Cactus Inc

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This Annual Report on Form 10‑K (this “Annual Report”) contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). When used in this Annual Report, the words “attempt,” “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions are intended to identify forward‑looking statements, although not all forward‑looking statements contain such identifying words. These forward‑looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. When considering forward‑looking statements, you should keep in mind the risk factors and other cautionary statements described under the heading “Item 1A. Risk Factors” included in this Annual Report and other cautionary statements contained herein. These forward‑looking statements are based on management’s current belief, based on currently available information, as to the outcome and timing of future events.

Important factors that could cause actual results to differ materially from those contained in the forward‑looking statements include, but are not limited to:

•demand for our products and services, which is affected by, among other things, the price of crude oil and natural gas;

•the number of active drilling and workover rigs, pad sizes, drilling and completion efficiencies, lateral lengths, well productivity, well counts and availability of takeaway and storage capacity;

•changes in the number of drilled but uncompleted wells (“DUCs”);

•competition and capacity within the oilfield services industry;

•disparities in activity levels between private operators and large publicly-traded exploration and production (“E&P”) companies;

•the financial health of our customers and our credit risk of customer non-payment;

•availability and cost of raw materials, components and imported items;

•changes in inland and ocean shipping costs as well as transit times, particularly due to Red Sea-related disruptions;

•the impact of inflation, high interest rates and a possible recession;

•availability and cost of skilled and qualified workers and our ability to recruit and retain employees and managers;

•potential liabilities such as warranty and product liability claims arising out of the installation, use or misuse of our products;

•our financial strategy, operating cash flows, liquidity and capital required for our business, including our ability to obtain and repay debt-financing and to pay dividends;

•our ability to retain, expand and create new relationships with major customers or suppliers;

•consolidation among our customers;

•laws and regulations, including environmental regulations, that may increase our costs or our customers’ costs, limit the demand for our products and services or restrict our operations;

•disruptions in political, regulatory, economic and social conditions domestically or internationally including increasing tensions and military activity throughout the Middle East;

•the severity and duration of global pandemics or other health crises, such as the outbreak of COVID-19, and the extent of their impact on our business, including employee absenteeism;

•the impact of actions taken by the Organization of Petroleum Exporting Countries and other oil and gas producing countries (“OPEC+”) affecting the supply of oil and gas;

•the impact of planned and possible future releases from and replenishments to the Strategic Petroleum Reserve;

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•the impact of LNG regasification and storage capacity on associated natural gas demand and potential delays in approvals of new natural gas export terminals;

•the significance of future liabilities under the Tax Receivable Agreement (the “TRA”) we entered into in connection with our initial public offering;

•a failure of our information technology infrastructure or any significant breach of security;

•potential uninsured claims and litigation against us;

•currency exchange rate fluctuations associated with our international operations;

•our ability to successfully integrate FlexSteel and realize the expected benefits of the transaction in an efficient and effective manner; and

•our ability to expand internationally.

We caution you that these forward‑looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the operation of our business. These risks include but are not limited to the risks described in this Annual Report under “Item 1A. Risk Factors.” Should one or more of the risks or uncertainties described in this Annual Report occur, or should underlying assumptions prove incorrect, our actual results could differ materially from those expressed in any forward‑looking statements.

All forward‑looking statements, expressed or implied, included in this Annual Report are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward‑looking statements that we or persons acting on our behalf may issue. Except as otherwise required by applicable law, we disclaim any duty to update any forward‑looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this Annual Report.

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