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

the ability or willingness of the Organization of Petroleum Exporting Countries [added: (OPEC)] and the expanded alliance known as OPEC+ to set and maintain production levels for oil;

Disruptions in the political, regulatory, economic, and social environments of the countries in which we operate [added: or globally] could adversely affect our reputation, financial condition, results of operations and cash flows.

We are a global technology company, and our non-US operations accounted for approximately [removed: 84%] [added: 85%] of our consolidated revenue in [removed: 2023 and 2022,] [added: 2024,] and [removed: 85%] [added: 84%] in [removed: 2021.][added: 2023 and 2022.]

currency exchange rate fluctuations and [removed: devaluations.][added: devaluations; and]

Russia represented approximately [removed: 5%] [added: 4%] of our worldwide revenue during [removed: 2023.][added: 2024.]

The carrying value of our net assets in Russia was approximately $0.6 billion as of December 31, [removed: 2023.][added: 2024.]

This consisted of [removed: $0.2] [added: $0.1] billion of [removed: receivables,] [added: cash and short-term investments,] $0.3 billion of [added: receivables, $0.2 billion of] fixed assets, [removed: $0.4] [added: $0.3] billion of other assets, and $0.3 billion of current liabilities.

We continue to actively monitor the dynamic situation in [added: Russia and] Ukraine and applicable laws, sanctions and trade control restrictions resulting from the conflict.

The extent to which our [added: reputation,] operations, financial results and cash [removed: flows] [added: flows, including the ability to repatriate cash,] may be affected by the ongoing conflict in Ukraine will depend on various factors, including the extent and duration of the conflict; the effects of the conflict on regional and global economic and geopolitical conditions; the effect of further laws, sanctions and trade control restrictions on our business, the global economy and global supply chains; and the impact of fluctuations in the exchange rate of the ruble.

Failure to effectively and timely address the energy transition could adversely affect our [added: reputation,] business, results of operations, and cash flows.

If the energy transition landscape changes faster than anticipated or in a manner that we do not anticipate, demand for our products and [removed: services] [added: services, as well as our relationships with various stakeholders,] could be adversely affected.

Our operations are subject to cyber incidents that could have a material adverse effect on our [added: reputation,] business, financial condition, results of operations, and cash flows.

Our success depends in part on our ability to provide effective [removed: cyber security] [added: cybersecurity] protection in connection with our digital technologies and services as well as our internal digital infrastructure.

Our digital technologies and services, as well as third-party products, services and technologies that we rely on (including emerging technologies, such as [removed: artificial intelligence] [added: AI] programs), are subject to the risk of cyberattacks and, given the nature of such attacks, some incidents can remain undetected for a period of time despite efforts to detect and respond to them in a timely manner.

Cyberattacks are expected to accelerate on a global basis in both frequency and magnitude as threat actors are becoming increasingly sophisticated in using techniques and tools (including [removed: artificial intelligence)] [added: AI)] that circumvent controls, evade detection and even remove forensic evidence of the infiltration.

There can be no assurance that [removed: the] [added: our cybersecurity risk management program, processes, or] systems we have designed to prevent or limit the effects of cyber incidents or attacks will be sufficient to prevent or detect material consequences arising from such incidents or attacks, or to avoid a material adverse impact on our systems after such incidents or attacks do occur.

Unauthorized access to or modification of, or actions disabling our ability to obtain authorized access to, our customers’ data, other external data, personal data, or our own data, as a result of a cyber incident, attack or exploitation of a security vulnerability, or loss of [removed: control of our clients’ operations could result in significant damage to our reputation or disruption of the services we provide to our customers or of our customers’ businesses.]

This could lead to fewer customers using our digital products and services, which [added: could have a material adverse impact on our financial condition, results of operations, cash flows, and future prospects.]

Our operations are subject to international, regional, national, and local laws and regulations in every place where we operate, relating to matters such as environmental protection, health and safety, labor and employment, human rights, import/export controls, [removed: currency] [added: currency, emissions reporting,] exchange, bribery and corruption, [added: anti-money laundering,] data privacy and cybersecurity, intellectual property, immigration, [added: antitrust,] and taxation.

In addition, increasing attention to the risks of climate change has resulted in an increased possibility of litigation or investigations brought by public and private entities against oil and gas companies in connection with their GHG [removed: emissions.][added: emissions, as well as descriptions of their sustainable products and services.]

As a result, we or our customers may become subject to court orders compelling a reduction of GHG emissions or requiring mitigation of the effects of climate [removed: change.][added: change, or requiring other mitigation actions.]

We are subject to numerous laws and regulations relating to environmental protection, including those governing [removed: air and] GHG [added: and other air] emissions, water discharges and waste management, as well as the importation and use of hazardous materials, radioactive materials, chemicals, and explosives.

Accidents or acts of malfeasance involving these services [added: (including remotely operated services)] or equipment, or a failure of a product [added: or service] (including as a result of a cyberattack), could cause personal injury, loss of life, damage to or destruction of property, equipment or the environment, or suspension of operations, which could materially adversely affect us.

local content and other similar regional requirements;

supply chain disruptions;

inflation.

control of our clients’ operations could result in significant damage to our reputation or disruption of the services we provide to our customers or of our customers’ businesses.

Risks Related to the Proposed Acquisition of ChampionX

We may be unable to complete the proposed acquisition of ChampionX.

We or ChampionX may terminate the merger agreement between the parties (the “merger agreement”) in certain circumstances as described in our Current Report on Form 8-K filed with the SEC on April 2, 2024.

If the proposed acquisition is not completed for any reason, including as a result of failure to obtain required regulatory approvals, the market price of our common stock may be adversely affected; we may experience negative reactions from the financial markets, customers, suppliers and other constituencies; we will be required to pay certain costs relating to the acquisition; and we may be required to pay a termination fee under certain circumstances set forth in the merger agreement.

We may fail to realize the anticipated benefits of the proposed acquisition of ChampionX.

If the acquisition is completed, the success of the acquisition will depend on, among other things, our ability to combine our business with that of ChampionX in a manner that facilitates growth opportunities and realizes anticipated synergies.

If we are not able to successfully achieve these objectives, the anticipated benefits of the acquisition may not be realized fully, or at all, or may take longer to realize than expected.

inflation; and

could have a material adverse impact on our financial condition, results of operations, cash flows, and future prospects.

Public health emergencies, such as the COVID-19 pandemic, and resulting adverse economic conditions have had, and may continue to have, a material adverse effect on our financial condition, results of operations, and cash flows.

Public health emergencies, including the COVID-19 pandemic, have caused, and could again cause, a significant reduction in global economic activity, significantly weakening demand for oil and gas, and in turn, demand for our products and services.

Other effects of public health emergencies have included, and may continue to include, significant volatility and disruption of the global financial markets; adverse revenue and net income effects; disruptions to our operations, including suspension or deferral of drilling activities; customer shutdowns of oil and gas exploration and production; downward revisions to customer budgets; limitations on access to sources of liquidity; supply chain disruptions; limitations on access to raw materials; employee impacts from illness; and local and regional closures or lockdowns, including temporary closures of our facilities and the facilities of our customers and suppliers.

The extent to which our operating and financial results will be and may continue to be affected by public health emergencies will depend on various factors beyond our control, such as the continued severity and duration of the public health emergencies, including any sustained geographic resurgence; the emergence of new variants and strains of a contagious disease or virus; and the success of actions to contain or mitigate the effects of the public health emergency.

A public health emergency, and volatile regional and global economic conditions stemming from a public health emergency, could also aggravate our other risk factors described in this Form 10-K.

Risk Factors” of this [added: Annual Report on] Form 10-K.

This section of the Form 10-K generally discusses [removed: 2023] [added: 2024] and [removed: 2022] [added: 2023] items and year-to-year comparisons between [removed: 2023] [added: 2024] and [removed: 2022.][added: 2023.]

