Halliburton (HAL) 10-K risk factor changes: FY2024 vs FY2023

Since early [removed: 2020,] [added: 2021,] world-wide oil and natural gas supply and demand imbalances and related volatility of oil and natural gas prices (including as a result of the COVID-19 pandemic) have resulted in dramatic fluctuations in oil and natural gas markets.

The volatility continued in [removed: 2023] [added: 2024] as markets were impacted by [removed: central bank rate hikes,] macroeconomic uncertainty, non-OPEC supply growth, [removed: and renewed] [added: lack of demand recovery in China,] geopolitical unrest in the Middle [removed: East.][added: East and the Russia-Ukraine conflict.]

In the U.S., oil and natural gas production in [removed: 2023] [added: 2024] remained elevated, despite a generally declining rig count, as a result of the industry's focus on [removed: efficiencies,] [added: efficiencies and] higher service [removed: intensity, and high-quality acreage.][added: intensity.]

Lower commodity pricing and U.S. land rig counts generally contributed to softness in the market for energy products and services in North [removed: America, particularly in natural gas basins during the second half of 2023.][added: America.]

Globally, we continue to be impacted by [removed: increased] [added: extended] supply chain lead times for the supply of select raw materials.

[removed: ][added: ]

During [removed: 2023,] [added: 2024,] we generated total company revenue of [removed: $23.0] [added: $22.9] billion, [removed: a 13% increase from] [added: flat when compared to] the [removed: $20.3] [added: $23.0] billion of revenue generated in [removed: 2022,] [added: 2023,] with our Completion and Production (C&P) segment revenue [removed: increasing] [added: decreasing] by [removed: 18%] [added: 3%] and our Drilling and Evaluation (D&E) segment revenue increasing by [removed: 7%.][added: 4%.]

[removed: We reported total] [added: Total] company operating income [removed: of approximately $4.1] [added: was $3.8] billion in [removed: 2023,] [added: 2024,] compared to [removed: operating income of $2.7] [added: $4.1] billion in [removed: 2022.][added: 2023.]

[removed: Our North America revenue increased 9%] [added: Driven] in [removed: 2023 compared to 2022, despite] [added: large part by] a [removed: 4%] decrease in [added: the] average [added: North America] rig count [removed: from 2022,] [added: in 2024 as compared to 2023, our North America revenue decreased 8% in 2024,] resulting from [removed: higher] [added: lower] pressure pumping [removed: and artificial lift activity] [added: services] in [removed: North America] [added: U.S.] land, [removed: increased completion tool sales in the Gulf of Mexico,] [added: reduced wireline activity,] and [removed: improved] [added: decreased] fluid [removed: and wireline] services [removed: across] [added: in] the region.

HAL [removed: 2023] [added: 2024] FORM 10-K | 23

| [Table of [removed: Contents](#i62ba888e2d22410aa1670bccdb226cfc_7)] [added: Contents](#i62f1e411928f45f884519bb0565bccc6_7)] | | | | | | Item 7 \| Executive Overview | | |

In [removed: the first quarter of] 2021, we announced our target to achieve a 40% reduction in our Scope 1 and 2 emissions by 2035 from the 2018 baseline.

[removed: We have also applied] [added: As the energy mix transition unfolds, we seek to apply] our [removed: experience] [added: expertise] and resources in [added: growth] sectors adjacent to our traditional oilfield services space, including carbon capture, utilization, and storage, [removed: hydrogen,] and geothermal.

[added: Finally, we will continue to focus on accelerating the success of clean tech start-ups via] Halliburton [removed: Labs] [added: Labs, which also] allows us to participate in the energy mix transition at relatively low risk by investing our expertise, resources, and team without a significant outlay of [removed: capital.][added: capital while we learn where we can strategically engage new markets.]

Additionally, we published our [removed: 2022] [added: 2023] Annual and Sustainability Report (ASR) in April of [removed: 2023,] [added: 2024,] which [removed: details] [added: detailed] our strategy and progress on sustainability issues, as well as our efforts on increased environmental reporting transparency, including conducting a climate-risk scenario [removed: analysis.][added: analysis, and expect to publish our 2024 ASR in April of 2025.]

HAL [removed: 2023] [added: 2024] FORM 10-K | 24

| [Table of [removed: Contents](#i62ba888e2d22410aa1670bccdb226cfc_7)] [added: Contents](#i62f1e411928f45f884519bb0565bccc6_7)] | | | | | | Item 7 \| Liquidity and Capital Resources | | |

We had [added: $2.6 billion and] $2.3 billion of cash and equivalents as of December 31, [removed: 2023] [added: 2024] and December 31, [removed: 2022,] [added: 2023,] respectively.

Significant sources and uses of cash in [removed: 2023][added: 2024]

- Cash flows from operating activities were [removed: $3.5] [added: $3.9] billion.

Working capital, which consists of receivables, inventories, and accounts payable, collectively had a negative impact of [removed: $511] [added: $103] million, primarily due to increased [removed: receivables and inventory.][added: receivables.]

- We repurchased [removed: 22.7] [added: 30.5] million shares of our common stock for [removed: $800 million.][added: $1.0 billion.]

- We paid [removed: $576] [added: $600] million of dividends to our shareholders.

*•*We repurchased [removed: $300] [added: $100] million aggregate principal amounts of various series of our outstanding debt.

We currently expect capital spending for [removed: 2024] [added: 2025] to be approximately 6% of revenue.

We believe this level of spend will allow us to invest in our key strategic [removed: technologies,] [added: technologies and businesses,] including the construction and deployment of our Zeus electric fracturing systems in North [removed: America, our iStar Intelligent Drilling and Logging Platform,] [added: America] and [added: the international growth of] our [removed: iCruise Intelligent Rotary Steerable System.][added: artificial lift, well intervention, unconventionals, and drilling technologies.]

In [removed: 2024,] [added: 2025,] we expect to pay approximately [removed: $518] [added: $645] million for contractual purchase obligations (with another [removed: $211] [added: $143] million due through [removed: 2026), $397] [added: 2027), $392] million of interest on debt, and [removed: $391] [added: $395] million under our leasing arrangements.

Payments for interest on our debt [removed: arrangements] are expected to remain relatively flat for the foreseeable future.

See [added: Notes to Consolidated Financial Statements,] Note 6 and Note 10 [removed: to the consolidated financial statements] for additional information on expected future payments under our leasing arrangements and debt maturities.

As of December 31, [removed: 2023,] [added: 2024,] we had [removed: $268] [added: $196] million of gross unrecognized tax benefits, excluding penalties and interest, of which we estimate [removed: $235] [added: $176] million may require us to make a cash payment.

We estimate that approximately [removed: $158] [added: $112] million of the cash payment will not be settled within the next 12 months.

In [removed: January of] 2023, our Board approved a capital return framework with a goal of returning at least 50% of our annual free cash flow to shareholders through dividends and share repurchases.

We returned [removed: $1.4] [added: $1.6] billion of capital to shareholders in [removed: 2023] [added: 2024] through buybacks and dividends.

During [removed: 2023,] [added: 2024,] our quarterly dividend rate was [removed: $0.16] [added: $0.17] per common share, or approximately [removed: $144] [added: $150] million in the aggregate.

We repurchased [removed: 22.7] [added: 30.5] million shares of common stock during the year ended December 31, [removed: 2023.][added: 2024.]

Approximately [removed: $4.1] [added: $3.0] billion remained authorized for repurchases under our program as of December 31, [removed: 2023] [added: 2024] and may be used for open market and other share purchases.

During [removed: the second quarter of] 2023, we began our migration to SAP S4 which we [added: now] expect to complete [removed: by] [added: in] the [removed: end] [added: first half] of [removed: 2025.][added: 2026.]

We believe the new system will [removed: enhance visibility to our operations and] provide important efficiency benefits, cost savings, [added: enhanced visibility to our operations,] and advanced analytics that will benefit us and our customers.

We do not intend to incur additional debt in [removed: 2024,] [added: 2025,] as we believe our cash on hand and earnings from operations are sufficient to cover our obligations for the year.

HAL [removed: 2023] [added: 2024] FORM 10-K | 25

The international rig count was relatively flat in 2024, as gains in Africa and the Middle East were offset by reductions in Latin America.

These declines were partially offset by higher drilling activity in the region and improved artificial lift activity in U.S. land.

Internationally, revenue improved 6% in 2024 compared to 2023, led by Middle East/Asia, despite the international average rig count for 2024 being flat compared to 2023.

During 2024, we continued to execute on our priorities to drive down our emissions intensity.

At the same time, we support our customers in their emissions reduction efforts by continuously developing and deploying goods and services that are accretive to their goals as well as ours.

As of December 31, 2024, Halliburton Labs had 38 participants and alumni organizations.

We now estimate the total project investment to increase between $20 million and $30 million above our initial $250 million forecast, of which we have incurred $124 million through December 31, 2024.

For 2025, we expect to spend approximately $100 million on this project.

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 7 \| Liquidity and Capital Resources | | |

We have entered into credit default swaps (CDSs) with third-party financial institutions that had an aggregate notional amount outstanding as of December 31, 2024 of $739 million related to borrowings provided by the financial institutions to one of our primary customers in Mexico, of which a portion of the proceeds were then utilized by this customer to pay certain of our outstanding receivables.

Approximately $186 million of the outstanding amount of the CDSs reduces on a monthly basis over its remaining 14-month term and $203 million reduces on a monthly basis over its remaining 18-month term.

The remaining $350 million outstanding amount is expected to increase to as much as $805 million in the first quarter of 2025 and will reduce over its remaining 19-month term beginning February 2025.

We expect that many of our customers in North America will continue their strategy of operating within their cash flows and generating returns rather than prioritizing production growth.

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | Item 7 \| Business Environment and Results of Operations | | | | | |

Looking ahead to 2025 and beyond, we anticipate a rise in global oil and natural gas demand.

The International Energy Agency anticipates both oil and natural gas demand to continue growing through 2030 underscoring the continued importance of both resources in the global energy mix.

We believe that despite these changes, increased investment in existing and new sources of oil and natural gas production is needed to address the increased demand.

Furthermore, easing inflationary pressures in Organization for Economic Co-operation (OECD) countries may lead to central bank rate cuts that could sustain economic growth.

Additionally, we expect a growing global economy combined with rising living standards in developing nations will increase energy consumption.

We expect natural gas demand should increase over time by the burgeoning number of data centers, the rise of artificial intelligence, and the electrification of transportation and other sectors of the economy.

Internationally, we expect flat revenues in 2025 as compared to 2024, with growth in most markets offset by activity reduction in Mexico.

We expect our North America revenue to decrease in 2025 low to mid–single digits from 2024 levels which we believe will be driven in part by lower negotiated prices for a portion of our fleet.

| Total revenue | | | $ | 22,944 | | $ | 23,018 | | $ | (74) | | | | | — | | % |

Completion and Production revenue was $13.3 billion in 2024, a decrease of $438 million, or 3%, compared to 2023.

These results were driven by lower pressure pumping services in U.S. land.

Partially offsetting these declines were increased activity across multiple product service lines in Mexico and the Middle East, improved artificial lift activity in U.S. land, and higher cementing activity in Brazil and Norway.

These results were driven by increased drilling activity in the Western Hemisphere, higher drilling-related services in Qatar and the United Arab Emirates, as well as improved activity across multiple product service lines in Kuwait and the North Sea.

Partially offsetting these improvements were declined wireline activity in North America, decreased fluid services in Brazil, and lower activity across multiple product service lines in Asia Pacific.

These declines were partially offset by higher drilling activity in the region and improved artificial lift activity in U.S. land.

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | Item 7 \| Results of Operations in 2024 Compared to 2023 | | | | | |

Partially offsetting these improvements were lower activity across multiple product service lines in Colombia and lower completion tool sales in Brazil.

Partially offsetting these improvements were declines in activity across multiple product service lines in West Africa.

Partially offsetting these improvements were lower activity across multiple product service lines in Asia Pacific and Iraq.

*Impairments and other charges.* During 2024, we took a pre-tax charge of $116 million primarily related to severance costs, an impairment of assets held for sale, expenses related to a cybersecurity incident, a gain on a fair value adjustment of an equity investment, and other items.

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | Item 7 \| Results of Operations in 2024 Compared to 2023 | | | | | |

*Argentina Impairment on Investment.* In 2022 and 2023, we executed a series of loans to a third party and received notes that are to be repaid in U.S. dollars upon maturity or earlier if certain conditions are met.

