical balance sheets of the Predecessor. As a result of the application of fresh start accounting and the effects of the implementation of the Plan, the financial statements for the period after March 5, 2026 are not comparable with the financial statements prior to and including March 5, 2026. This will make it difficult for stockholders to assess our performance in relation to prior periods. See Note 3 – Emergence from Bankruptcy to our unaudited condensed consolidated financial statements included in Item 1 of Part I of this Quarterly Report on Form 10-Q.

Pursuant to the Plan, upon our emergence from bankruptcy, the composition of our Board of Directors (“Board”) changed significantly.

Our Board is now made up of six directors, with a new non-executive Chairperson of the Board, and three individuals who have not previously served on the Board. The new directors have different backgrounds, experiences, and perspectives from those individuals who previously served on the Board and, thus, may have different views on the issues that will determine the future of the Company. There is no guarantee that the new Board will pursue, or will pursue in the same manner, our strategic plans as our prior Board. As a result, our future strategy and plans may differ materially from those of the past.

The ability to attract and retain key personnel is critical to the success of our business and has been and may continue to be affected by our emergence from bankruptcy.

The success of our business depends on key personnel. The ability to attract and retain these key personnel may be difficult in light of our emergence from bankruptcy, the uncertainties currently facing the business and changes we may make to the organizational structure to adjust to changing circumstances. We may need to enter into retention or other arrangements that could be costly to maintain. Subsequent to our emergence, certain officers and other key personnel resigned, and it is possible that additional officers or other key personnel may resign or retire; we may not be able to replace them in a timely manner and we could experience significant declines in productivity.