Discussions of [removed: 2021] [added: 2022] items and year-to-year comparison between [removed: 2022] [added: 2023] and [removed: 2021] [added: 2022] that are not included in this Form 10-K can be found in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of SLB’s Annual Report on Form 10-K for the fiscal year ended December 31, [removed: 2022.][added: 2023.]

[removed: 2023] [added: 2024] Executive Overview

Year on year, revenue [removed: grew 18%,] [added: increased by 10% and] pretax segment operating [removed: margin increased 185 basis points (“bps”) to 20% and] [added: income grew by 12%, while] we [removed: delivered] [added: generated] $6.6 billion [removed: of] [added: in] cash flow from operations and $4.0 billion [removed: of] [added: in] free cash [removed: flow—allowing] [added: flow, enabling] us to [removed: reduce net debt by $1.4 billion and] return [removed: $2.0] [added: $3.3] billion to shareholders [removed: this year through dividends] and [removed: stock repurchases.][added: reduce net debt by $571 million.]

International revenue grew [removed: 20%] [added: by 12%] year on [removed: year by more than $4 billion.][added: year.]

[removed: With] [added: Given our] confidence in the [removed: strength and longevity of the cycle] [added: business outlook] and [removed: visibility into sustained] [added: our ability to continue generating] strong cash flows, in January [removed: 2024,] [added: 2025] our Board of Directors approved a [removed: 10%] [added: 3.6%] increase to our quarterly dividend.

Fourth Quarter [removed: 2023] [added: 2024] Results

| | Fourth Quarter [removed: 2023] [added: 2024] | | | | | | | | Third Quarter [removed: 2023] [added: 2024] | | | | | | |

| Pretax segment operating income | | | | | | [removed: 1,868] [added: 1,918] | | | | | | | | [removed: 1,683] [added: 1,902] | |

| Interest income (2) | | | | | | [removed: 30] [added: 36] | | | | | | | | [removed: 20] [added: 36] | |

| Interest expense (3) | | | | | | [removed: (126] [added: (128] | ) | | | | | | | [removed: (126] [added: (132] | ) |

| Charges & credits (4) | | | | | | [removed: (146] [added: (262] | ) | | | | | | | [removed: \-] [added: (112] | [added: )] |

Excludes interest [removed: income] [added: expense] included in the segments’ income (fourth quarter [removed: 2023: $11] [added: 2024: $3] million; third quarter [removed: 2023: $2] [added: 2024: $4] million).

Excludes interest [removed: expense] [added: income] included in the segments’ income (fourth quarter [removed: 2023: $4] [added: 2024: $10] million; third quarter [removed: 2023: $3] [added: 2024: $16] million).

International revenue of [removed: $7.3] [added: $7.5] billion [removed: grew 10% sequentially,] [added: increased 1% sequentially] driven by [removed: Europe & Africa and] the Middle East & [removed: Asia.][added: Asia and Europe & Africa.]

[removed: Revenue in the] [added: The] Middle East & Asia [removed: increased 11%] [added: grew 2%] sequentially driven by [added: strong activity in the United Arab Emirates,] higher [removed: drilling, intervention,] [added: drilling in Egypt, and increased] stimulation, [added: intervention,] and evaluation [removed: activity, both on land and offshore.][added: activity in Qatar.]

Digital & Integration pretax operating margin of [removed: 34%] [added: 38%] expanded [removed: 197 bps sequentially due to] [added: 274 basis points (“bps”) sequentially, reflecting] improved profitability in [removed: digital.][added: digital from higher sales and cost efficiencies.]

North America revenue decreased [removed: 7% on a] [added: 1% due to] lower [added: drilling in] US [removed: land rig count.][added: land.]

Excluding the effects of [removed: this] [added: the Aker subsea] acquisition, revenue grew [removed: 4% sequentially due to] [added: by 9% year on year driven by] strong international [removed: sales.][added: sales across the portfolio.]

Full-Year [removed: 2023] [added: 2024] Results

| Digital & Integration | $ | [removed: 3,871] [added: 4,247] | | | $ | [removed: 1,257] [added: 1,408] | | | $ | [removed: 3,725] [added: 3,871] | | | $ | [removed: 1,357] [added: 1,257] | |

| Reservoir Performance | | [removed: 6,561] [added: 7,177] | | | | [removed: 1,263] [added: 1,452] | | | | [removed: 5,553] [added: 6,561] | | | | [removed: 881] [added: 1,263] | |

| Well Construction | | [removed: 13,478] [added: 13,357] | | | | [removed: 2,932] [added: 2,826] | | | | [removed: 11,397] [added: 13,478] | | | | [removed: 2,202] [added: 2,932] | |

| Production Systems | | [removed: 9,831] [added: 12,143] | | | | [removed: 1,245] [added: 1,898] | | | | [removed: 7,862] [added: 9,831] | | | | [removed: 748] [added: 1,245] | |

| Eliminations & other | | [removed: (606] [added: (635] | ) | | | [removed: (174] [added: (263] | ) | | | [removed: (446] [added: (606] | ) | | | [removed: (177] [added: (174] | ) |

| Pretax segment operating income | | | | | | [removed: 6,523] [added: 7,321] | | | | | | | | [removed: 5,011] [added: 6,523] | |

| Corporate & other (1) | | | | | | [removed: (729] [added: (744] | ) | | | | | | | [removed: (637] [added: (729] | ) |

| Interest income (2) | | | | | | [removed: 87] [added: 134] | | | | | | | | [removed: 27] [added: 87] | |

| Interest expense (3) | | | | | | [removed: (489] [added: (498] | ) | | | | | | | [removed: (477] [added: (489] | ) |

| Charges & credits (4) | | | | | | [removed: (110] [added: (541] | ) | | | | | | | [removed: 347] [added: (110] | [added: )] |

Excludes interest income included in the segments’ income [removed: (2023: $13] [added: (2024: $40] million; [removed: 2022: $72] [added: 2023: $13] million).

Excludes interest expense included in the segments’ income [removed: (2023:] [added: (2024:] $14 million; [removed: 2022: $13 million) .][added: 2023: $14 million).]

Reservoir Performance pretax operating margin [added: of 20%] expanded [removed: 338] [added: 99] bps [removed: to 19% primarily] [added: year on year] due to [added: improved profitability in the international markets driven by] higher activity [removed: levels] and improved [removed: pricing.][added: pricing from increased technology intensity.]

| Earnings of equity method investments | $ | [removed: 206] [added: 182] | | | $ | [removed: 164] [added: 206] | |

| Interest income | | [removed: 100] [added: 174] | | | | [removed: 99] [added: 100] | |

| Gain on sale of Liberty shares | | [removed: 36] [added: \-] | | | | [removed: 325] [added: 36] | |

| Gain on sale of [removed: real estate] [added: investment] | | [removed: \-] [added: 24] | | | | [removed: 43] [added: \-] | |

| *Research & engineering* | | 2.1 | % | | | [removed: 2.3] [added: 2.1] | % |

| *General & administrative* | | 1.1 | % | | | [removed: 1.3] [added: 1.1] | % |

2024 was a strong year for SLB as we successfully navigated evolving market conditions to deliver revenue growth, margin expansion, and solid free cash flow.

These results demonstrate SLB’s ability to deliver consistent financial performance despite moderating upstream investment growth, driven by our global scale, unmatched digital offerings and ongoing focus on cost optimization.

Our full-year results were highlighted by 12% international revenue growth.

This performance was led by the Middle East & Asia and Europe & Africa, which grew 18% and 13%, respectively.

The Middle East & Asia achieved record revenues, while growth in Europe & Africa was bolstered by the Aker subsea business, which was acquired in the fourth quarter of 2023.

Excluding this acquired business, international revenue increased 7% year over year, outperforming the rig count over the same period.

Our Core divisions — Reservoir Performance, Well Construction and Production Systems — delivered 9% revenue growth compared to the prior year, led by 24% growth in Production Systems, largely due to the subsea acquisition.

Production Systems grew 9% organically due to double-digit increases in surface systems, completions and artificial lift.

Reservoir Performance also delivered 9% growth, underpinned by strong stimulation and intervention activity in the production space.