In 2024, we recorded a loss of $38 million due to the fair value decrease in one of the notes in March 2024, resulting from the deterioration in the outlook of the debtor’s liquidity and financial projections.

This is included in “Other, net” on the consolidated statements of operations.

*Egypt Currency Impact.* In the first quarter of 2024, the Egyptian pound devalued by approximately 35% relative to the U.S. dollar.

Consequently, we incurred a loss of $34 million during the year ended December 31, 2024 due to the devaluation of the currency in Egypt.

Conversely, the international rig count showed steady growth in 2023 largely driven by national oil companies (NOCs) in the Middle East/Asia and Africa.

These increases were driven by increased demand for our products and services in all four of our geographic regions.

Internationally, revenue improved 17% in 2023 compared to 2022, primarily driven by higher activity for drilling and completions related services in Latin America, Africa, and the Middle East/Asia, which was partially offset by our exit from Russia in the third quarter of 2022.

The international average rig count for 2023 increased 11% compared to 2022.

During 2023, we continued to execute on priorities we set up to help us progress toward our 2035 emissions reduction target.

As our customers have begun to invest more in emissions reduction, we have developed or are developing solutions intended to reduce our own carbon footprint while advancing our customers’ decarbonization efforts.

As the energy mix transition unfolds, we seek to apply our expertise and products and services across different parts of the energy value chain.

Finally, we will continue to focus on accelerating the success of clean tech start-ups via Halliburton Labs.

As of December 31, 2023, Halliburton Labs had 32 participating companies and alumni.

Our sustainability efforts were recognized in 2023 as we were named to the Dow Jones Sustainability North America Index for the third consecutive year.

The DJSI assesses the sustainability performances of companies using a transparent, rules-based process based on the annual S&P Global Corporate Sustainability Assessment (CSA), among its industry peers.

In January 2024, we announced that our Board of Directors declared a dividend of $0.17 per common share for the first quarter of 2024, or approximately $152 million in the aggregate.

The migration is estimated to cost approximately $250 million, of which we have incurred $51 million through December 31, 2023.

For 2024, we expect to spend approximately $120 million.

During the fourth quarter of 2023, we entered into a credit default swap (“CDS”) with a third-party financial institution.

The notional amount of the CDS, which was $300 million at the end of January 2024, will reduce on a monthly basis over its 26-month term.

The CDS relates to a borrowing provided by the financial institution to one of our primary customers in Mexico, a portion of the proceeds of which was utilized by this customer to pay certain of our outstanding receivables.

As of the end of the year our long-term debt rating with Moody's remained A3 and short-term debt rating remained P-2, with a stable outlook.

Looking ahead, we expect oil and natural gas demand to continue to grow over the next several years as easing inflationary pressures across the Organization for Economic Co-operation and Development (OECD) countries increase the likelihood for central bank rate cuts, abating fears of a macroeconomic slowdown.

We believe long-term expansion of the global economy will continue to increase demands on all forms of energy.

We expect oil and natural gas remains a critical component of the global energy mix.

The International Energy Agency's December 2023 "Oil Market Report" forecasts 2024 global oil demand to reach 102.7 million barrels per day, an increase of 1% from 2023.

We believe that oil demand growth will be driven by resilient global economic growth and increases in transportation activity.

Although we anticipate regional differences in growth rates for 2024, we believe the Middle East/Asia regions will likely experience the greatest increases in activity, with other regions closely behind.

We expect growth in both onshore and offshore markets, as well as services related to carbon capture, utilization, and storage.

The “Short Term Energy Outlook” published by the United States Energy Information Administration (EIA) predicts that U.S. oil production will average 13.1 million barrels per day in 2024, an increase of 1% as compared to 2023.

As a result, we expect stable exploration and production activity levels in the U.S.

Completion and Production revenue was $13.7 billion in 2023, an increase of $2.1 billion, or 18%, compared to 2022.

These results were primarily driven by higher pressure pumping activity in North America land, as well as improved completion tool sales globally.

Partially offsetting these increases was decreased activity in Russia due to our exit from the country.

These results were primarily attributable to increased fluid services and drilling activity globally and higher wireline activity in the Western Hemisphere, Africa, and the Middle East/Asia.

Partially offsetting these increases were decreased activity in Russia due to our exit from the country and lower project management activity in Saudi Arabia.

Partially offsetting these increases were lower drilling-related activity and decreased well intervention services in North America land.

Partly offsetting these increases was lower project management activity in the Caribbean, Ecuador, and Colombia.

Partially offsetting these increases were the sale of our Russian operations during the third quarter of 2022, as well as decreased wireline activity, lower completion tool sales and decreased testing services in Norway, and lower drilling-related activity and decreased testing services in Algeria.

Partially offsetting these improvements were lower project management activity in Saudi Arabia and lower stimulation activity and decreased well intervention services in Kuwait.

*Impairments and other charges.* During 2023, there were no amounts recorded in impairment and other charges.

During 2022, we recognized $366 million of charges, primarily related to a $344 million write down of all our net assets in Russia as a result of our decision to sell our Russia operations due to the sanctions enacted against Russia arising from the conflict in Ukraine.

This parallel rate, which cannot be used as the basis to remeasure our net monetary assets in U.S. dollars under U.S. GAAP, was 20% higher than Argentina's official exchange rate at December 31, 2023.

*Loss on early extinguishment of debt.* During the year ended December 31, 2022, we recorded a $42 million loss on the early redemption of $600 million aggregate principal amount of our 3.8% senior notes due November 2025, which included premiums and unamortized expenses.

\- governmental regulations and other actions, [added: or proposed changes in respect thereof,] including [added: tariffs,] economic sanctions and policies of governments regarding the exploration for and production and development of their oil and natural gas reserves;

HAL [removed: 2023] [added: 2024] FORM 10-K | 9

| [Table of [removed: Contents](#i62ba888e2d22410aa1670bccdb226cfc_7)] [added: Contents](#i62f1e411928f45f884519bb0565bccc6_7)] | | | | | | Item 1(a) \| Risk Factors | | |

\- restrictions on our customers’ ability to get their produced oil and natural gas to market due to infrastructure [removed: limitations;][added: limitations or other governmental limitations on transportation of produced oil and natural gas;]

Generally, we rely on [removed: liability insurance coverage and on] contractual indemnities, releases, and limitations of liability with our customers [added: and on liability insurance coverage] to [removed: protect us from] [added: mitigate our] potential liability related to such occurrences.

\- [removed: weather-related] damage to offshore drilling rigs resulting in suspension of operations;

\- [removed: weather-related] damage to our facilities and project work sites;

HAL [removed: 2023] [added: 2024] FORM 10-K | 10

If we are not able to design, develop, and produce commercially competitive products and to implement commercially competitive services in a timely manner in response to changes in the market, customer requirements, competitive pressures, developments associated with climate change concerns and energy mix transition, and technology trends, [added: including artificial intelligence and machine learning,] our business and consolidated results of operations could be materially and adversely affected, and the value of our intellectual property may be reduced.

We rely on third-party subcontractors and equipment providers to [removed: assist] [added: help] us [removed: with the completion of] [added: complete] these [removed: types of] contracts.

Shortage of raw materials [removed: as a result] [added: because] of high levels of demand or loss of suppliers during market challenges can trigger constraints in the supply chain of those raw materials, particularly where we have a relationship with a single supplier for a particular resource.

HAL [removed: 2023] [added: 2024] FORM 10-K | 11

Moreover, many countries, including the United States, control the export, re-export, and in-country transfer of certain goods, services, and [removed: technology and] [added: technology,] impose related export recordkeeping and reporting [removed: obligations.][added: obligations, and impose trade barriers or tariffs.]

Our activities outside of the United States expose us to various legal, social, economic, and political issues [removed: which] [added: that] could have a material adverse effect on our business, consolidated results of operations and consolidated financial condition.

HAL [removed: 2023] [added: 2024] FORM 10-K | 12

Some states and some local jurisdictions have adopted ordinances that restrict or in certain cases prohibit the use of hydraulic [removed: fracturing, although many of these ordinances have been challenged and some have been overturned.][added: fracturing.]

HAL [removed: 2023] [added: 2024] FORM 10-K | 13

[removed: State,] [added: International,] national, [added: state,] and [removed: international] [added: local] governments and agencies in areas in which we conduct business continue to evaluate, and in some instances adopt, climate-related legislation and other regulatory initiatives that would restrict emissions of greenhouse gases.

HAL [removed: 2023] [added: 2024] FORM 10-K | 14

Because our business depends on the level of activity in the oil and natural gas industry, existing or future laws, [added: orders,] regulations, treaties, or international agreements related to greenhouse gases or climate change, including incentives to conserve energy or use alternative energy sources, may reduce demand for oil and natural gas and could have a negative impact on our business.

Our U.S. federal income tax filings for tax years 2016 through [removed: 2022] [added: 2023] are currently under review or remain open for review by the IRS.

As of December 31, [removed: 2023,] [added: 2024,] the primary unresolved issue for the IRS audit for 2016 relates to the classification of the $3.5 billion ordinary deduction that we claimed for the termination fee we paid to Baker Hughes in the second quarter of 2016 for which we received a Notice of Proposed Adjustment (NOPA) from the IRS on September 28, 2023.

- result in the deprivation of contract rights; [removed: and]

HAL [removed: 2023] [added: 2024] FORM 10-K | 15

We routinely monitor our systems for cybersecurity threats and have processes in place [removed: to detect] [added: aimed at detecting] and [removed: remediate vulnerabilities.][added: remediating vulnerabilities and incidents.]

If our systems, or our customers’ or suppliers’ systems, for protecting against cybersecurity incidents prove not to be sufficient, we could be adversely affected by, among other things: loss of or damage to intellectual property, proprietary or confidential information, or customer, supplier, or employee data; interruption of our business operations; [added: diversion of management or work force attention;] and increased costs required to prevent, respond to, or mitigate cybersecurity incidents.

In addition, laws and regulations governing cybersecurity [removed: incidents,] [added: resiliency, governance, and incidents;] data [removed: privacy,] [added: privacy;] and the unauthorized disclosure of confidential or protected information pose increasingly complex compliance challenges, and failure to comply with these laws could result in penalties and legal liability.

HAL [removed: 2023] [added: 2024] FORM 10-K | 16

We may not meet this goal if we use our available cash to satisfy other priorities, if we have insufficient funds available to pay dividends and to repurchase shares, [added: if we pause our repurchases due to unforeseen events,] or if our Board of Directors determines to change or discontinue dividend payments or share repurchases.

We may accumulate cash in those geographies, but we may be limited in our ability to convert our profits into [removed: United States] [added: U.S.] dollars or to repatriate the profits from those countries.

[removed: During 2023,] [added: For example,] we [added: have] experienced these conditions in Argentina and [added: other countries and] though we have [removed: been able to develop] [added: utilized] processes to repatriate cash when we believe it is appropriate to do so, we have incurred losses from devaluation of the local currency and from repatriating cash.

We expect restrictions on currency repatriation to continue in [removed: Argentina] [added: certain countries] during [removed: 2024.][added: 2025.]

\- any acquisitions we attempt [removed: will] [added: would] be completed on the terms announced, or at all;

HAL [removed: 2023] [added: 2024] FORM 10-K | 17

HAL [removed: 2023] [added: 2024] FORM 10-K | 18

| [Table of [removed: Contents](#i62ba888e2d22410aa1670bccdb226cfc_7)] [added: Contents](#i62f1e411928f45f884519bb0565bccc6_7)] | | | | | | Item 1(b) \| Unresolved Staff Comments | | |

We engage our internal [removed: IT] [added: information technology (IT)] audit group to audit our information security programs, and the results are reported to our executive management and the Audit Committee of our Board of Directors.

We also engage third party firms to identify, assess, and manage cybersecurity risks in alignment with cybersecurity standards, [removed: including] [added: such as] the National Institute of Standards and Technology (NIST) Cyber Security Framework, NIST 800-53, NIST 800-82, and International Electrotechnical Commission 62443.

In managing material risks from cybersecurity threats, we require that a security and technical architecture review is conducted for all new software and applications, and for all changes to the underlying information technology [removed: (IT)] infrastructure that manages, processes, stores, or transmits our data or data of our customers, vendors, suppliers, joint ventures, or employees.

Any deviations from our [removed: IT] [added: information] security policies and standards are assessed by our [removed: IT] [added: Information] Security Governance team.

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1(a) \| Risk Factors | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1(a) \| Risk Factors | | |

Changes in U.S. foreign trade policies, including as a result of the new presidential administration, could lead to the imposition of additional trade barriers and tariffs on us in foreign jurisdictions.

