Cactus, Inc.

In addition to the information set forth in this Quarterly Report, you should carefully consider the risk factors and other cautionary statements described under the heading “Item 1A. Risk Factors” included in our 2024 Annual Report, and under the heading “Part II, Item 1A. Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, and in our other filings with the SEC, which could materially affect our business, results of operations, financial condition or cash flows. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, results of operations, financial condition or cash flows. There have been no material changes in our risk factors from those described in our 2024 Annual Report, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, and our other SEC filings, except as follows:

Cost-cutting measures taken during the second and third quarters of 2025 may adversely impact our business.

During the second and third quarters of 2025 the Company implemented various cost-cutting measures, such as reductions in force and reductions in service assets, in response to an anticipated downturn in the price of oil and gas, potentially leading to a decrease in demand for our products and services. If such downturn does not materialize as anticipated or the market recovers more quickly than anticipated, such cost-cutting measures could inhibit the Company's ability to meet its customers’ needs.

Potential disruption to global supply chains due to a U.S. government shutdown could adversely impact our business and our operating results

A prolonged or recurring shutdown of the U.S. federal government could materially disrupt global supply chains and adversely affect our operations. Government shutdowns may result in delays in customs processing, regulatory approvals, and transportation logistics, particularly at ports of entry and border crossings. These disruptions can lead to increased lead times, higher costs, and reduced availability of critical materials and components sourced internationally.

While we actively monitor geopolitical and regulatory developments and maintain contingency plans, the scope and duration of a government shutdown are inherently unpredictable. As such, we cannot guarantee that our mitigation strategies will fully offset the potential adverse effects on our supply chain and business operations.