Digital & Integration revenue increased 10% year on year, driven by 20% growth in digital, which reached $2.44 billion for the year.

Accelerated adoption of our digital technologies marked a milestone year, highlighted by strategic collaborations with cross-industry leaders, the launch of the Lumi™ data and AI platform, new Performance Live™ centers to enable remote operations, and the achievement of fully autonomous drilling operations.

Our fit-for-basin approach, domain expertise and integration capabilities have established us as the performance partner of choice for addressing the operating challenges our customers face throughout the life cycle of their assets.

As operators across the industry increasingly prioritize production and recovery, our strengths are more critical than ever.

With the anticipated completion of our announced acquisition of ChampionX, we are set to further strengthen our production and recovery capabilities, enabling us to deliver even greater value to our customers.

This strategic acquisition will also enhance the resilience of the SLB portfolio, providing some stability against the cycles in the years to come.

While upstream investment growth will remain subdued in the short term due to global oversupply, we anticipate that the oil supply imbalance will gradually abate.

Global economic growth and a heightened focus on energy security, coupled with rising energy demand from AI and data centers will support the investment outlook for the oil and gas industry throughout the rest of the decade.

In our Core business, we are making unmatched contributions to the discovery, development and extraction of oil and gas reserves, fueling global energy supply.

We have the leading offering in digital.

And we are pursuing a meaningful opportunity in New Energy and decarbonization, where we have established a differentiated market position.

Together, this is laying a strong foundation for our business.

Additionally, we entered into accelerated share repurchase transactions to repurchase $2.3 billion of SLB common stock.

This positions us to increase total return to shareholders, in the form of dividends and share repurchases, from $3.3 billion in 2024 to at least $4 billion in 2025.

| Digital & Integration | $ | 1,156 | | | $ | 442 | | | $ | 1,088 | | | $ | 386 | |

| Reservoir Performance | | 1,810 | | | | 370 | | | | 1,823 | | | | 367 | |

| Well Construction | | 3,267 | | | | 681 | | | | 3,312 | | | | 714 | |

| Production Systems | | 3,197 | | | | 506 | | | | 3,103 | | | | 519 | |

| Eliminations & other | | (146 | ) | | | (81 | ) | | | (167 | ) | | | (84 | ) |

| Corporate & other (1) | | | | | | (177 | ) | | | | | | | (187 | ) |

| | $ | 9,284 | | | $ | 1,387 | | | $ | 9,159 | | | $ | 1,507 | |

Fourth-quarter revenue of $9.3 billion increased 1% sequentially, driven by digital sales in North America and higher activity in the Middle East, Europe and North Africa.

On a divisional basis, Digital & Integration led the growth, driven by increased demand for digital products and solutions, while Production Systems benefited from strong backlog conversion as customers continued to invest in maximizing recovery from existing assets.

These gains were offset by weaker performance in Saudi Arabia and Australia.

Europe & Africa also grew 2% sequentially largely driven by increased activity in Europe and North Africa.

Revenue in Latin America declined 3% sequentially primarily due to reduced drilling activity in Mexico.

North America revenue of $1.8 billion increased 4% sequentially due to higher digital sales, increased sales of production systems, and increased drilling activity in U.S. land and Canada.

Digital & Integration revenue of $1.2 billion increased 6% sequentially driven by 10% growth in digital revenue, supported by greater adoption of digital technologies and higher sales of exploration data, particularly in the U.S. Gulf of Mexico.

Asset Performance Solutions (“APS”) revenue was flat sequentially.

Reservoir Performance revenue of $1.8 billion declined 1% sequentially driven by reduced intervention and stimulation activity, partially offset by stronger evaluation activity.

Revenue was impacted by lower stimulation and intervention work in Saudi Arabia, which was offset by increased activity in the rest of the Middle East & Asia and North America.

2023 was a remarkable year marked by widespread revenue growth, margin expansion, and exceptional cash flow.

Our strong full-year performance was fueled by substantial international growth, with approximately 90% of our international GeoUnits posting year-on-year increases, complemented by sustained performance in North America.

Notably, we achieved our highest-ever revenue in the Middle East, led by impressive growth in Saudi Arabia, the United Arab Emirates, and Egypt & East Mediterranean GeoUnits.

In the offshore basins, we benefited from long-cycle developments, capacity expansions, and exploration and appraisal activities with remarkable growth in Brazil and Angola, and solid increases in the US Gulf of Mexico, Guyana, and Norway.

In North America, while activity moderated as expected in the second half of the year, revenue increased 12% year on year, outpacing the rig count.

This outperformance was driven by our technology-leveraged portfolio in both US land and the US Gulf of Mexico.

On a divisional basis, our Core business—comprising Reservoir Performance, Well Construction, and Production Systems—accelerated, growing revenue 20% year on year and expanding pretax segment operating margin 277 bps.

Digital & Integration revenue increased 4% year on year.

This was led by digital, which continued strong growth momentum, delivering more than $2 billion in revenue.

Our success in digital was driven by further adoption of Delfi technology and customers embracing our connected and autonomous drilling, data, and AI solutions.

We also saw continued adoption of our Transition Technologies portfolio as customers look to enhance efficiency and reduce emissions.

The imperative to operate more sustainably is translating into tangible investments by our customers, resulting in the portfolio generating more than $1 billion of revenue.

As global energy demand continues to increase, international production is expected to play a key role in meeting supply through the end of the decade.

Notably, we anticipate record investment levels in the Middle East extending beyond 2025, with significant expansion in Saudi Arabia, the United Arab Emirates, Iraq, and Kuwait.

Offshore remains another distinct attribute of this durable growth cycle, serving as an important source for production growth and capacity additions, and we expect strong activity to continue in Brazil, West Africa, the Eastern Mediterranean, the Middle East, and Southeast Asia.

In the international environment, despite elevated geopolitical tensions in various regions, we do not anticipate a significant impact on the sector's overall activity, absent any escalation.

Furthermore, we expect the long-cycle investments across the Middle East, global offshore, and gas resource plays to be largely decoupled from short-term commodity price fluctuations.

In 2024, SLB expects to experience another year of strong growth driven by the international markets.

Benefiting from these market dynamics, we foresee further growth led by Production Systems, strengthened by the additional subsea opportunities from our OneSubsea joint venture.

Sustained momentum is expected in Reservoir Performance, accompanied by increased activity in Well Construction.

Additionally, we expect continued customer adoption of our Digital business, particularly in our new technology platforms.

Our performance and returns-focused strategy, combined with our differentiated market positioning and digital capabilities, will drive profitable growth and further margin expansion, setting a strong foundation for long-term outperformance.

Additionally, we plan to increase share repurchases in 2024, visibly enhancing returns to shareholders for the full year.

| Digital & Integration | $ | 1,049 | | | $ | 356 | | | $ | 982 | | | $ | 314 | |

| Reservoir Performance | | 1,735 | | | | 371 | | | | 1,680 | | | | 344 | |

| Well Construction | | 3,426 | | | | 770 | | | | 3,430 | | | | 759 | |

| Production Systems | | 2,944 | | | | 442 | | | | 2,367 | | | | 319 | |

| Eliminations & other | | (164 | ) | | | (71 | ) | | | (149 | ) | | | (53 | ) |

| Corporate & other (1) | | | | | | (193 | ) | | | | | | | (182 | ) |

| | $ | 8,990 | | | $ | 1,433 | | | $ | 8,310 | | | $ | 1,395 | |

Fourth-quarter revenue of $9.0 billion increased 8% sequentially with the acquired Aker subsea business accounting for approximately 70% of the growth, while the legacy portfolio continued its growth trajectory in the international markets.

Europe & Africa increased 16% sequentially driven by the acquired Aker subsea business, which accounted for most of the sequential revenue growth, primarily in Scandinavia.

North America revenue of $1.6 billion was flat sequentially as reduced drilling activity in US land and Canada was offset by higher offshore revenue in the US Gulf of Mexico.