We cannot predict the full extent of new, extended, or changed trade policies, including tariffs, that may be made by the current or a future presidential administration or Congress, including whether existing tariff policies will be maintained or modified or if changes in the U.S. trade policy result in reactions from the U.S. trading partners, including adopting responsive trade policies making it more difficult or costly for us to export or import our products from countries where we currently purchase or sell products.

Such changes in U.S. trade policy or in laws and policies governing foreign trade, and any resulting negative sentiments towards the United States as a result of such changes, could materially and adversely affect our business, financial condition, results of operations and liquidity.

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1(a) \| Risk Factors | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1(a) \| Risk Factors | | |

We closely follow developments in this area, including changes in the regulatory landscape in the United States at both the federal and state levels and in the international markets in which we operate.

We cannot predict, however, how or when such changes may be effected or ultimately impact our business.

For example, in the United States, presidents have certain powers to issue executive orders that can have the effect of the enactment of new laws.

In January 2025, President Biden issued a Memorandum of Withdrawal that could have had the effect of preventing future leasing by the federal government (and therefore oil and gas exploration) of the lands underlying federal waters offshore the U.S. East Coast, the eastern Gulf of Mexico, the Pacific Ocean off the coasts of Washington, Oregon, and California, and additional portions of the Northern Bering Sea in Alaska.

Also in January 2025, President Trump in turn overturned President Biden’s Memorandum of Withdrawal and issued a series of executive orders that signal a shift in the United States’ energy and climate change policies.

Future administrations may, however, pursue executive orders similar to, or more restrictive than, those put in place by predecessor administrations.

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1(a) \| Risk Factors | | |

In 2023, we initiated the IRS administrative appeals process, which is ongoing.

- impose tariffs or otherwise limit the transport of goods and equipment into or out of that country; and

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1(a) \| Risk Factors | | |

Nevertheless, we have experienced cybersecurity incidents and attempted breaches in the past, one of which resulted in an unauthorized third party gaining access to certain of our systems and exfiltrating information from those systems, which we previously disclosed in Form 8-Ks we filed with the SEC on August 23, 2024 and September 3, 2024.

The incident caused disruptions and limitation of access to portions of our business applications supporting aspects of our operations and corporate functions, required us to incur significant costs, and required a significant amount of attention from management and our work force.

Related to this incident, we face risks of unknown impacts or new events, regulatory actions, or potential litigation, which could affect our business, reputation, consolidated results of operations, or consolidated financial condition.

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1(a) \| Risk Factors | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1(a) \| Risk Factors | | |

The CISO and CIO will assess situational information and business impact to finalize the severity rating.

Our CISO, who reports directly to our Executive Vice President of Administration and Chief Human Resources Officer, has over 20 years of technology and cybersecurity experience across global enterprises, risk advisory, and incident response firms.

We have experienced cybersecurity incidents and attempted breaches in the past, one of which resulted in an unauthorized third party gaining access to certain of our systems and exfiltrating information from those systems, which we determined was a material event as previously disclosed in a Form 8-K we filed with the SEC on September 3, 2024.

The incident caused disruptions and limitation of access to portions of our business applications supporting aspects of our operations and corporate functions, required us to incur significant costs, and required a significant amount of attention from management and our work force.

Related to this incident, we face risks of unknown impacts or new events, regulatory actions, or potential litigation, which could affect our business, reputation, or consolidated financial condition.

For example, oil and natural gas exploration and production may decline as a result of environmental requirements, including land use policies responsive to environmental concerns.

For example, The President of the United States has issued Executive Orders and other directives seeking to adopt new regulations and policies to address climate change and to suspend, revise, or rescind prior agency actions that the administration identified as conflicting with its climate policies.

These include Executive Orders requiring a review of current U.S. federal lands leasing and permitting practices, as well as a temporary halt of new leasing of U.S. federal lands and offshore waters available for oil and gas exploration.

Also, in January 2024, the President of the United States paused approvals for pending and future applications to export liquified natural gas from new projects.

During this pause, the Department of Energy will conduct a review of the economic and environmental impacts of projects seeking approval to export LNG to Europe and Asia.

Changes and uncertainties resulting from proposed regulations and its actions with respect to leasing and other actions could have a negative effect on exploration and production of oil and natural gas and, consequently, negatively impact the demand for our products and services.

In February 2021, the United States formally re-joined the Paris Agreement.

The Paris Agreement requires countries to review and “represent a progression” in their intended nationally determined contributions, which set greenhouse gases emission reduction goals, every five years.

The United States Environmental Protection Agency has proposed strict new methane emission regulations for certain oil and gas facilities.

The Inflation Reduction Act of 2022 establishes a charge on methane emissions above certain limits from the same facilities.

Though we are closely following developments in this area and changes in the regulatory landscape in the United States, we cannot predict how or when those changes may ultimately impact our business.

Likewise, such restrictions may result in additional compliance obligations with respect to the release, capture, sequestration, and use of carbon dioxide.

In December 2023, we initiated the IRS administrative appeals process and we do not expect a final resolution of the NOPA in the next 12 months.

Nevertheless, we have experienced occasional cybersecurity incidents and attempted breaches in the past, including attacks resulting from phishing emails and malware infections.

We responded to and mitigated the impact of these attacks.

No unauthorized access to material financial, technical, or customer data occurred as a result of cybersecurity attacks against us and none of the attacks mentioned above had a material adverse effect on our business, operations, reputation, or consolidated results of operations or consolidated financial condition.

This plan requires an Incident Manager to determine whether a cybersecurity incident has occurred and to communicate such findings to the Incident Response Team.

Cyber Incident Response Leadership, which is comprised of the CIO, CISO, and Incident Manager, assesses situational information and business impact to confirm the preliminary severity rating assessment.

Our CISO has served in that role since 2021.

Since joining Halliburton in 2010, the CISO has held various leadership roles in IT, including architecture, infrastructure management and security, and enterprise platform management.

No unauthorized access to customer, vendor, supplier, joint venture, employee or our data occurred as a result of cybersecurity incidents against us that has had a material adverse effect on our business, operations, or consolidated financial condition.

Legal Proceedings is included in [removed: Note 11] [added: Notes] to [removed: the consolidated financial statements.][added: Consolidated Financial Statements, Note 11.]

For the fiscal year ended December 31, [removed: 2023][added: 2024]

The aggregate market value of Halliburton Company Common Stock held by non-affiliates on June 30, [removed: 2023,] [added: 2024,] determined using the per share closing price on the New York Stock Exchange Composite tape of [removed: $32.99] [added: $33.78] on that date, was approximately [removed: $22.5] [added: $22.2] billion.

As of [removed: January 30, 2024,] [added: February 5, 2025,] there were [removed: 890,101,601] [added: 868,091,623] shares of Halliburton Company Common Stock, $2.50 par value per share, outstanding.

Portions of the Halliburton Company Proxy Statement for our [removed: 2024] [added: 2025] Annual Meeting of Shareholders (File No. 001-03492) are incorporated by reference into Part III of this report.

For the Year Ended December 31, [removed: 2023][added: 2024]

| [Item [removed: 1.](#i62ba888e2d22410aa1670bccdb226cfc_13)] [added: 1.](#i62f1e411928f45f884519bb0565bccc6_13)] | | | [removed: [Business](#i62ba888e2d22410aa1670bccdb226cfc_13)] [added: [Business](#i62f1e411928f45f884519bb0565bccc6_13)] | | | [removed: [1](#i62ba888e2d22410aa1670bccdb226cfc_13)] [added: [1](#i62f1e411928f45f884519bb0565bccc6_13)] | | |

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| | | | [Executive [removed: Overview](#i62ba888e2d22410aa1670bccdb226cfc_43)] [added: Overview](#i62f1e411928f45f884519bb0565bccc6_46)] | | | [removed: [23](#i62ba888e2d22410aa1670bccdb226cfc_43)] [added: [23](#i62f1e411928f45f884519bb0565bccc6_46)] | | |

| | | | [Liquidity and Capital [removed: Resources](#i62ba888e2d22410aa1670bccdb226cfc_46)] [added: Resources](#i62f1e411928f45f884519bb0565bccc6_49)] | | | [removed: [25](#i62ba888e2d22410aa1670bccdb226cfc_46)] [added: [25](#i62f1e411928f45f884519bb0565bccc6_49)] | | |

| | | | [Business Environment and Results of [removed: Operations](#i62ba888e2d22410aa1670bccdb226cfc_49)] [added: Operations](#i62f1e411928f45f884519bb0565bccc6_52)] | | | [removed: [27](#i62ba888e2d22410aa1670bccdb226cfc_49)] [added: [27](#i62f1e411928f45f884519bb0565bccc6_52)] | | |

| | | | [Results of Operations in [removed: 2023] [added: 2024] Compared to [removed: 2022](#i62ba888e2d22410aa1670bccdb226cfc_52)] [added: 2023](#i62f1e411928f45f884519bb0565bccc6_55)] | | | [removed: [29](#i62ba888e2d22410aa1670bccdb226cfc_52)] [added: [29](#i62f1e411928f45f884519bb0565bccc6_55)] | | |

| | | | [Critical Accounting [removed: Estimates](#i62ba888e2d22410aa1670bccdb226cfc_58)] [added: Estimates](#i62f1e411928f45f884519bb0565bccc6_61)] | | | [removed: [33](#i62ba888e2d22410aa1670bccdb226cfc_58)] [added: [34](#i62f1e411928f45f884519bb0565bccc6_61)] | | |

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| | | | [Environmental [removed: Matters](#i62ba888e2d22410aa1670bccdb226cfc_64)] [added: Matters](#i62f1e411928f45f884519bb0565bccc6_67)] | | | [removed: [36](#i62ba888e2d22410aa1670bccdb226cfc_64)] [added: [37](#i62f1e411928f45f884519bb0565bccc6_67)] | | |

| | | | [Forward-Looking [removed: Information](#i62ba888e2d22410aa1670bccdb226cfc_67)] [added: Information](#i62f1e411928f45f884519bb0565bccc6_70)] | | | [removed: [36](#i62ba888e2d22410aa1670bccdb226cfc_67)] [added: [37](#i62f1e411928f45f884519bb0565bccc6_70)] | | |

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| [Item [removed: 16.](#i62ba888e2d22410aa1670bccdb226cfc_202)] [added: 16.](#i62f1e411928f45f884519bb0565bccc6_211)] | | | [Form 10-K [removed: Summary](#i62ba888e2d22410aa1670bccdb226cfc_202)] [added: Summary](#i62f1e411928f45f884519bb0565bccc6_211)] | | | [removed: [77](#i62ba888e2d22410aa1670bccdb226cfc_202)] [added: [82](#i62f1e411928f45f884519bb0565bccc6_211)] | | |

| [Table of [removed: Contents](#i62ba888e2d22410aa1670bccdb226cfc_7)] [added: Contents](#i62f1e411928f45f884519bb0565bccc6_7)] | | | | | | Item 1 \| Business | | |

With [removed: approximately] [added: over] 48,000 employees, representing [removed: over 130] [added: 145] nationalities in more than 70 countries, we help our customers maximize asset value throughout the lifecycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset.

| [Item 1(c).](#i62f1e411928f45f884519bb0565bccc6_22) | | | [Cybersecurity](#i62f1e411928f45f884519bb0565bccc6_22) | | | [19](#i62f1e411928f45f884519bb0565bccc6_19) | | |

| | | | [Results of Operations in 202](#i62f1e411928f45f884519bb0565bccc6_58)[3](#i62f1e411928f45f884519bb0565bccc6_58) [Compared to 202](#i62f1e411928f45f884519bb0565bccc6_58)[2](#i62f1e411928f45f884519bb0565bccc6_58) | | | [33](#i62f1e411928f45f884519bb0565bccc6_58) | | |

| [SIGNATURES](#i62f1e411928f45f884519bb0565bccc6_214) | | | | | | [83](#i62f1e411928f45f884519bb0565bccc6_214) | | |

2024 Highlights

\- *Financial*: Our total revenue was flat in 2024 as compared to 2023.

Our International revenue increased 6% and our North America revenue decreased 8% in 2024 compared to 2023.

\- *Digital*: We incorporated next-generation digital and automation technologies in certain of our processes to maximize value and improve efficiency.

\- *Sustainability and energy mix transition:* We expanded Halliburton Labs, our early-stage company accelerator, to a total of 38 participant and alumni organizations as we work to reach the future of energy, faster.

