National Energy Services Reunited AGM: Directors Elected, Pay Vote Passes, Grant Thornton Ratified

Key Points

• All five board nominees — Sherif Foda, Antonio Campo, Yousuf Al-Nowais, Tony Chase and Liza Pollina — were duly elected to one-year terms.
• The advisory resolution approving fiscal 2025 executive compensation passed, and shareholders voted to hold advisory votes on executive compensation every one year.
• Shareholders duly ratified Grant Thornton Audit and Accounting Limited, Dubai branch, as NESR’s independent registered public accounting firm for the fiscal year ending December 31, 2026.

National Energy Services Reunited NASDAQ: NESR held its annual general meeting of shareholders on May 7, 2026, with Chairman and Chief Executive Officer Sherif Foda presiding. The meeting covered the election of directors, advisory votes related to executive compensation, and the ratification of the company’s independent auditor.

Quorum and meeting formalities

Foda opened the meeting at 8:00 a.m. and introduced directors and executives present in person, including Antonio Campo Mejia, Lisa A. Pollina, Stefan Angeli, Leo Kaitayev, and Joseph Nawfal, as well as legal counsel Bill Nelson and Judy Little. Angeli, the company’s CFO, served as secretary of the meeting.

Foda said American Election Services, LLC had been appointed as inspector of election, with Natalie Hershton present in that capacity. He also stated that notice of the meeting was duly given and that shareholders of record as of the close of business on March 10, 2026 were entitled to vote.

Angeli reported that the company had 100,797,004 ordinary shares issued and outstanding on the record date. Based on information from the inspector of election, he said 80,156,932 ordinary shares were present immediately prior to the meeting, representing approximately 79.52% of shares entitled to vote. Foda then declared the meeting duly convened because a majority of voting shares were represented.

Items submitted to shareholders

Shareholders were asked to vote on four proposals. The board recommended votes in favor of each proposal, including a recommendation that shareholders support annual advisory votes on executive compensation.

• Proposal 1: Election of five directors to serve one-year terms. Foda listed the board’s recommended nominees as Sherif Foda, Antonio Campo, Yousuf Al-Nowais, Tony Chase, and Liza Pollina.
• Proposal 2: An advisory resolution to approve fiscal year 2025 compensation of the named executive officers, as described in the company’s proxy statement.
• Proposal 3: An advisory vote to recommend the frequency of future advisory votes on executive compensation, with choices of one, two, or three years (or abstain). The board recommended a frequency of one year.
• Proposal 4: Ratification of Grant Thornton Audit and Accounting Limited, Dubai branch, as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2026.

Preliminary voting results

After the polls were opened and then closed, Angeli delivered what he described as the “pre-preliminary” results received from the inspector of election.

According to Angeli:

• All five director nominees were duly elected.
• The advisory resolution on executive compensation passed.
• Shareholders approved the advisory resolution on frequency, recommending an advisory vote on executive compensation occur every one year.
• The appointment of Grant Thornton as independent registered public accounting firm was duly ratified.

Foda said final results would be reported in a Form 8-K to be filed promptly after the meeting.

Shareholder questions

Following adjournment of the formal meeting, the company opened the session for shareholder questions and comments, including questions received in advance and those submitted through the web portal. However, Angeli indicated there were no questions at that time, and the company then closed the meeting.

About National Energy Services Reunited NASDAQ: NESR

National Energy Services Reunited Corp NASDAQ: NESR is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company's mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR's service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.

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