Compared to the same quarter last year, fourth-quarter 2023 international revenue outpaced North America, growing 18%, while North America was relatively flat.

Excluding the acquired Aker subsea business, international revenue grew 10% year on year, marking the 10th consecutive quarter of double-digit growth.

Fourth-quarter 2023 pretax segment operating income margin of 21% increased year on year, representing the 12th consecutive quarter of growth.

Digital & Integration revenue of $1.0 billion increased 7% sequentially due to increased digital revenue across all areas led by the Middle East & Asia and Europe & Africa.

Reservoir Performance revenue of $1.7 billion grew 3% sequentially primarily due to increased activity internationally, mainly in the Middle East and Africa.

Reservoir Performance pretax operating margin of 21% expanded 88 bps sequentially and represents the Division’s highest level of pretax operating margin in this cycle.

This increase was primarily driven by higher activity, pricing, and improved operating leverage.

Approximately [removed: 72%] [added: 70%] of SLB’s revenue in [removed: 2023] [added: 2024] was denominated in US dollars.

A 10% appreciation in the US dollar from the December 31, [removed: 2023] [added: 2024] market rates would decrease the unrealized value of SLB’s forward contracts by [removed: $103] [added: $121] million.

Conversely, a 10% depreciation in the US dollar from the December 31, [removed: 2023] [added: 2024] market rates would increase the unrealized value of SLB’s forward contracts by [removed: $113] [added: $133] million.

At December 31, [removed: 2023,] [added: 2024, forward] contracts [removed: were outstanding] for the US dollar equivalent of [removed: $10.6] [added: $10.0] billion in various foreign [removed: currencies,] [added: currencies were outstanding,] of which [removed: $5.3] [added: $4.5] billion related to hedges of debt balances denominated in currencies other than the functional currency.

Statements in this Form 10-K are made as of January [removed: 24, 2024,] [added: 22, 2025,] and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

This Form 10-K also includes forward-looking statements relating to the proposed transaction between SLB and ChampionX, including statements regarding the benefits of the transaction and the anticipated timing of the transaction.

Factors and risks that may impact future results and performance include, but are not limited to, and in each case as a possible result of the proposed transaction on each of SLB and ChampionX: the ultimate outcome of the proposed transaction between SLB and ChampionX; the ability to operate the SLB and ChampionX respective businesses, including business disruptions; difficulties in retaining and hiring key personnel and employees; the ability to maintain favorable business relationships with customers, suppliers and other business partners; the terms and timing of the proposed transaction; the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed transaction; the anticipated or actual tax treatment of the proposed transaction; the ability to satisfy closing conditions to the completion of the proposed transaction; other risks related to the completion of the proposed transaction and actions related thereto; the ability of SLB and ChampionX to integrate the business successfully and to achieve anticipated synergies and value creation from the proposed transaction; the ability to secure government regulatory approvals on the terms expected, at all or in a timely manner; litigation and regulatory proceedings, including any proceedings that may be instituted against SLB or ChampionX related to the proposed transaction,

as well as the risk factors discussed in SLB’s and ChampionX’s most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the SEC.

Offerings are founded upon proprietary and open-source data platform technologies, industry-leading [removed: simulators] [added: simulators,] and workflow tools, and include domain-specific application of innovative digital capabilities, such as artificial intelligence [added: ("AI")] and machine learning.

[removed: *Exploration data and data processing:* Provides] [added: Digital Solutions also provides] comprehensive [removed: worldwide] reservoir interpretation and data processing services, enabled by a scientifically advanced platform and innovative subsurface imaging techniques for exploration data, and includes one of the industry’s most extensive exploration data libraries.

As of December 31, [removed: 2023,] [added: 2024,] SLB’s APS portfolio primarily consisted of three field production projects in Ecuador and one in Canada.

Well Construction provides operators and drilling rig manufacturers with services and products related to [removed: designing] [added: the design] and [removed: constructing] [added: construction of] a well.

[removed: *Drilling & Measurements:*] [added: *Measurements:*] Provides [added: services and associated engineering support for] mud logging [removed: services] for geological and drilling surveillance, directional drilling, measurement-while-drilling, and logging-while-drilling services for all well [removed: profiles as well as engineering support.][added: profiles.]

*Drilling Fluids:* Supplies individually engineered drilling fluid systems that improve drilling performance and maintain well control and wellbore stability throughout drilling [removed: operations.][added: operations as well as products and services that secure and protect well casings while isolating fluid zones and maximizing wellbore activity.]

[removed: *Drill Bits:*] [added: *Drilling:*] Designs, manufactures, and markets roller cone and fixed cutter drill bits for all drilling [removed: environments.][added: environments, as well as a wide variety of bottomhole assembly and borehole enlargement technologies for drilling operations.]

*Integrated Well Construction:* Provides integrated solutions to construct or change the architecture [removed: (re-entry)] of wells, including well planning, well [removed: drilling,] [added: drilling (including autonomous drilling),] engineering, supervision, logistics, procurement and contracting of third parties, and drilling rig management.

[removed: *Rigs and Equipment*:] [added: *Equipment*:] Provides drilling equipment, including pressure control equipment and rotary drilling equipment, and services for [removed: shipyards,] drilling contractors, operators, and rental tool companies, [added: and shipyards] as well as land drilling rigs and related services.

Production Systems – Develops technologies and provides expertise that [removed: enhance] [added: enhances] production and recovery from subsurface reservoirs to the surface, into pipelines, and to refineries.

*Artificial Lift:* Provides [removed: production equipment and optimization services] [added: lifting solutions] using electrical submersible pumps, gas lift equipment, progressing cavity pumps, and surface horizontal pumping systems.

[removed: *Completions Equipment:*] [added: *Completions:*] Supplies well completion services and equipment that [removed: include] [added: includes] packers, safety valves, and sand control technology, as well as a range of intelligent [removed: well completions technology] [added: systems that enable real-time visibility] and [removed: equipment.][added: performance monitoring.]

[removed: *Surface:*] [added: *Surface Production Systems:*] Designs and manufactures onshore and offshore [removed: platform wellhead] systems [removed: and processing solutions,] including [added: wellheads,] valves, chokes, actuators, and surface trees, and provides [added: fracturing and flow back] services to operators.

*Valves:* Serves [removed: portions of] the upstream, midstream, and downstream markets [removed: and provides valve products] [added: with a broad portfolio of valves] that are primarily used to control and direct the flow of hydrocarbons as they are moved from wellheads through flow lines, gathering lines, and transmission systems to refineries, petrochemical plants, and industrial centers for processing.

[removed: *Processing:*] [added: *Midstream Production Systems:*] Enables efficient monetization of subsurface assets using standard and custom-designed onshore, offshore, and downstream processing and [added: chemical] treatment systems, as well as unique, reservoir-driven, fit-for-purpose integrated production systems for accelerating first production and maximizing project economics.

[removed: *OneSubsea*™*:* Provides] [added: *Subsea Production Systems:* Through its *OneSubsea*™ joint venture, provides] integrated solutions, products, systems, and services for the subsea market, including [removed: integrated subsea production systems involving] wellheads, subsea trees, manifolds and flowline connectors, control systems, connectors and services designed to maximize reservoir recovery and extend the life of each field.

The Basins are further organized into GeoUnits, which can be a region, a single country, or [removed: made up of] [added: comprise] several countries.

These centers also support SLB's [removed: New Energy] investments in lower carbon energy sources and carbon capture technologies.

With a balanced energy transition in mind, our strategy is focused on three engines of growth: Core, [removed: Digital] [added: Digital,] and New Energy.

Building on decades of technology advancement, we will continue innovating new products, services and technologies that make the exploration, development and production of oil and gas assets cleaner, more [removed: resilient,] [added: cost effective,] and more efficient, with lower carbon emissions and less impact on the environment.

Digital capabilities continue to grow throughout the energy industry as a key element of the complex systems required to meet current energy [removed: demand] [added: demand, improve efficiency] and to harness the promise of a lower-carbon future.