2025 Focus

\- *International*: Increase international growth in directional drilling, unconventionals, well intervention, and artificial lift businesses.

\- *North America*: Maximize value by, among other things, utilizing our Zeus electric fracturing platform and our iCruise rotary steerable systems.

\- *Capital efficiency*: Maintain our capital expenditures at approximately 6% of revenue while utilizing technology and targeted process improvements to enhance utilization of existing capital.

\- *Advance a Sustainable Energy Future:* Continue to develop technologies and solutions to help lower our customers’ and our emissions intensity, participate in carbon capture, utilization, and storage, and geothermal projects globally, and support Halliburton Labs early–stage company participants.

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1 \| Business | | |

During the third quarter of 2024, we made a strategic decision to market for sale a portion of our chemical business.

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1 \| Business | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1 \| Business | | |

In 2024, we hired about 6,800 new employees and experienced relatively low voluntary turnover of 8% despite a tight labor market.

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1 \| Business | | |

Halliburton is committed to providing competitive benefit programs.

Our benefit packages include comprehensive medical coverage, retirement plans, paid time off, emergency childcare, and third-party discounts.

Our Global Employee Assistance Program (EAP) provides mental health and wellness related training and education for employees.

In 2024, our monthly Lessons for Life Web series covered topics such as parenting in the digital age and combating burnout.

We also conducted mental health awareness campaigns tailored to address employee needs in different geographies.

In 2024, the operational discipline of our Halliburton Management System (HMS) and our focus on execution enabled us to outperform our industry group HSE indicators.

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1 \| Business | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1 \| Business | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 1 \| Business | | |

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| [Item 1(c).](#i62ba888e2d22410aa1670bccdb226cfc_1974) | | | [Cyber](#i62ba888e2d22410aa1670bccdb226cfc_1974)[s](#i62ba888e2d22410aa1670bccdb226cfc_1974)[ecurity](#i62ba888e2d22410aa1670bccdb226cfc_1974) | | | [19](#i62ba888e2d22410aa1670bccdb226cfc_19) | | |

| | | | [Results of Operations in 2022 Compared to 2021](#i62ba888e2d22410aa1670bccdb226cfc_55) | | | [32](#i62ba888e2d22410aa1670bccdb226cfc_55) | | |

| [SIGNATURES](#i62ba888e2d22410aa1670bccdb226cfc_205) | | | | | | [78](#i62ba888e2d22410aa1670bccdb226cfc_205) | | |

2023 Highlights

\- *Financial*: Our total revenue increased 13% in 2023 as compared to 2022.

Our International revenue increased 17% and our North America revenue increased 9% in 2023 compared to 2022, with improved margins driven by increased activity and pricing gains.

\- *Digital*: Our accelerated deployment and integration of digital and automation technologies created technical differentiation in the market and contributed to our higher margins and increased internal efficiencies.

\- *Sustainability and energy mix transition*:

- Named to the Dow Jones Sustainability North America Index (DJSI), the third consecutive year.

DJSI assesses the sustainability performance of companies using a transparent, rules-based process based on the annual S&P Global Corporate Sustainability Assessment;

- Added eleven new participating companies to Halliburton Labs, our clean energy accelerator; and

- Provided services in carbon capture and storage.

2024 Focus

\- *International*: Allocate our capital to the highest return opportunities and increase our international growth in both onshore and offshore markets.

\- *North America*: Maximize value by, among other things, utilizing our premium low-emissions Zeus electric fracturing systems, as well as automated and intelligent fracturing technologies, to drive higher margins through better pricing and increased efficiency.

\- *Capital efficiency*: Maintain our capital expenditures at approximately 6% of revenue while focusing on technological advancements and process changes that reduce our manufacturing and maintenance costs and improve how we move equipment and respond to market opportunities.

\- *Sustainability and energy mix transition*: Continue to:

- Leverage the participants in Halliburton Labs to gain insight into developing value chains in the energy mix transition;

- Develop and deploy solutions to help lower the carbon intensity of our customers' businesses;

- Develop technologies and solutions to lower our emissions; and

- Continue to participate in carbon capture, utilization, and storage, hydrogen, and geothermal projects globally.

In 2023, we hired about 8,700 new employees and were able to rehire more than 2,000 former employees despite a tight labor market.

We have found that hiring former employees allows us to add needed personnel who are able to apply their prior experience at the Company to quickly re-acclimate and add value to their teams.

In 2023, we saw a 14% increase in female candidates on leadership succession charts compared to 2022.

In 2023, approximately 24% of the participants in these programs were female and 53 different nationalities were represented.

We provide our employees around the world with benefits that address the diverse needs of our workforce and their families.

We evaluate our benefits package to identify opportunities for improvement and to remain competitive.

In 2023, we enhanced healthcare benefits and expenditure planning for United States employees with refreshed medical plans, enhancements to our surrogacy offerings, legal plans, pharmacy advocacy programs, and a global business travel accident program.

In 2023, we continued to expand our Employee Assistance Program (EAP) and now all Halliburton employees and their families around the globe have access to EAP and mental health support services in their local markets.

In 2023, we focused on risk management and leadership visits.

| | | | Partner, Baker Botts L.L.P., January 1999 to December 2019 | | | | | |

| | | | Vice President and Corporate Controller of Halliburton Company, January 2015 to December 2019 | | | | | |

| | | | Myrtle L. Jones (Age 64) | | | Senior Vice President, Tax of Halliburton Company, since March 2013 | | |

| | | | Senior Vice President, Northern U.S. Region of Halliburton Company, August 2018 to January 2019 | | | | | |

| | | | Senior Vice President, Eurasia, Europe, and Sub-Saharan Africa Region of Halliburton Company, January 2018 to December 2019 | | | | | |

| | | | Milton Carroll | | | Former Executive Chairman of the Board of CenterPoint Energy, Inc. | | |

HAL [removed: 2023] [added: 2024] FORM 10-K | 20

| [Table of [removed: Contents](#i62ba888e2d22410aa1670bccdb226cfc_7)] [added: Contents](#i62f1e411928f45f884519bb0565bccc6_7)] | | | Item 5 \| Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | | | | | |

The following graph and table compare total shareholder return on our common stock for the five-year period ended December 31, [removed: 2023,] [added: 2024,] with the Philadelphia Oil Service Index (OSX) and the Standard & Poor’s 500 ® Index over the same period.

This comparison assumes the investment of $100 on December 31, [removed: 2018] [added: 2019] and the reinvestment of all dividends.

[removed: ][added: ]

| | | | December [removed: 31] [added: 31,] | | | | | | | | | | | | | | | | | |

| | | | [removed: 2018 | | |] 2019 | | | 2020 | | | 2021 | | | 2022 | | | 2023 | | | [added: 2024 | | |]

HAL [removed: 2023] [added: 2024] FORM 10-K | 21

| [Table of [removed: Contents](#i62ba888e2d22410aa1670bccdb226cfc_7)] [added: Contents](#i62f1e411928f45f884519bb0565bccc6_7)] | | | Item 5 \| Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | | | | | |

The following table is a summary of repurchases of our common stock during the three-month period ended December 31, [removed: 2023.][added: 2024.]

| (a) | | | Of the [removed: 6,793,940] [added: 10,616,935] shares purchased during the three-month period ended December 31, [removed: 2023, 205,442] [added: 2024, 172,777] were acquired from employees in connection with the settlement of income tax and related benefit withholding obligations arising from vesting in restricted stock grants. These shares were not part of a publicly announced program to purchase common stock. | | | | | | | | | | | | | | |

| (b) | | | Our Board of Directors has authorized a plan to repurchase a specified dollar amount of our common stock from time to time. Approximately [removed: $4.1] [added: $3.0] billion remained authorized for repurchases as of December 31, [removed: 2023.] [added: 2024.] From the inception of this program in February 2006 through December 31, [removed: 2023,] [added: 2024,] we repurchased approximately [removed: 253] [added: 284] million shares of our common stock for a total cost of approximately [removed: $10.1] [added: $11.1] billion. | | | | | | | | | | | | | | |

| Halliburton | | | $ | 100.00 | | $ | 78.80 | | $ | 96.13 | | $ | 167.76 | | $ | 156.92 | | $ | 120.56 | |

| Philadelphia Oil Service Index (OSX) | | | 100.00 | | | 57.92 | | | 69.94 | | | 112.94 | | | 115.10 | | | 101.68 | | |

| Standard & Poor’s 500 ® Index | | | 100.00 | | | 118.40 | | | 152.39 | | | 124.79 | | | 157.59 | | | 197.02 | | |

At February 5, 2025, we had 9,323 shareholders of record.

| October 1 - 31 | | | | | | 49,603 | | | $29.11 | | | — | | | $3,354,511,858 | | |

| November 1 - 30 | | | | | | 6,747,748 | | | $30.41 | | | 6,724,874 | | | $3,150,015,063 | | |

| December 1 - 31 | | | | | | 3,819,584 | | | $27.12 | | | 3,719,284 | | | $3,049,511,877 | | |

| Total | | | | | | 10,616,935 | | | $29.22 | | | 10,444,158 | | | | | |

| Halliburton | | | $ | 100.00 | | $ | 95.05 | | $ | 74.91 | | $ | 91.38 | | $ | 159.46 | | $ | 149.16 | |

| Philadelphia Oil Service Index (OSX) | | | 100.00 | | | 99.45 | | | 57.61 | | | 69.55 | | | 112.32 | | | 114.47 | | |

| Standard & Poor’s 500 ® Index | | | 100.00 | | | 131.49 | | | 155.68 | | | 200.37 | | | 164.08 | | | 207.21 | | |

At January 30, 2024, we had 9,706 shareholders of record.

| October 1 - 31 | | | | | | 1,474,942 | | | $40.61 | | | 1,431,000 | | | $4,241,905,197 | | |

| November 1 - 30 | | | | | | 2,807,954 | | | $38.30 | | | 2,783,140 | | | $4,135,330,879 | | |

| December 1 - 31 | | | | | | 2,511,044 | | | $36.00 | | | 2,374,358 | | | $4,050,012,812 | | |

| Total | | | | | | 6,793,940 | | | $37.96 | | | 6,588,498 | | | | | |

HAL [removed: 2023] [added: 2024] FORM 10-K | 22

| [Table of [removed: Contents](#i62ba888e2d22410aa1670bccdb226cfc_7)] [added: Contents](#i62f1e411928f45f884519bb0565bccc6_7)] | | | | | | Item 7 \| Executive Overview | | |

| [Management’s Report on Internal Control Over Financial [removed: Reporting](#i62ba888e2d22410aa1670bccdb226cfc_76)] [added: Reporting](#i62f1e411928f45f884519bb0565bccc6_79)] | | | [removed: [39](#i62ba888e2d22410aa1670bccdb226cfc_76)] [added: [40](#i62f1e411928f45f884519bb0565bccc6_79)] | | | | | |

| [Reports of Independent Registered Public Accounting [removed: Firm](#i62ba888e2d22410aa1670bccdb226cfc_79)] [added: Firm](#i62f1e411928f45f884519bb0565bccc6_82)] | | | [removed: [40](#i62ba888e2d22410aa1670bccdb226cfc_79)] [added: [41](#i62f1e411928f45f884519bb0565bccc6_82)] | | | | | |

| [Consolidated Statements of Operations for the years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021](#i62ba888e2d22410aa1670bccdb226cfc_82)] [added: 2022](#i62f1e411928f45f884519bb0565bccc6_85)] | | | [removed: [43](#i62ba888e2d22410aa1670bccdb226cfc_82)] [added: [44](#i62f1e411928f45f884519bb0565bccc6_85)] | | | | | |

| [Consolidated Statements of Comprehensive [removed: Income](#i62ba888e2d22410aa1670bccdb226cfc_85) [for] [added: Income for] the years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021](#i62ba888e2d22410aa1670bccdb226cfc_85)] [added: 2022](#i62f1e411928f45f884519bb0565bccc6_88)] | | | [removed: [44](#i62ba888e2d22410aa1670bccdb226cfc_85)] [added: [45](#i62f1e411928f45f884519bb0565bccc6_88)] | | | | | |

| [Consolidated Balance Sheets at December 31, [removed: 2023] [added: 2024] and [removed: 2022](#i62ba888e2d22410aa1670bccdb226cfc_88)] [added: 2023](#i62f1e411928f45f884519bb0565bccc6_91)] | | | [removed: [45](#i62ba888e2d22410aa1670bccdb226cfc_88)] [added: [46](#i62f1e411928f45f884519bb0565bccc6_91)] | | | | | |