SLB’s customers have access to leading digital products [removed: and services] that help to meet their sustainability goals by driving transparency, better measurement, more effective planning, and more impactful and reliable outcomes.

To continue elevating customer offerings, we are accelerating the adoption of our proprietary [removed: cloud offering Delfi™, enabling enterprise data management, delivering autonomous operations,] [added: Delfi™ offering, an open, scalable,] and [removed: innovating through domain-driven artificial intelligence.][added: secure cloud-based software environment.]

This enables customers to evolve from legacy infrastructure and deliver new levels of value creation, with access to key resources such as storage and [added: increased] computing [added: power] from our cloud partners and [removed: access to] our industry-leading simulators.

SLB will continue building businesses and forging partnerships across various industries to focus on [removed: five] [added: three] key areas: [removed: carbon solutions, hydrogen, geothermal] [added: Industrial Decarbonization, Renewables] and [removed: geoenergy, stationary energy storage,] [added: Energy Efficiency,] and [removed: critical minerals.][added: Critical Minerals.]

[removed: The Company is actively progressing CCS technologies to enable widespread adoption of CCS and is going] [added: Our expertise extends] beyond subsurface characterization and well construction to include capture technology, project economics, technology selection, and permitting.

[removed: One such investment is] [added: SLB has also invested in] Genvia, a unique private-public partnership that combines SLB’s expertise and experience with that of the French Atomic Energy and Alternative Energies Commission and partners.

[removed: *Geothermal and Geoenergy:*] Geothermal power leverages the heat of the earth to generate electricity or provide heat directly, by tapping into subsurface hot water and steam [removed: zones that are continuously recharged, both naturally and by injection.][added: zones.]

Geoenergy uses the ambient temperatures beneath the earth's surface to act as a thermal battery and dramatically reduce energy consumption from heating and cooling buildings, [removed: electrify and, therefore, drive] [added: driving] both efficiency and decarbonization.

[removed: *Stationary Energy Storage:*] Stationary energy storage is a key enabler to make variable renewable energy sources (such as solar or wind) a larger component of the world’s electricity systems enabling power to be delivered in the right place, at the right time, to meet demand.

[removed: *Critical Minerals:*] [added: Critical Minerals is a business area where] SLB is applying its knowledge of extraction technologies and processing to the location and [removed: sources] [added: sourcing] of critical minerals, such as lithium from brine deposits, [removed: that] [added: which] will be required to support the energy transition.

There are three key components to SLB achieving the 2050 net-zero target: reducing operational emissions, reducing customer emissions that occur while using SLB technology, and taking carbon-negative actions of sufficient scale to offset any residual operating and technology emissions that [removed: the Company] [added: SLB] may have in 2050.

This portfolio is supported by an [removed: industry-leading] impact quantification framework and will continue to grow as sustainability is further embedded in [removed: the Company’s] [added: SLB’s] research and development process.

As a leading global technology company that operates in more than 100 countries with a workforce of approximately [removed: 111,000] [added: 110,000] people from diverse backgrounds, cultures, and nationalities, one of SLB’s greatest strengths is the diversity of our people.

| [removed: ] [added: ] | | [removed: ] [added: ] |

SLB has numerous [added: global] policies and programs to support our inclusive culture, including:

a [removed: global] Code of Conduct that outlines the standards of behavior and ethics that all employees are expected to follow, and that prohibits any form of discrimination, harassment, or retaliation;

a [removed: global] diversity, equity, and inclusion (“DEI”) strategy [removed: with] [added: supported by] a network of [removed: diversity and] inclusion champions that promote DEI awareness and best practices; and

a [removed: global] mobility program that enables employees to gain international exposure and experience and develop cross-cultural competencies.

This [added: investment] allows us to accelerate personal development while maximizing performance, fostering an agile workforce with the skills necessary to lead SLB today and into the future.

*Evaluation:* Provides the measurement, interpretation, and insights necessary to understand the subsurface geology and fluids through wireline logging, downhole testing and rock and fluid analysis services.

*Stimulation*: Provides services to restore or enhance well productivity through hydraulic fracturing, matrix stimulation, and water treatment.

*Intervention*: Provides a comprehensive approach to oil and gas operators to increase their intervention success rates and maximize recovery from brownfields through cased hole wireline and perforations, coiled-tubing interventions, slickline, and reservoir monitoring.

*ChampionX Transaction*

On April 2, 2024, SLB announced a definitive agreement to purchase ChampionX Corporation ("ChampionX") in an all-stock transaction.

ChampionX is a global leader in chemistry solutions, artificial lift systems, and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely, efficiently, and sustainably around the world.

Under the terms of the agreement, ChampionX shareholders will receive 0.735 shares of SLB common stock in exchange for each ChampionX share.

At the closing of the transaction ChampionX shareholders will own approximately 9% of SLB's outstanding shares of common stock.

ChampionX reported revenue of approximately $2.7 billion for the nine months ended September 30, 2024.

The transaction, which is subject to regulatory approvals and other customary closing conditions, received the approval of the ChampionX stockholders at a special meeting held on June 18, 2024.

It is anticipated that the transaction will close in the first quarter of 2025.

SLB is uniquely positioned to support customers on their digital journeys by providing an offering which spans planning and operational workflows, underpinned by a data platform which allows customers to realize efficiency gains through AI.

Through our LumiTM data and AI platform, we also enable data-driven decision making for our customers across the energy industry.

Data from a wide variety of sources across the subsurface and operations value chain can be accessed, facilitating AI-driven decision making at scale.

The platform can connect diverse industry data sources, inclusive of on-premises data platforms and customer data infrastructure.

We are also focused on using digital technology to enhance operational performance for our customers.

Our software products sold directly to customers, which are agnostic to equipment provider, enable automation and autonomy to reduce cost and improve performance.

However, we also provide digital services to enhance the SLB equipment and service offering in our Core Divisions.

Many of these services use embedded AI to automate insights and differentiate our service delivery offering.

Industrial Decarbonization focuses on providing technology and business solutions in the field of carbon capture and sequestration (“CCS”) and low-carbon hydrogen for hard-to-abate industries.

SLB has been in the CCS business for more than three decades and is actively progressing technologies to enable widespread adoption of CCS at scale.

This includes the recent establishment of SLB Capturi, offering a modular product platform of industrial-scale carbon capture solutions.

Renewables and Energy Efficiency refers to our technology and business solutions designed to enable renewable energy expansion and greater energy efficiency, with a focus on geothermal, geoenergy, and energy storage.

An example of this is our demonstration plant in Clayton Valley, Nevada, which integrates direct lithium extraction, concentration and conversion technologies to more sustainably produce lithium at scale.

This is achieved much faster than conventional methods, while using significantly less land, water and chemical reagents.

We reached our first milestone ahead of schedule, as women represented 25% of our salaried workforce as of December 31, 2024.

We encourage a growth mindset and provide opportunities to our people for continuous learning throughout their career.

*Wireline:* Provides the information necessary to evaluate subsurface geology and fluids to plan and monitor well construction and to monitor and evaluate well production through both openhole and cased hole services, including wireline logging and perforating.

*Testing:* Provides exploration and production pressure and flow-rate measurement services both at the surface and downhole supported by a network of laboratories that facilitate rock and fluid characterization.

*Stimulation and Intervention*: Provides services used during well completions, as well as those used to maintain optimal production throughout the life of a well, including pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention and coiled-tubing drilling, reservoir monitoring, and downhole data acquisition.

*Drilling Tools*: Includes a wide variety of bottomhole assembly and borehole enlargement technologies for drilling operations.

*Well Cementing*: Provides products and services that secure and protect well casings while isolating fluid zones and maximizing wellbore activity.

On October 2, 2023, SLB, Aker Solutions (“Aker”), and Subsea7 closed their previously announced joint venture.

The new business, OneSubsea, will drive innovation and efficiency in subsea production by helping customers unlock reserves and reduce cycle time.

OneSubsea now comprises SLB’s and Aker’s subsea businesses, which include an extensive complementary subsea production and processing technology portfolio, world-class manufacturing scale and capacity, access to industry-leading reservoir and digital domain expertise, unique pore-to-process integration capabilities, and strengthened research and development capabilities.

SLB owns 70% of the joint venture, while Aker owns 20% and Subsea7 owns 10%.

As the majority owner and controlling entity, SLB is considered the acquirer and reflects OneSubsea as a consolidated subsidiary in its *Consolidated Financial Statements*.

SLB is uniquely positioned to support customers on their digital journeys by managing data migration, workflow redesign, and transition to the cloud.

Our ambition is to seed technology capabilities in each of these domains, and then grow throughout the decade, ultimately scaling our New Energy offering into the Company’s fastest growing and largest division.

*Carbon Solutions*: Carbon capture, and sequestration (“CCS”) is critical to advancing decarbonization and achieving the goals of the Paris Agreement on climate change.

With industry-leading reservoir modeling capabilities, SLB has been in the CCS business for more than three decades.

*Hydrogen:* SLB is investing in low-carbon hydrogen generation technologies.

| | | |

As of December 31, 2023, women represented just under 25% of our salaried workforce.

We strive to identify talent early, and to provide employees who demonstrate exceptional performance with opportunities to progress to higher levels within the organization.

Furthermore, customer spending patterns for exploration

| Katharina Beumelburg | 47 | Chief Strategy and Sustainability Officer, since May 2021; Senior Vice President, Transmission Service, Siemens Energy, Siemens AG (a multinational industrial manufacturing company), April 2020 to May 2021; and Executive Vice President, Strategy, Siemens Gas and Power, Siemens AG, November 2016 to April 2020. |

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

[removed: ][added: ]

Registrant’s telephone number including area [removed: code, is:] [added: code:] (713) 513-2000

As of June 30, [removed: 2023,] [added: 2024,] the aggregate market value of the common stock of the registrant held by non-affiliates of the registrant was approximately [removed: $69.70] [added: $66.86] billion.

As of December 31, [removed: 2023,] [added: 2024,] the number of shares of common stock outstanding was [removed: 1,427,394,843.][added: 1,400,850,420.]

Certain information required to be furnished pursuant to Part III of this Form 10-K is set forth in, and is incorporated by reference from, the registrant’s definitive proxy statement for its [removed: 2024] [added: 2025] Annual General Meeting of Shareholders, to be filed by the registrant with the Securities and Exchange Commission (“SEC”) pursuant to Regulation 14A within 120 days after December 31, [removed: 2023] [added: 2024] (the [removed: “2024] [added: “2025] Proxy Statement”).

| Item 7A. | [Quantitative and Qualitative Disclosures About Market Risk](#item_7a_quantitative_qualitative_disclos) | [removed: 28] [added: 27] |

| Item 9. | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](#item_9_changes_in_disagreements_with_acc) | [removed: 60] [added: 62] |

| Item 9A. | [Controls and Procedures](#item_9a_controls_procedures) | [removed: 60] [added: 62] |

| Item 9B. | [Other Information](#item_9b_or_information) | [removed: 60] [added: 62] |

| Item 9C. | [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](#item_9c_disclosure_regarding) | [removed: 60] [added: 62] |

| Item 10. | [Directors, Executive Officers and Corporate Governance](#item_10_governance) | [removed: 61] [added: 63] |

| Item 11. | [Executive Compensation](#item_11_executive) | [removed: 61] [added: 63] |

| Item 12. | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](#item_12_security_ownership_certain_benef) | [removed: 61] [added: 63] |

| Item 13. | [Certain Relationships and Related Transactions, and Director Independence](#item_13_certain_relationships_related_tr) | [removed: 61] [added: 63] |

| Item 14. | [Principal Accounting Fees and Services](#item_14_principal_accounting_fees_servic) | [removed: 61] [added: 63] |

| Item 15. | [Exhibits and Financial Statement Schedules](#item_15_exhibits) | [removed: 62] [added: 64] |

| Item 16. | [Form 10-K [removed: Summary](#item_16_form_10k_summary)] [added: Summary](#item_16)] | [removed: 65] [added: 67] |

| | [Signatures](#signatures) | [removed: 66] [added: 68] |

This program is integrated within the Company’s enterprise risk management system and addresses both the corporate information technology environment and customer-facing [removed: products.][added: products and services.]

SLB has a [removed: Cyber Security] [added: Cybersecurity] Operations Center operating in three locations to provide 24/7 monitoring of its global cybersecurity environment and to coordinate the investigation and remediation of alerts.

SLB engages with these partners to monitor and maintain the performance and effectiveness of products and services that are deployed in SLB’s [removed: environment.][added: environment as well as, if necessary, assist in responding to cyber attacks.]

SLB’s [removed: Cyber Security] [added: Cybersecurity] Director reports to SLB’s Chief Information Officer and is the head of the Company’s cybersecurity team.

The cybersecurity team has decades of experience selecting, deploying, and operating cybersecurity technologies, initiatives, and processes around the world, and relies on threat intelligence as well as other information obtained from governmental, [removed: public or] [added: public, and] private sources, including external consultants engaged by SLB.

In addition, cybersecurity risks are reviewed by the SLB Board of Directors, at least annually, as part of the Company’s [removed: corporate] [added: enterprise] risk [removed: mapping exercise.][added: management process.]

See “Risk Factors – Business and Operational Risks – Our operations are subject to cyber incidents that could have a material adverse effect on our [added: reputation,] business, financial condition, results of operations, and cash flows.”

As of December 31, [removed: 2023,] [added: 2024,] there were [removed: 21,444] [added: 20,762] stockholders of record.

It assumes $100 was invested on December 31, [removed: 2018] [added: 2019] in SLB common stock, in the S&P 500 Index and in the Philadelphia Oil Service Index, as well as the reinvestment of dividends on the last day of the month of payment.

[removed: ][added: ]

SLB [removed: had] cumulatively repurchased [removed: $1.7] [added: $3.5] billion of its common stock under this program as of December 31, [removed: 2023.][added: 2024.]

SLB's common stock repurchase program activity for the three months ended December 31, [removed: 2023] [added: 2024] was as follows:

| October 2024 | | 5,545.1 | | | $ | 42.80 | | | | 5,545.1 | | | $ | 6,805,195 | |

| November 2024 | | 2,992.6 | | | $ | 42.47 | | | | 2,992.6 | | | $ | 6,678,093 | |

| December 2024 | | 3,221.6 | | | $ | 42.45 | | | | 3,221.6 | | | $ | 6,541,326 | |

| | | 11,759.3 | | | $ | 42.62 | | | | 11,759.3 | | | | | |

None.

| October 2023 | | 598.9 | | | $ | 58.10 | | | | 598.9 | | | $ | 8,343,538 | |

| November 2023 | | 618.2 | | | $ | 53.96 | | | | 618.2 | | | $ | 8,310,182 | |

| December 2023 | | 619.9 | | | $ | 51.44 | | | | 619.9 | | | $ | 8,278,295 | |

| | | 1,837.0 | | | $ | 54.46 | | | | 1,837.0 | | | | | |

On October 2, 2023, SLB, Aker and Subsea7 closed their previously announced joint venture.