| [Consolidated Statements of Cash Flows for the years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021](#i62ba888e2d22410aa1670bccdb226cfc_91)] [added: 2022](#i62f1e411928f45f884519bb0565bccc6_94)] | | | [removed: [46](#i62ba888e2d22410aa1670bccdb226cfc_91)] [added: [47](#i62f1e411928f45f884519bb0565bccc6_94)] | | | | | |

| [Consolidated Statements of Shareholders’ Equity for the years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021](#i62ba888e2d22410aa1670bccdb226cfc_94)] [added: 2022](#i62f1e411928f45f884519bb0565bccc6_97)] | | | [removed: [47](#i62ba888e2d22410aa1670bccdb226cfc_94)] [added: [48](#i62f1e411928f45f884519bb0565bccc6_97)] | | | | | |

| [Note 1. Description of Company and Significant Accounting [removed: Policies](#i62ba888e2d22410aa1670bccdb226cfc_100)] [added: Policies](#i62f1e411928f45f884519bb0565bccc6_103)] | | | [removed: [48](#i62ba888e2d22410aa1670bccdb226cfc_100)] [added: [49](#i62f1e411928f45f884519bb0565bccc6_103)] | | | | | |

| [Note 2. Impairments and Other [removed: Charges](#i62ba888e2d22410aa1670bccdb226cfc_103)] [added: Charges](#i62f1e411928f45f884519bb0565bccc6_106)] | | | [removed: [51](#i62ba888e2d22410aa1670bccdb226cfc_103)] [added: [52](#i62f1e411928f45f884519bb0565bccc6_106)] | | | | | |

| [Note 3. Business Segment and Geographic [removed: Information](#i62ba888e2d22410aa1670bccdb226cfc_106)] [added: Information](#i62f1e411928f45f884519bb0565bccc6_109)] | | | [removed: [51](#i62ba888e2d22410aa1670bccdb226cfc_106)] [added: [52](#i62f1e411928f45f884519bb0565bccc6_109)] | | | | | |

| [removed: [Note](#i62ba888e2d22410aa1670bccdb226cfc_130) [9](#i62ba888e2d22410aa1670bccdb226cfc_130)[.] [added: [Note 9.] Property, Plant and [removed: Equipment](#i62ba888e2d22410aa1670bccdb226cfc_130)] [added: Equipment](#i62f1e411928f45f884519bb0565bccc6_139)] | | | [removed: [57](#i62ba888e2d22410aa1670bccdb226cfc_130)] [added: [59](#i62f1e411928f45f884519bb0565bccc6_139)] | | | | | |

| [Note [removed: 1](#i62ba888e2d22410aa1670bccdb226cfc_142)[1](#i62ba888e2d22410aa1670bccdb226cfc_142)[.] [added: 11.] Commitments and [removed: Contingencies](#i62ba888e2d22410aa1670bccdb226cfc_142)] [added: Contingencies](#i62f1e411928f45f884519bb0565bccc6_151)] | | | [removed: [59](#i62ba888e2d22410aa1670bccdb226cfc_142)] [added: [61](#i62f1e411928f45f884519bb0565bccc6_151)] | | | | | |

| [Note [removed: 1](#i62ba888e2d22410aa1670bccdb226cfc_151)[4](#i62ba888e2d22410aa1670bccdb226cfc_151)[.] [added: 14.] Stock-based [removed: Compensation](#i62ba888e2d22410aa1670bccdb226cfc_151)] [added: Compensation](#i62f1e411928f45f884519bb0565bccc6_160)] | | | [removed: [63](#i62ba888e2d22410aa1670bccdb226cfc_151)] [added: [66](#i62f1e411928f45f884519bb0565bccc6_160)] | | | | | |

| [Note [removed: 1](#i62ba888e2d22410aa1670bccdb226cfc_157)[5](#i62ba888e2d22410aa1670bccdb226cfc_157)[.] [added: 15.] Income per [removed: Share](#i62ba888e2d22410aa1670bccdb226cfc_157)] [added: Share](#i62f1e411928f45f884519bb0565bccc6_166)] | | | [removed: [65](#i62ba888e2d22410aa1670bccdb226cfc_157)] [added: [68](#i62f1e411928f45f884519bb0565bccc6_166)] | | | | | |

| [Note [removed: 1](#i62ba888e2d22410aa1670bccdb226cfc_160)[6](#i62ba888e2d22410aa1670bccdb226cfc_160)[.] [added: 16.] Financial Instruments and Risk [removed: Management](#i62ba888e2d22410aa1670bccdb226cfc_160)] [added: Management](#i62f1e411928f45f884519bb0565bccc6_169)] | | | [removed: [66](#i62ba888e2d22410aa1670bccdb226cfc_160)] [added: [68](#i62f1e411928f45f884519bb0565bccc6_169)] | | | | | |

| [Note [removed: 1](#i62ba888e2d22410aa1670bccdb226cfc_175)[8](#i62ba888e2d22410aa1670bccdb226cfc_175)[.] [added: 18.] New Accounting [removed: Pronouncements](#i62ba888e2d22410aa1670bccdb226cfc_175)] [added: Pronouncements](#i62f1e411928f45f884519bb0565bccc6_184)] | | | [removed: [69](#i62ba888e2d22410aa1670bccdb226cfc_175)] [added: [73](#i62f1e411928f45f884519bb0565bccc6_184)] | | | | | |

HAL [removed: 2023] [added: 2024] FORM 10-K | [removed: 38][added: 39]

| [Table of [removed: Contents](#i62ba888e2d22410aa1670bccdb226cfc_73)] [added: Contents](#i62f1e411928f45f884519bb0565bccc6_76)] | | | | | | | | |

Under the supervision and with the participation of our management, including our chief executive officer and chief financial officer, we conducted an evaluation to assess the effectiveness of our internal control over financial reporting as of December 31, [removed: 2023] [added: 2024] based upon criteria set forth in the *Internal Control - Integrated Framework (2013)* issued by the Committee of Sponsoring Organizations of the Treadway Commission.

Based on our assessment, we believe that, as of December 31, [removed: 2023,] [added: 2024,] our internal control over financial reporting is effective.

The effectiveness of Halliburton’s internal control over financial reporting as of December 31, [removed: 2023] [added: 2024] has been audited by KPMG LLP, an independent registered public accounting firm, as stated in their report that is included herein.

HAL [removed: 2023] [added: 2024] FORM 10-K | [removed: 39][added: 40]

We have audited the accompanying consolidated balance sheets of Halliburton Company and subsidiaries (the Company) as of December 31, [removed: 2023] [added: 2024] and [removed: 2022,] [added: 2023,] the related consolidated statements of operations, comprehensive income, cash flows and [removed: shareholders'] [added: shareholders’] equity for each of the years in the three-year period ended December 31, [removed: 2023,] [added: 2024,] and the related notes (collectively, the consolidated financial statements).

In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, [removed: 2023] [added: 2024] and [removed: 2022,] [added: 2023,] and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, [removed: 2023,] [added: 2024,] in conformity with U.S. generally accepted accounting principles.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of December 31, [removed: 2023,] [added: 2024,] based on criteria established in *Internal Control - Integrated Framework (2013)* issued by the Committee of Sponsoring Organizations of the Treadway Commission, and our report dated February [removed: 6, 2024] [added: 12, 2025] expressed an unqualified opinion on the effectiveness of the Company’s internal control over financial reporting.

As of December 31, [removed: 2023,] [added: 2024,] the Company had gross deferred tax assets of [removed: $3.6] [added: $3.4] billion and a related valuation allowance of [removed: $0.8] [added: $0.7] billion.

HAL [removed: 2023] [added: 2024] FORM 10-K | [removed: 40][added: 41]

[removed: February 6,] [added: | | | | | | |] 2024 [added: | | | | | |]

HAL [removed: 2023] [added: 2024] FORM 10-K | [removed: 41][added: 42]

We have audited Halliburton Company and [removed: subsidiaries'] [added: subsidiaries’] (the Company) internal control over financial reporting as of December 31, [removed: 2023,] [added: 2024,] based on criteria established in *Internal Control* \- *Integrated Framework (2013)* issued by the Committee of Sponsoring Organizations of the Treadway Commission.

In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, [removed: 2023,] [added: 2024,] based on criteria established in *Internal Control* \- *Integrated Framework (2013)* issued by the Committee of Sponsoring Organizations of the Treadway Commission.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheets of the Company as of December 31, [removed: 2023] [added: 2024] and [removed: 2022,] [added: 2023,] the related consolidated statements of operations, comprehensive income, cash flows and [removed: shareholders'] [added: shareholders’] equity for each of the years in the three-year period ended December 31, [removed: 2023,] [added: 2024,] and the related notes (collectively, the consolidated financial statements), and our report dated February [removed: 6, 2024] [added: 12, 2025] expressed an unqualified opinion on those consolidated financial statements.

HAL [removed: 2023] [added: 2024] FORM 10-K | [removed: 42][added: 43]

| | | | | | | Year Ended December [removed: 31] [added: 31,] | | | | | | | | |

| *Millions of dollars and shares except per share data* | | | | | | [removed: 2023] [added: 2024] | | | [removed: 2022] [added: 2023] | | | [removed: 2021] [added: 2022] | | |

| Services | | | | | | $ | [removed: 16,483] [added: 16,348] | | $ | [removed: 14,749] [added: 16,483] | | $ | [removed: 10,989] [added: 14,749] | |

| Product sales | | | | | | [removed: 6,535] [added: 6,596] | | | [removed: 5,548] [added: 6,535] | | | [removed: 4,306] [added: 5,548] | | |

| Total revenue | | | | | | [removed: 23,018] [added: 22,944] | | | [removed: 20,297] [added: 23,018] | | | [removed: 15,295] [added: 20,297] | | |

| Cost of services | | | | | | [removed: 13,402] [added: 13,470] | | | [removed: 12,381] [added: 13,402] | | | [removed: 9,745] [added: 12,381] | | |

| Cost of sales | | | | | | [removed: 5,256] [added: 5,173] | | | [removed: 4,603] [added: 5,256] | | | [removed: 3,534] [added: 4,603] | | |

| [Note 4. Revenue](#i62f1e411928f45f884519bb0565bccc6_115) | | | [55](#i62f1e411928f45f884519bb0565bccc6_115) | | | | | |

| [Note 5. Receivables](#i62f1e411928f45f884519bb0565bccc6_121) | | | [56](#i62f1e411928f45f884519bb0565bccc6_121) | | | | | |

| [Note 6. Leases](#i62f1e411928f45f884519bb0565bccc6_127) | | | [57](#i62f1e411928f45f884519bb0565bccc6_127) | | | | | |

| [Note 7. Inventories](#i62f1e411928f45f884519bb0565bccc6_130) | | | [59](#i62f1e411928f45f884519bb0565bccc6_130) | | | | | |

| [Note 8. Accounts Payable](#i62f1e411928f45f884519bb0565bccc6_133) | | | [59](#i62f1e411928f45f884519bb0565bccc6_130) | | | | | |

| [Note 10. Debt](#i62f1e411928f45f884519bb0565bccc6_145) | | | [60](#i62f1e411928f45f884519bb0565bccc6_145) | | | | | |

| [Note 12. Income Taxes](#i62f1e411928f45f884519bb0565bccc6_154) | | | [62](#i62f1e411928f45f884519bb0565bccc6_154) | | | | | |

| [Note 13. Shareholders’ Equity](#i62f1e411928f45f884519bb0565bccc6_157) | | | [65](#i62f1e411928f45f884519bb0565bccc6_157) | | | | | |

| [Note 17. Retirement Plans](#i62f1e411928f45f884519bb0565bccc6_175) | | | [70](#i62f1e411928f45f884519bb0565bccc6_175) | | | | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_76) | | | | | | | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_76) | | | | | | | | |

February 12, 2025

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_76) | | | | | | | | |

February 12, 2025

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_76) | | | | | | | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_76) | | | | | | | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_76) | | | | | | | | |

| Current maturities of long-term debt | | | | | | 381 | | | — | | | | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_76) | | | | | | | | |

| Net income | | | | | | $ | 2,516 | | $ | 2,662 | | $ | 1,595 | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_76) | | | | | | | | |

| Net income | | | | | | — | | | — | | | — | | | 2,501 | | | — | | | 15 | | | 2,516 | | |

| Stock plans | | | | | | (1) | | | 16 | | | 331 | | | (105) | | | — | | | — | | | 241 | | |

| Stock repurchase program | | | | | | — | | | — | | | (1,005) | | | — | | | — | | | — | | | (1,005) | | |

| Balance at December 31, 2024 | | | | | | $ | 2,662 | | $ | 79 | | $ | (6,214) | | $ | 14,332 | | $ | (353) | | $ | 42 | | $ | 10,548 | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_76) | | | Item 8 \| Notes to Consolidated Financial Statements | | | | | |

| Balance at December 31, 2024: | | | $ | 2,020 | | $ | 818 | | $ | 2,838 | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_76) | | | Item 8 \| Notes to Consolidated Financial Statements | | | | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_76) | | | Item 8 \| Notes to Consolidated Financial Statements | | | | | |

| Impairment of assets held for sale | | | 49 | | | — | | | — | | |

| Cybersecurity | | | 35 | | | — | | | — | | |

| Gain on investment | | | (43) | | | — | | | — | | |

During the year ended December 31, 2024, we recorded $116 million net charges, of which $45 million was attributable to our Completion and Production segment, $34 million was attributable to our Drilling and Evaluation segment, and $37 million was attributable to Corporate and other.