In addition to contributing its subsea business to the joint venture, at closing SLB issued 5.1 million shares of its common stock valued at $306.5 million to Aker through a private placement pursuant to Rule 144A.

| Year Ended December 31, | [removed: 2023] [added: 2024] | | | | [removed: 2022] [added: 2023] | | | | [removed: 2021] [added: 2022] | | |

| Services | $ | [removed: 22,439] [added: 23,297] | | | $ | [removed: 19,552] [added: 22,439] | | | $ | [removed: 15,602] [added: 19,552] | |

| Product sales | | [removed: 10,696] [added: 12,992] | | | | [removed: 8,539] [added: 10,696] | | | | [removed: 7,327] [added: 8,539] | |

| *Total Revenue* | | [removed: 33,135] [added: 36,289] | | | | [removed: 28,091] [added: 33,135] | | | | [removed: 22,929] [added: 28,091] | |

| *Interest & other income, net* | | [removed: 342] [added: 380] | | | | [removed: 610] [added: 342] | | | | [removed: 148] [added: 610] | |

| Cost of services | | [removed: 17,231] [added: 17,847] | | | | [removed: 15,233] [added: 17,231] | | | | [removed: 13,129] [added: 15,233] | |

| Cost of sales | | [removed: 9,341] [added: 10,982] | | | | [removed: 7,697] [added: 9,341] | | | | [removed: 6,142] [added: 7,697] | |

| Research & engineering | | [removed: 711] [added: 749] | | | | [removed: 634] [added: 711] | | | | [removed: 554] [added: 634] | |

| General & administrative | | [removed: 364] [added: 385] | | | | [removed: 376] [added: 364] | | | | [removed: 339] [added: 376] | |

| Merger & integration | [added: $] | [removed: 45] [added: 25] | | | [added: $] | [removed: \-] [added: 6] | | | [added: $] | [removed: \-] [added: 5] | | [added: | $ | 14 | |]

| Interest | | [removed: 503] [added: 512] | | | | [removed: 490] [added: 503] | | | | [removed: 539] [added: 490] | |

| *Income before taxes* | | [removed: 5,282] [added: 5,672] | | | | [removed: 4,271] [added: 5,282] | | | | [removed: 2,374] [added: 4,271] | |

| Tax expense | | [removed: 1,007] [added: 1,093] | | | | [removed: 779] [added: 1,007] | | | | [removed: 446] [added: 779] | |

| *Net income* | | [removed: 4,275] [added: 4,579] | | | | [removed: 3,492] [added: 4,275] | | | | [removed: 1,928] [added: 3,492] | |

| Net income attributable to noncontrolling interests | | [removed: 72] [added: 118] | | | | [removed: 51] [added: 72] | | | | [removed: 47] [added: 51] | |

| *Net income attributable to SLB* | $ | [removed: 4,203] [added: 4,461] | | | $ | [removed: 3,441] [added: 4,203] | | | $ | [removed: 1,881] [added: 3,441] | |

| Basic earnings per share of SLB | $ | [removed: 2.95] [added: 3.14] | | | $ | [removed: 2.43] [added: 2.95] | | | $ | [removed: 1.34] [added: 2.43] | |

| Diluted earnings per share of SLB | $ | [removed: 2.91] [added: 3.11] | | | $ | [removed: 2.39] [added: 2.91] | | | $ | [removed: 1.32] [added: 2.39] | |

| Basic | | [removed: 1,425] [added: 1,421] | | | | [removed: 1,416] [added: 1,425] | | | | [removed: 1,400] [added: 1,416] | |

| Assuming dilution | | [removed: 1,443] [added: 1,436] | | | | [removed: 1,437] [added: 1,443] | | | | [removed: 1,427] [added: 1,437] | |

| [added: |] *(Stated in millions)* | | | | | | | | | | | | [added: | | |]

| Year Ended December 31, | [removed: 2023] [added: 2024] | | | | [removed: 2022] [added: 2023] | | | | [removed: 2021] [added: 2022] | | |

| *Net income* | $ | [removed: 4,275] [added: 4,579] | | | $ | [removed: 3,492] [added: 4,275] | | | $ | [removed: 1,928] [added: 3,492] | |

| [removed: *Currency] [added: Currency] translation [removed: adjustments*] [added: adjustments:] | | | | | | | | | | | |

| Net change arising during the period | | [removed: (113] [added: (138] | ) | | | [removed: (26] [added: (113] | ) | | | [removed: 83] [added: (26] | [added: )] |

| [removed: *Cash] [added: Cash] flow [removed: hedges*] [added: hedges:] | | | | | | | | | | | |

| Net gain (loss) on cash flow hedges | | [removed: 177] [added: 8] | | | | [removed: (148] [added: 177] | [removed: )] | | | [removed: (12] [added: (148] | ) |

| Reclassification to net income of net realized (gain) loss | | [removed: (19] [added: (4] | ) | | | [removed: 117] [added: (19] | [added: )] | | | [removed: (3] [added: 117] | [removed: )] |

| [removed: *Pension] [added: Pension] and other postretirement benefit [removed: plans*] [added: plans:] | | | | | | | | | | | |

| Actuarial [removed: gain (loss)] [added: loss] arising during the period | | [removed: (437] [added: (582] | ) | | | [removed: (305] [added: (437] | ) | | | [removed: 1,075] [added: (305] | [added: )] |

| Amortization to net income of net actuarial [removed: loss] [added: losses] | | [removed: (12] [added: (3] | ) | | | [removed: 75] [added: (12] | [added: )] | | | [removed: 271] [added: 75] | |

| Income taxes on pension and other postretirement benefit plans | | [removed: 58] [added: 42] | | | | [removed: 24] [added: 58] | | | | [removed: (74] [added: 24] | [removed: )] |

| [removed: *Other*] [added: Other] | | [removed: (30] [added: 4] | [removed: )] | | | [removed: 1] [added: (30] | [added: )] | | | [removed: (3] [added: 1] | [removed: )] |

| [removed: *Comprehensive income*] [added: Comprehensive income] | | [removed: 3,876] [added: 3,883] | | | | [removed: 3,207] [added: 3,876] | | | | [removed: 3,242] [added: 3,207] | |

| Comprehensive income attributable to noncontrolling interests | | [removed: 72] [added: 118] | | | | [removed: 51] [added: 72] | | | | [removed: 47] [added: 51] | |

| *Comprehensive income attributable to SLB* | $ | [removed: 3,804] [added: 3,765] | | | $ | [removed: 3,156] [added: 3,804] | | | $ | [removed: 3,195] [added: 3,156] | |

| December 31, | | [removed: 2023] [added: 2024] | | | | [removed: 2022] [added: 2023] | | |

| Cash | | $ | [removed: 2,900] [added: 3,544] | | | $ | [removed: 1,655] [added: 2,900] | |

| Short-term investments | | | [removed: 1,089] [added: 1,125] | | | | [removed: 1,239] [added: 1,089] | |

| Receivables less allowance for doubtful accounts [removed: (2023] [added: (2024] - [removed: $337; 2022] [added: $325; 2023] - [removed: $340)] [added: $337)] | | | [removed: 7,812] [added: 8,011] | | | | [removed: 6,766] [added: 7,812] | |

| Restructuring & other | | 399 | | | | \- | | | | \- | |

| Merger & integration | | 123 | | | | 45 | | | | \- | |

| | | | 18,570 | | | | 17,718 | |

| | | $ | 48,935 | | | $ | 47,957 | |

| | | | 12,811 | | | | 13,395 | |

| | | | 26,585 | | | | 26,598 | |

| | | | 22,350 | | | | 21,359 | |

| | | $ | 48,935 | | | $ | 47,957 | |

| Net income | | | | | | | | | | | 4,461 | | | | | | | | 118 | | | | 4,579 | |

| Stock repurchase program | | | | | | | (1,737 | ) | | | | | | | | | | | | | | | (1,737 | ) |

| Shares sold to optionees, less shares exchanged | | | (10 | ) | | | 39 | | | | | | | | | | | | | | | | 29 | |

| Balance, December 31, 2024 | | $ | 11,458 | | | $ | (1,773 | ) | | $ | 16,395 | | | $ | (4,950 | ) | | $ | 1,220 | | | $ | 22,350 | |

| Shares sold to optionees, less shares exchanged | | \- | | | | 1 | | | | 1 | |

| Stock repurchase program | | \- | | | | (38 | ) | | | (38 | ) |

| Balance, December 31, 2024 | | 1,439 | | | | (38 | ) | | | 1,401 | |

*Recently Announced Transaction*

On April 2, 2024, SLB announced a definitive agreement to purchase ChampionX Corporation ("ChampionX") in an all-stock transaction.

ChampionX is a global leader in chemistry solutions, artificial lift systems, and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely, efficiently, and sustainably around the world.