These charges included $63 million in severance expense as we rationalized global headcount to reflect growth expectations in addition to a $49 million impairment associated with a strategic decision to market for sale a portion of our chemical business.

Also, as disclosed within our Form 8-Ks filed with the SEC on August 23, 2024, and September 3, 2024, we became aware that an unauthorized third party gained access to certain of our systems.

As a result, we incurred $35 million in expenses related to the engagement of external advisors to assess and remediate the effects of the activity, and restore our systems, as well as legal fees, payroll related costs, and other expenses.

Additionally, we recognized a gain of $43 million related to a fair value adjustment on an equity investment during the year ended December 31, 2024.

Our company’s chief operating decision maker (CODM) is Jeffrey Miller, Chairman of the Board, President and Chief Executive Officer.

Our CODM assesses the performance of the two divisions and makes resource allocation decisions based on divisional revenue and operating income.

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_76) | | | Item 8 \| Notes to Consolidated Financial Statements | | | | | |

| [Note 4. Revenue](#i62ba888e2d22410aa1670bccdb226cfc_112) | | | [53](#i62ba888e2d22410aa1670bccdb226cfc_112) | | | | | |

| [Note 5. Receivables](#i62ba888e2d22410aa1670bccdb226cfc_118) | | | [54](#i62ba888e2d22410aa1670bccdb226cfc_118) | | | | | |

| [Note 6. Leases](#i62ba888e2d22410aa1670bccdb226cfc_124) | | | [55](#i62ba888e2d22410aa1670bccdb226cfc_124) | | | | | |

| [Note 7. Inventories](#i62ba888e2d22410aa1670bccdb226cfc_127) | | | [57](#i62ba888e2d22410aa1670bccdb226cfc_127) | | | | | |

| [Note 8. Accounts Payable](#i62ba888e2d22410aa1670bccdb226cfc_1946) | | | [57](#i62ba888e2d22410aa1670bccdb226cfc_127) | | | | | |

| [Note](#i62ba888e2d22410aa1670bccdb226cfc_136) [10](#i62ba888e2d22410aa1670bccdb226cfc_136)[. Debt](#i62ba888e2d22410aa1670bccdb226cfc_136) | | | [58](#i62ba888e2d22410aa1670bccdb226cfc_136) | | | | | |

| [Note 1](#i62ba888e2d22410aa1670bccdb226cfc_145)[2](#i62ba888e2d22410aa1670bccdb226cfc_145)[. Income Taxes](#i62ba888e2d22410aa1670bccdb226cfc_145) | | | [59](#i62ba888e2d22410aa1670bccdb226cfc_145) | | | | | |

| [Note 1](#i62ba888e2d22410aa1670bccdb226cfc_148)[3](#i62ba888e2d22410aa1670bccdb226cfc_148)[. Shareholders’ Equity](#i62ba888e2d22410aa1670bccdb226cfc_148) | | | [62](#i62ba888e2d22410aa1670bccdb226cfc_148) | | | | | |

| [Note 1](#i62ba888e2d22410aa1670bccdb226cfc_166)[7](#i62ba888e2d22410aa1670bccdb226cfc_166)[. Retirement Plans](#i62ba888e2d22410aa1670bccdb226cfc_166) | | | [67](#i62ba888e2d22410aa1670bccdb226cfc_166) | | | | | |

| Proceeds from a structured real estate transaction | | | | | | — | | | — | | | 87 | | |

| | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Balance at December 31, 2020 | | | | | | $ | 2,666 | | $ | — | | $ | (6,021) | | $ | 8,691 | | $ | (362) | | $ | 9 | | $ | 4,983 | |

| Net income | | | | | | — | | | — | | | — | | | 1,457 | | | — | | | 11 | | | 1,468 | | |

| Stock plans | | | | | | (1) | | | 32 | | | 510 | | | (277) | | | — | | | — | | | 264 | | |

| Balance at December 31, 2021: | | | $ | 2,012 | | $ | 831 | | $ | 2,843 | |

| Catch-up depreciation | | | | | | — | | | 36 | | |

For the year ended December 31, 2021, $12 million of impairments and other charges was recorded due to the decision to discontinue the proposed sale of our Pipeline and Process Services business and as a result we recorded a $36 million charge for accumulated unrecognized depreciation and amortization expense during the period the associated assets were classified as held for sale.

Additionally, we finalized a structured transaction relating to most of our owned United States real estate.

As a result of the transaction, we derecognized $358 million of assets previously held for sale included in Other current assets and recognized an investment in an unconsolidated subsidiary of $349 million included in Other assets, which resulted in a gain of $74 million, due to specific assets with a carrying amount less than the fair value.

| (c) | | | The Central Bank of Argentina maintains currency controls that limit our ability to access U.S. dollars in Argentina and remit cash from our Argentine operations. Our execution of certain trades, known as Blue Chip Swaps, which effectively results in a parallel U.S. dollar exchange rate, resulted in a $110 million pre-tax loss for the year ended December 31, 2023. | | | | | | | | | | | |

| (d) | | | For the year ended December 31, 2023, we incurred a loss of $131 million due to the devaluation of the currency in Argentina. | | | | | | | | | | | |

| 2024 | | | $ | 323 | | $ | 68 | |

| 2025 | | | 254 | | | 65 | | |

| 2026 | | | 176 | | | 63 | | |

| 2027 | | | 115 | | | 29 | | |

| Thereafter | | | 536 | | | 18 | | |

During the year ended December 31, 2022, we recorded $70 million of impairment charges related to inventory.

These charges were primarily attributable to our exit from Russia.

Effective January 1, 2023, we adopted new supplier finance program disclosure requirements contained in guidance issued by the Financial Accounting Standards Board (ASU 2022-04, "Disclosure of Supplier Finance Program Obligations"), other than the roll-forward disclosure, which we will adopt in 2024.

During the year ended December 31, 2022, we recorded $100 million of impairment charges on property, plant, and equipment primarily related to our exit from Russia.

In August of 2023, we repurchased $150 million aggregate principal amount of various maturities of our outstanding debt, including: $15 million of our 3.8% senior notes due November 2025, $14 million of our 6.75% notes due February 2027, $21 million of our 6.7% senior notes due September 2038, $32 million of our 7.45% senior notes due September 2039, $60 million of our 5.0% senior notes due November 2045, and $8 million of our 7.6% senior debentures due August 2096.

In November of 2023, we repurchased $150 million aggregate principal amount of various maturities of our outstanding debt, including: $3 million of our 3.8% senior notes due November 2025, $16 million of our 6.7% senior notes due September 2038, $22 million of our 7.45% senior notes due September 2039, $21 million of our 4.75% senior notes due August 2043, $29 million of our 5.0% senior notes due November 2045, and $58 million of our 7.6% senior notes due August 2096.

| 2024-2028 | | | $ | 3 | | $ | 129 | | $ | 450 | | $ | — | | $ | 582 | |

| 2029-2033 | | | 8 | | | 13 | | | 474 | | | — | | | 495 | | |

| 2034-2043 | | | 25 | | | 88 | | | — | | | 173 | | | 286 | | |

| Non-Expiring | | | 17 | | | 403 | | | — | | | — | | | 420 | | |

| | | | $ | 53 | | $ | 633 | | $ | 924 | | $ | 173 | | $ | 1,783 | |

| Balance at January 1, 2021 | | | | | | $ | 355 | | | | | $ | 71 | |

| Balance at December 31, 2021 | | | | | | $ | 352 | | (a) | | | $ | 72 | |

| Other | | | | | | (40) | | | (45) | | |

HAL [removed: 2023] [added: 2024] FORM 10-K | [removed: 70][added: 74]

| [Table of [removed: Contents](#i62ba888e2d22410aa1670bccdb226cfc_7)] [added: Contents](#i62f1e411928f45f884519bb0565bccc6_7)] | | | Item 10 \| Directors, Executive Officers and Corporate Governance | | | | | |

During the quarter ended December 31, 2024, the following officers of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408 of Regulation S-K, and no trading arrangements were adopted or terminated by directors of the Company.

| | | | | | | | | | | | | | | | | | | | | |

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |

| Reporting Officer | | | Title | | | Reporting Action | | | Plan Adoption Date | | | Plan End Date | | | Aggregated Shares Covered | | | Intended to Satisfy Rule 10b5-1? | | |

| Eric J. Carre | | | Executive Vice President and Chief Financial Officer | | | Plan Adoption | | | 11/12/2024 | | | 11/11/2025 | | | 348,344 | | | Yes | | |

| Van H. Beckwith | | | Executive Vice President, Secretary and Chief Legal Officer | | | Plan Adoption | | | 11/12/2024 | | | 11/11/2025 | | | 267,681 | | | Yes | | |

| Lawrence J. Pope | | | Executive Vice President of Administration and Chief Human Resources Officer | | | Plan Adoption | | | 11/13/2024 | | | 11/11/2025 | | | 144,500 | | | Yes | | |

| Mark J. Richard | | | President - Western Hemisphere | | | Plan Adoption | | | 11/12/2024 | | | 11/11/2025 | | | 105,186 | | | Yes | | |

| Shannon Slocum | | | President - Eastern Hemisphere | | | Plan Adoption | | | 11/12/2024 | | | 11/11/2025 | | | 80,828 | | | Yes | | |

| Timothy M. McKeon | | | Senior Vice President and Treasurer | | | Plan Adoption | | | 11/12/2024 | | | 11/11/2025 | | | 47,240 | | | Yes | | |

| Charles E. Geer, Jr. | | | Senior Vice President and Chief Accounting Officer | | | Plan Adoption | | | 11/12/2024 | | | 11/11/2025 | | | 38,700 | | | Yes | | |

| Jill D. Sharp | | | Senior Vice President, Internal Assurance Services | | | Plan Adoption | | | 11/12/2024 | | | 11/11/2025 | | | 30,930 | | | Yes | | |

In accordance with the Securities Exchange Act of 1934 Rules 13a-15 and 15d-15, we carried out an evaluation, under the supervision and with the participation of management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report.

Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of December 31, 2023 to provide reasonable assurance that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

Our disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

There has been no change in our internal control over financial reporting that occurred during the three months ended December 31, 2023 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

See page 39 for Management’s Report on Internal Control Over Financial Reporting and page 40 for Report of Independent Registered Public Accounting Firm on its assessment of our internal control over financial reporting.

Item 9(b).

Other Information.

None.

The information required for the directors of the Registrant is incorporated by reference to the Halliburton Company Proxy Statement for our [removed: 2024] [added: 2025] Annual Meeting of Shareholders (File No. 001-03492) under the captions “Election of Directors” and “Involvement in Certain Legal Proceedings.” The information required for the directors and executive officers of the Registrant is included under Part I on pages 7 and 8 of this annual report.

The information required for a delinquent form required under Section 16(a) of the Securities Exchange Act of 1934 is incorporated by reference to the Halliburton Company Proxy Statement for our [removed: 2024] [added: 2025] Annual Meeting of Shareholders (File No. 001-03492) under the caption “Delinquent Section 16(a) Reports,” to the extent any disclosure is required.

The information for our code of ethics is incorporated by reference to the Halliburton Company Proxy Statement for our [removed: 2024] [added: 2025] Annual Meeting of Shareholders (File No. 001-03492) under the caption “Corporate Governance.” The information regarding procedures by which security holders may recommend nominees to the [removed: registrant's] [added: registrant’s] board of directors is incorporated by reference to the Halliburton Company Proxy Statement for our [removed: 2024] [added: 2025] Annual Meeting of Shareholders (File No. 001-03492) under the caption “Shareholder Nominations of Directors.” The information regarding our Audit Committee and the independence of its members, along with information about the audit committee financial expert(s) serving on the Audit Committee, is incorporated by reference to the Halliburton Company Proxy Statement for our [removed: 2024] [added: 2025] Annual Meeting of Shareholders (File No. 001-03492) under the caption “The Board of Directors and Standing Committees of Directors.” [added: The information regarding insider trading arrangements is incorporated by reference to the Halliburton Company Proxy Statement for our 2025 Annual Meeting of Shareholders (File No. 001-03492) under the caption “Insider Trading Policies” and also within our Company’s policies titled “Use of Material Nonpublic Information, Securities Trading Windows, and Hedging and Pledging of Company Securities,” and “Securities Trading of Company Securities by the Company,” which are filed as Exhibit 19.1 and Exhibit 19.2, respectively, to this annual report.]

This information is incorporated by reference to the Halliburton Company Proxy Statement for our [removed: 2024] [added: 2025] Annual Meeting of Shareholders (File No. 001-03492) under the captions “Compensation Discussion and Analysis,” “Compensation Committee Report,” “Summary Compensation Table,” “Grants of Plan-Based Awards in Fiscal [removed: 2023,”] [added: 2024,”] “Outstanding Equity Awards at Fiscal Year End [removed: 2023,” “2023] [added: 2024,” “2024] Option Exercises and Stock Vested,” [removed: “2023] [added: “2024] Nonqualified Deferred Compensation,” “Employment Contracts and Change-in-Control Arrangements,” “Post-Termination or Change-in-Control Payments,” [removed: “Equity Compensation Plan Information,”] “Directors’ Compensation” and “CEO Pay Ratio.”

This information is incorporated by reference to the Halliburton Company Proxy Statement for our [removed: 2024] [added: 2025] Annual Meeting of Shareholders (File No. 001-03492) under the caption “Stock Ownership of Certain Beneficial Owners and Management.”

This information is incorporated by reference to the Halliburton Company Proxy Statement for our [removed: 2024] [added: 2025] Annual Meeting of Shareholders (File No. 001-03492) under the caption “Equity Compensation Plan Information.”

This information is incorporated by reference to the Halliburton Company Proxy Statement for our 2025 Annual Meeting of Shareholders (File No. 001-03492) under the caption “Stock Ownership of Certain Beneficial Owners and Management.”

This information is incorporated by reference to the Halliburton Company Proxy Statement for our [removed: 2024] [added: 2025] Annual Meeting of Shareholders (File No. 001-03492) under the caption “Corporate Governance” to the extent any disclosure is required, and under the caption “The Board of Directors and Standing Committees of Directors.”

This information is incorporated by reference to the Halliburton Company Proxy Statement for our [removed: 2024] [added: 2025] Annual Meeting of Shareholders (File No. 001-03492) under the caption “Fees Paid to KPMG LLP.” Our independent registered public accounting firm is KPMG LLP, Houston, TX PCAOB ID:185.

HAL [removed: 2023] [added: 2024] FORM 10-K | [removed: 71][added: 75]

| [Table of [removed: Contents](#i62ba888e2d22410aa1670bccdb226cfc_7)] [added: Contents](#i62f1e411928f45f884519bb0565bccc6_7)] | | | | | | Item 15 \| Exhibits | | |

| | | | Number | | | [removed: Exhibits] | | |

| | | | 3.1 | | | [Amended and [removed: Restated](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm) [Certificate] [added: Restated Certificate] of Incorporation of Halliburton Company filed with the Secretary of State of Delaware on [removed: May](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm) [17](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm)[, 20](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm)[23](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm) [(incorporated] [added: May 17, 2023 (incorporated] by reference to Exhibit 3.1 to Halliburton’s [removed: Form](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm) [10](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm)[\-](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm)[Q](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm) [](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm)[for the](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm) [](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm)[quarter ended](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm) [June 30,](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm) [](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm)[2023](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm)[,] [added: Form 10-Q for the quarter ended June 30, 2023,] File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501223000046/hal_06302023-ex31.htm)] | | |

| | | | 3.2 | | | [By-laws of Halliburton Company revised effective [removed: December 8, 2022] [added: May 2, 2024] (incorporated by reference to Exhibit 3.1 [removed: to] [added: of] Halliburton’s Form 8-K filed [removed: December 12, 2022,] [added: May 3, 2024,] File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000004501222000070/exhibit31by-laws12x08x22.htm)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501224000024/exhibit31-byxlawsamendedma.htm)] | | |

| | | | 4.1 | | | [Second Senior Indenture dated as of December 1, 1996 between the Predecessor and The Bank of New York Trust Company, N.A. (as successor to Texas Commerce Bank National Association), as Trustee, as supplemented and amended by the First Supplemental Indenture dated as of December 5, 1996 between the Predecessor and the Trustee and the Second Supplemental Indenture dated as of December 12, 1996 among the Predecessor, Halliburton and the Trustee (incorporated by reference to Exhibit 4.2 of Halliburton’s Registration Statement on Form 8-B dated December 12, 1996, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/0000898430-96-005722.txt)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/0000898430-96-005722.txt)] | | |

| | | | 4.2 | | | [Third Supplemental Indenture dated as of August 1, 1997 between Halliburton and The Bank of New York Trust Company, N.A. (as successor to Texas Commerce Bank National Association), as Trustee, to the Second Senior Indenture dated as of December 1, 1996 (incorporated by reference to Exhibit 4.7 to Halliburton’s Form 10-K for the year ended December 31, 1998, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/0000045012-99-000005.txt)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/0000045012-99-000005.txt)] | | |

| | | | 4.3 | | | [Fourth Supplemental Indenture dated as of September 29, 1998 between Halliburton and The Bank of New York Trust Company, N.A. (as successor to Texas Commerce Bank National Association), as Trustee, to the Second Senior Indenture dated as of December 1, 1996 (incorporated by reference to Exhibit 4.8 to Halliburton’s Form 10-K for the year ended December 31, 1998, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/0000045012-99-000005.txt)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/0000045012-99-000005.txt)] | | |

| | | | 4.4 | | | [Resolutions of Halliburton’s Board of Directors adopted by unanimous consent dated December 5, 1996 (incorporated by reference to Exhibit 4(g) of Halliburton’s Form 10-K for the year ended December 31, 1996, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/0000045012-97-000011.txt)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/0000045012-97-000011.txt)] | | |

| | | | 4.5 | | | [Form of debt security of 6.75% Notes due February 1, 2027 (incorporated by reference to Exhibit 4.1 to Halliburton’s Form 8-K dated as of February 11, 1997, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/0000045012-97-000006.txt)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/0000045012-97-000006.txt)] | | |

HAL [removed: 2023] [added: 2024] FORM 10-K | [removed: 72][added: 76]

| [Table of [removed: Contents](#i62ba888e2d22410aa1670bccdb226cfc_7)] [added: Contents](#i62f1e411928f45f884519bb0565bccc6_7)] | | | | | | Item 15 \| Exhibits | | |

| | | | 4.7 | | | [Form of Indenture dated as of April 18, 1996 between Dresser and The Bank of New York Trust Company, N.A. (as successor to Texas Commerce Bank National Association), as Trustee (incorporated by reference to Exhibit 4 to Dresser’s Registration Statement on Form S-3/A filed on April 19, 1996, Registration No. 333-01303), as supplemented and amended by Form of First Supplemental Indenture dated as of August 6, 1996 between Dresser and The Bank of New York Trust Company, N.A. (as successor to Texas Commerce Bank National Association), Trustee, for 7.60% Debentures due 2096 (incorporated by reference to Exhibit 4.1 to Dresser’s Form 8-K filed on August 9, 1996, File No. [removed: 1-4003).](http://www.sec.gov/Archives/edgar/data/30099/0000912057-96-016770.txt)] [added: 1-4003).](https://www.sec.gov/Archives/edgar/data/30099/0000912057-96-016770.txt)] | | |

| | | | 4.8 | | | [Second Supplemental Indenture dated as of October 27, 2003 between DII Industries, LLC and The Bank of New York Trust Company, N.A. (as successor to JPMorgan Chase Bank), as Trustee, to the Indenture dated as of April 18, 1996 (incorporated by reference to Exhibit 4.15 to Halliburton’s Form 10-K for the year ended December 31, 2003, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000004501204000086/exh4_15.txt)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501204000086/exh4_15.txt)] | | |

| | | | 4.9 | | | [Third Supplemental Indenture dated as of December 12, 2003 among DII Industries, LLC, Halliburton Company and The Bank of New York Trust Company, N.A. (as successor to JPMorgan Chase Bank), as Trustee, to the Indenture dated as of April 18, 1996, (incorporated by reference to Exhibit 4.16 to Halliburton’s Form 10-K for the year ended December 31, 2003, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000004501204000086/exh4_16.txt)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501204000086/exh4_16.txt)] | | |

| | | | 4.10 | | | [Indenture dated as of October 17, 2003 between Halliburton Company and The Bank of New York Trust Company, N.A. (as successor to JPMorgan Chase Bank), as Trustee (incorporated by reference to Exhibit 4.1 to Halliburton’s Form 10-Q for the quarter ended September 30, 2003, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000095012903005445/h10204exv4w1.txt)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000095012903005445/h10204exv4w1.txt)] | | |

| | | | 4.11 | | | [Second Supplemental Indenture dated as of December 15, 2003 between Halliburton Company and The Bank of New York Trust Company, N.A. (as successor to JPMorgan Chase Bank), as Trustee, to the Senior Indenture dated as of October 17, 2003 (incorporated by reference to Exhibit 4.27 to Halliburton’s Form 10-K for the year ended December 31, 2003, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000004501204000086/exh4_27.txt)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501204000086/exh4_27.txt)] | | |

| | | | 4.12 | | | [Form of note of 7.6% debentures due 2096 (included as Exhibit A to Exhibit [removed: 4.1](http://www.sec.gov/Archives/edgar/data/45012/000004501204000086/exh4_27.txt)[1](http://www.sec.gov/Archives/edgar/data/45012/000004501204000086/exh4_27.txt)[).](http://www.sec.gov/Archives/edgar/data/45012/000004501204000086/exh4_27.txt)] [added: 4.11).](https://www.sec.gov/Archives/edgar/data/45012/000004501204000086/exh4_27.txt)] | | |

| | | | 4.13 | | | [Fourth Supplemental Indenture, dated as of September 12, 2008, between Halliburton Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee to JPMorgan Chase Bank, to the Senior Indenture dated as of October 17, 2003 (incorporated by reference to Exhibit 4.2 to Halliburton’s Form 8-K filed September 12, 2008, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000095013408016534/h60310exv4w2.htm)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000095013408016534/h60310exv4w2.htm)] | | |

| | | | 4.14 | | | [Form of Global Note for Halliburton’s 6.70% Senior Notes due 2038 (included as part of Exhibit [removed: 4.1](http://www.sec.gov/Archives/edgar/data/45012/000095013408016534/h60310exv4w2.htm)[3](http://www.sec.gov/Archives/edgar/data/45012/000095013408016534/h60310exv4w2.htm)[).](http://www.sec.gov/Archives/edgar/data/45012/000095013408016534/h60310exv4w2.htm)] [added: 4.13).](https://www.sec.gov/Archives/edgar/data/45012/000095013408016534/h60310exv4w2.htm)] | | |

| | | | 4.15 | | | [Fifth Supplemental Indenture, dated as of March 13, 2009, between Halliburton Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee to JPMorgan Chase Bank, to the Senior Indenture dated as of October 17, 2003 (incorporated by reference to Exhibit 4.2 to Halliburton’s Form 8-K filed March 13, 2009, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000095012909000861/h66138exv4w2.htm)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000095012909000861/h66138exv4w2.htm)] | | |

| | | | 4.16 | | | [Form of Global Note for Halliburton’s 7.45% Senior Notes due 2039 (included as part of Exhibit [removed: 4.1](http://www.sec.gov/Archives/edgar/data/45012/000095012909000861/h66138exv4w2.htm)[5](http://www.sec.gov/Archives/edgar/data/45012/000095012909000861/h66138exv4w2.htm)[).](http://www.sec.gov/Archives/edgar/data/45012/000095012909000861/h66138exv4w2.htm)] [added: 4.15).](https://www.sec.gov/Archives/edgar/data/45012/000095012909000861/h66138exv4w2.htm)] | | |

| | | | 4.17 | | | [Sixth Supplemental Indenture, dated as of November 14, 2011, between Halliburton Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee to JPMorgan Chase Bank, to the Senior Indenture dated as of October 17, 2003 (incorporated by reference to Exhibit 4.2 to Halliburton’s Form 8-K filed November 14, 2011, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000095012311098305/h85653exv4w2.htm)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000095012311098305/h85653exv4w2.htm)] | | |

| | | | 4.18 | | | [Form of Global Note for Halliburton’s 4.50% Senior Notes due 2041 (included as part of Exhibit [removed: 4.](http://www.sec.gov/Archives/edgar/data/45012/000095012311098305/h85653exv4w2.htm)[17](http://www.sec.gov/Archives/edgar/data/45012/000095012311098305/h85653exv4w2.htm)[).](http://www.sec.gov/Archives/edgar/data/45012/000095012311098305/h85653exv4w2.htm)] [added: 4.17).](https://www.sec.gov/Archives/edgar/data/45012/000095012311098305/h85653exv4w2.htm)] | | |

| | | | 4.19 | | | [Seventh Supplemental Indenture, dated as of August 5, 2013, between Halliburton Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee to JPMorgan Chase Bank (incorporated by reference to Exhibit 4.2 of Halliburton’s Form 8-K filed August 5, 2013, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000119312513319110/d577675dex42.htm)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000119312513319110/d577675dex42.htm)] | | |

HAL [removed: 2023] [added: 2024] FORM 10-K | [removed: 73][added: 77]

| | | | 4.20 | | | [Form of Global Note for Halliburton’s 4.75% Senior Notes due 2043 (included as part of Exhibit [removed: 4.](http://www.sec.gov/Archives/edgar/data/45012/000119312513319110/d577675dex42.htm)[19](http://www.sec.gov/Archives/edgar/data/45012/000119312513319110/d577675dex42.htm)[).](http://www.sec.gov/Archives/edgar/data/45012/000119312513319110/d577675dex42.htm)] [added: 4.19).](https://www.sec.gov/Archives/edgar/data/45012/000119312513319110/d577675dex42.htm)] | | |

| | | | 4.21 | | | [Eighth Supplemental Indenture, dated as of November 13, 2015, between Halliburton Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee to JPMorgan Chase Bank (incorporated by reference to Exhibit 4.2 to Halliburton’s Form 8-K filed November 13, 2015, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)] | | |

| | | | 4.22 | | | [Form of Global Note for Halliburton’s 3.800% Senior Notes due 2025 (included as part of Exhibit [removed: 4.2](http://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)[1](http://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)[).](http://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)] [added: 4.21).](https://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)] | | |

| | | | 4.23 | | | [Form of Global Note for Halliburton’s 4.850% Senior Notes due 2035 (included as part of Exhibit [removed: 4.2](http://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)[1](http://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)[).](http://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)] [added: 4.21).](https://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)] | | |

| | | | 4.24 | | | [Form of Global Note for Halliburton’s 5.000% Senior Notes due 2045 (included as part of Exhibit [removed: 4.2](http://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)[1](http://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)[).](http://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)] [added: 4.21).](https://www.sec.gov/Archives/edgar/data/45012/000004501215000164/8thsupplementalindenture.htm)] | | |

| | | | 4.27 | | | [Form of Global Note for the Company’s 2.920% Senior Notes due 2030 (included as part of Exhibit [removed: 4.](https://www.sec.gov/Archives/edgar/data/45012/000119312520060431/d895135dex42.htm)[26](https://www.sec.gov/Archives/edgar/data/45012/000119312520060431/d895135dex42.htm)[).](https://www.sec.gov/Archives/edgar/data/45012/000119312520060431/d895135dex42.htm)] [added: 4.26).](https://www.sec.gov/Archives/edgar/data/45012/000119312520060431/d895135dex42.htm)] | | |

| † | | | 10.2 | | | [Dresser Industries, Inc. Deferred Compensation Plan, as amended and restated effective January 1, 2000 (incorporated by reference to Exhibit 10.16 to Halliburton’s Form 10-K for the year ended December 31, 2000, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000004501201000009/0000045012-01-000009-0003.txt)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501201000009/0000045012-01-000009-0003.txt)] | | |

| † | | | 10.3 | | | [ERISA Excess Benefit Plan for Dresser Industries, Inc., as amended and restated effective June 1, 1995 (incorporated by reference to Exhibit 10.7 to Dresser’s Form 10-K for the year ended October 31, 1995, File No. [removed: 1-4003).](http://www.sec.gov/Archives/edgar/data/30099/0000912057-96-000951.txt)] [added: 1-4003).](https://www.sec.gov/Archives/edgar/data/30099/0000912057-96-000951.txt)] | | |

| † | | | 10.4 | | | [Halliburton Company [removed: Directors' Deferred] [added: Directors](https://www.sec.gov/Archives/edgar/data/45012/000004501212000204/hal-6302012xex105.htm)[’](https://www.sec.gov/Archives/edgar/data/45012/000004501212000204/hal-6302012xex105.htm) [Deferred] Compensation Plan, as amended and restated effective May 16, 2012 (incorporated by reference to Exhibit 10.5 to [removed: Halliburton's] [added: Halliburton](https://www.sec.gov/Archives/edgar/data/45012/000004501212000204/hal-6302012xex105.htm)[’](https://www.sec.gov/Archives/edgar/data/45012/000004501212000204/hal-6302012xex105.htm)[s] Form 10-Q for the quarter ended June 30, 2012, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000004501212000204/hal-6302012xex105.htm)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501212000204/hal-6302012xex105.htm)] | | |

| † | | | 10.5 | | | [Halliburton Company Employee Stock Purchase Plan, as amended and restated effective February 17, 2021 (incorporated by reference to Appendix B of Halliburton’s proxy statement filed April 6, 2021, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000130817921000173/lhal2021_def14a.pdf)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000130817921000173/lhal2021_def14a.pdf)] | | |

| † | | | 10.6 | | | [First Amendment to Restricted Stock Plan for Non-Employee Directors of Halliburton Company, effective December 7, 2011 (incorporated by reference to Exhibit 10.41 to Halliburton’s Form 10-K for the year ended December 31, 2011, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000004501212000075/exhibit_10-41.htm)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501212000075/exhibit_10-41.htm)] | | |

| † | | | 10.7 | | | [Second Amendment to Restricted Stock Plan for Non-Employee Directors of Halliburton Company, effective May 16, 2012 (incorporated by reference to Exhibit 10.4 to [removed: Halliburton's] [added: Halliburton](https://www.sec.gov/Archives/edgar/data/45012/000004501212000204/hal-6302012xex104.htm)[’](https://www.sec.gov/Archives/edgar/data/45012/000004501212000204/hal-6302012xex104.htm)[s] Form 10-Q for the quarter ended June 30, 2012, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000004501212000204/hal-6302012xex104.htm)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501212000204/hal-6302012xex104.htm)] | | |

HAL [removed: 2023] [added: 2024] FORM 10-K | [removed: 74][added: 78]

| † | | | 10.8 | | | [Third Amendment to Restricted Stock Plan for Non-Employee Directors of Halliburton Company, effective December 1, 2012 (incorporated by reference to Exhibit 10.44 to Halliburton’s Form 10-K for the year ended December 31, 2012, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000004501213000086/hal-12312012xex1044.htm)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501213000086/hal-12312012xex1044.htm)] | | |

| † | | | 10.9 | | | [First Amendment dated December 1, 2012 to Halliburton Company [removed: Directors' Deferred] [added: Directors](https://www.sec.gov/Archives/edgar/data/45012/000004501213000086/hal-12312012xex1045.htm)[’](https://www.sec.gov/Archives/edgar/data/45012/000004501213000086/hal-12312012xex1045.htm) [Deferred] Compensation [removed: Plan,](http://www.sec.gov/Archives/edgar/data/45012/000004501213000086/hal-12312012xex1045.htm) [as] [added: Plan, as] amended and restated effective May 16, 2012 (incorporated by reference to Exhibit 10.45 to Halliburton’s Form 10-K for the year ended December 31, 2012, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000004501213000086/hal-12312012xex1045.htm)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501213000086/hal-12312012xex1045.htm)] | | |

| † | | | 10.10 | | | [Executive Agreement (Myrtle L. Jones) (incorporated by reference to Exhibit 10.1 to [removed: Halliburton's] [added: Halliburton](https://www.sec.gov/Archives/edgar/data/45012/000004501213000159/hal-3312013xex101.htm)[’](https://www.sec.gov/Archives/edgar/data/45012/000004501213000159/hal-3312013xex101.htm)[s] Form 10-Q for the quarter ended March 31, 2013, File No. [removed: 001-03492).](http://www.sec.gov/Archives/edgar/data/45012/000004501213000159/hal-3312013xex101.htm)] [added: 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501213000159/hal-3312013xex101.htm)] | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 15 \| Exhibits | | |

| | | | 4.25 | | | [Description of](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm) [the Regis](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm)[t](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm)[rant](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm)[’](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm)[s](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm) [Securities](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm) [Regist](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm)[ered Pursuant to Section 12 of the Securities Exchange Act o](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm)[f 1934](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm) [(incorporated by reference to Exhibit 4.25 of Halliburton](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm)[’](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm)[s Form 10-K filed February 6, 2024, File No. 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm) | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 15 \| Exhibits | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 15 \| Exhibits | | |

| † | | | 10.36 | | | [Form of Restricted Stock Unit Agreement (International) (incorporated by reference to Exhibit 10.37 of Halliburton’s](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex1037.htm) [F](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex1037.htm)[orm 10-K filed February 6, 2024, File No. 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex1037.htm) | | |

| † | | | 10.37 | | | [Form of Restricted Stock Unit Agreement (U.S. Expat) (incorporated by reference to Exhibit 10.38 of Halliburton’s](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex1038.htm) [F](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex1038.htm)[orm 10-K filed February 6, 2024, File No. 001-03492).](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex1038.htm) | | |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 15 \| Exhibits | | |

| *† | | | 10.39 | | | [Form of Restricted Stock Agreement.](https://www.sec.gov/Archives/edgar/data/45012/000004501225000010/hal_12312024-ex1039.htm) | | |

| *† | | | 10.42 | | | [Form of Performance Share Unit Award Agreement.](https://www.sec.gov/Archives/edgar/data/45012/000004501225000010/hal_12312024-ex1042.htm) | | |

| * | | | 19.1 | | | [Company Policy: Use of Material Nonpublic Information, Securities Trading Windows, and Hedging and Pledging of Company Securities.](https://www.sec.gov/Archives/edgar/data/45012/000004501225000010/hal_12312024-ex191.htm) | | |

| * | | | 19.2 | | | [Company Policy: Securities Trading of Company Securities by the Company](https://www.sec.gov/Archives/edgar/data/45012/000004501225000010/hal_12312024-ex192.htm)[.](https://www.sec.gov/Archives/edgar/data/45012/000004501225000010/hal_12312024-ex192.htm) | | |

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HAL 2024 FORM 10-K | 81

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | Item 15 \| Exhibits | | |

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| | | | | | | | | |

| * | | | 4.25 | | | [Description of Registrant's Securities](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm)[.](https://www.sec.gov/Archives/edgar/data/45012/000004501224000007/hal_12312023-ex425.htm) | | |

| † | | | 10.1 | | | Halliburton Company Restricted Stock Plan for Non-Employee Directors (incorporated by reference to Appendix B of the Predecessor’s proxy statement dated March 23, 1993, File No. 001-03492). | | |

HAL [removed: 2023] [added: 2024] FORM 10-K | [removed: 77][added: 82]

| [Table of [removed: Contents](#i62ba888e2d22410aa1670bccdb226cfc_7)] [added: Contents](#i62f1e411928f45f884519bb0565bccc6_7)] | | | | | | | | |

As required by Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has authorized this report to be signed on its behalf by the undersigned authorized individuals on this [removed: 6th] [added: 12th] day of February, [removed: 2024.][added: 2025.]

As required by the Securities Exchange Act of 1934, this report has been signed below by the following persons in the capacities indicated on this [removed: 6th] [added: 12th] day of February, [removed: 2024.][added: 2025.]

HAL [removed: 2023] [added: 2024] FORM 10-K | [removed: 78][added: 83]

HAL [removed: 2023] [added: 2024] FORM 10-K | [removed: 79][added: 84]

| [Table of Contents](#i62f1e411928f45f884519bb0565bccc6_7) | | | | | | | | |

| | | | | | |

| /s/ Milton Carroll | | | Director | | |

| Milton Carroll | | | | | |