Under the terms of the agreement, ChampionX shareholders will receive 0.735 shares of SLB common stock in exchange for each ChampionX share.

At the closing of the transaction ChampionX shareholders will own approximately 9% of SLB's outstanding shares of common stock.

ChampionX reported revenue of approximately $2.7 billion for the nine months ended September 30, 2024.

The transaction, which is subject to regulatory approvals and other customary closing conditions, received the approval of the ChampionX stockholders at a special meeting held on June 18, 2024.

It is anticipated that the transaction will close in the first quarter of 2025.

See Note 10 - *Derivative Instruments and Hedging Activities* for details regarding outstanding credit default swaps that SLB has issued to certain financial institutions.

| Basic | | $ | 4,461 | | | | 1,421 | | | $ | 3.14 | |

| Diluted | | $ | 4,461 | | | | 1,436 | | | $ | 3.11 | |

SLB recorded the following charges and credits during 2024:

| *Second quarter:* | | | | | | | | | | | | | | | |

| Workforce reductions | | 111 | | | | 17 | | | | \- | | | | 94 | |

| Merger & integration | | 31 | | | | 5 | | | | 8 | | | | 18 | |

| Workforce reductions | | 65 | | | | 10 | | | | \- | | | | 55 | |

| Merger & integration | | 47 | | | | 10 | | | | 7 | | | | 30 | |

| Asset impairments | | 162 | | | | 23 | | | | \- | | | | 139 | |

| Merger & integration | | 63 | | | | 6 | | | | 7 | | | | 50 | |

| Workforce reductions | | 61 | | | | 10 | | | | \- | | | | 51 | |

| Gain on sale of investment | | (24 | ) | | | \- | | | | \- | | | | (24 | ) |

| | $ | 541 | | | $ | 87 | | | $ | 27 | | | $ | 427 | |

During the second quarter of 2024, SLB commenced a program to realign and optimize its support and service delivery structure in certain parts of its organization.

SLB may record additional charges relating to workforce reductions in 2025 as it continues to realign and optimize its structure.

In connection with the October 2023 acquisition of the Aker Solutions ("Aker") subsea business (see Note 6 - *Acquisition*) and the pending ChampionX transaction, SLB recorded $165 million of charges during 2024, consisting of: $43 million relating to the amortization of

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

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

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

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

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

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

| | | | 17,718 | | | | 15,003 | |

| | | | 13,395 | | | | 12,018 | |

| | | | 21,359 | | | | 17,989 | |

| | | $ | 47,957 | | | $ | 43,135 | |

| Balance, January 1, 2021 | | $ | 12,970 | | | $ | (3,033 | ) | | $ | 7,018 | | | $ | (4,884 | ) | | $ | 418 | | | $ | 12,489 | |

| Net income | | | | | | | | | | | 1,881 | | | | | | | | 47 | | | | 1,928 | |

| Deconsolidation of subsidiary | | | | | | | | | | | | | | | | | | | (123 | ) | | | (123 | ) |

| Balance, December 31, 2021 | | 1,434 | | | | (31 | ) | | | 1,403 | |

Due to the nature of its businesses, SLB does not have significant backlog.

| 2021: | | | | | | | | | | | | |

| Basic | | $ | 1,881 | | | | 1,400 | | | $ | 1.34 | |

| Diluted | | $ | 1,881 | | | | 1,427 | | | $ | 1.32 | |

SLB’s peso-denominated net assets in Argentina were approximately $75 million at December 31, 2023, primarily consisting of cash.

As of December 31, 2022, SLB had a 5% equity interest in Liberty.

transactions known as Blue Chip Swaps, which effectively results in a parallel US dollar exchange rate.

2021

| Unrealized gain on marketable securities | $ | (47 | ) | | $ | (11 | ) | | $ | (36 | ) |

| Early repayment of bonds | | 10 | | | | \- | | | | 10 | |

| | $ | (65 | ) | | $ | (15 | ) | | $ | (50 | ) |

*Third quarter 2021:*

During the third quarter of 2021, a start-up company that SLB previously invested in was acquired.

As a result of this transaction, SLB’s ownership interest was converted into shares of a publicly traded company.

SLB recognized an unrealized pretax gain of $47 million to increase the carrying value of this investment to its estimated fair value of approximately $55 million.

*Fourth quarter 2021:*

SLB sold 9.5 million of its shares of Liberty and received proceeds of $109 million.

As a result of this transaction SLB recognized a gain of $28 million.

On November 30, 2021, SLB deposited sufficient funds with the trustee for its $1.0 billion of 2.40% Senior Notes due 2022 to satisfy and discharge all of its obligations relating to such notes.

As a result of this transaction, SLB recorded a charge of $10 million.

| | $ | 4,387 | | | $ | 3,999 | |

| | | 29,965 | | | | 28,386 | |

| | $ | 7,240 | | | $ | 6,607 | |

The final determination of fair value for certain assets and liabilities will be completed as soon as the information necessary to complete the analysis is obtained.

These amounts, which may differ materially from these preliminary estimates, will be finalized as soon as possible, but no later than one year from the acquisition date.

| Balance, December 31, 2022 | | 2,044 | | | | 3,804 | | | | 6,281 | | | | 853 | | | | 12,982 | |

There has been no change in SLB’s internal control over financial reporting that occurred during the fourth quarter of [removed: 2023] [added: 2024] that has materially affected, or is reasonably likely to materially affect, SLB’s internal control over financial reporting.

SLB’s residual transactions or dealings with the government of Iran in [removed: 2023] [added: 2024] consisted of payments of taxes and other typical governmental charges.

On December 27, 2023, Olivier Le Peuch, CEO and a member of the SLB Board of Directors, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 240,000 shares of SLB’s common stock between April 29, 2024 and March 27, 2025, for a duration of 332 days.

The information set forth under the captions “Election of Directors,” “Corporate Governance—Process for Selecting New Directors,” and “Corporate Governance—Board Committees” in SLB’s [removed: 2024] [added: 2025] Proxy Statement is incorporated herein by reference.

The information set forth under the caption “Stock Ownership Information—Delinquent Section 16(a) Reports” in SLB’s [removed: 2024] [added: 2025] Proxy Statement is incorporated herein by reference to the extent any disclosure is required.

| Patrick de La Chevardière | Former Chief Financial Officer, [removed: Total] [added: TotalEnergies] S.A. |

SLB has a securities transactions policy governing the purchase, sale and other dispositions of its securities by directors, officers, and employees.

SLB believes that its securities transactions policy is reasonably designed to promote compliance with insider trading laws, rules and regulations, and any applicable listing standards.

A copy of SLB’s securities transactions policy is filed as Exhibit 19 to this Form 10-K.

| James Hackett | President, Tessellation Services |

| Tatiana A. Mitrova | Director, New Energy Advancement Hub |

| Ulrich Spiesshofer | Senior Advisor, The Blackstone Group |

| James Hackett | Former Chief Executive Officer, Anadarko Petroleum Corporation |

| Tatiana A. Mitrova | Research Fellow, Center on Global Energy Policy, School of International and Public Affairs at Columbia University |

| Ulrich Spiesshofer | Former President and Chief Executive Officer, ABB Ltd. |

The information set forth under the captions “Compensation Committee Report,” “Compensation Discussion and Analysis,” “Executive Compensation Tables,” “Pay vs. Performance Comparison,” and “Director Compensation” in SLB’s [removed: 2024] [added: 2025] Proxy Statement is incorporated herein by reference.

The information under the captions “Stock Ownership Information—Security Ownership by Management and Our Board,” “Stock Ownership Information—Security Ownership by Certain Beneficial Owners,” and “Executive Compensation Tables—Equity Compensation Plan Information” in SLB’s [removed: 2024] [added: 2025] Proxy Statement is incorporated herein by reference.

The information under the captions “Corporate Governance—Director Independence” and “Corporate Governance—Certain Relationships and Related Person Transactions” in SLB’s [removed: 2024] [added: 2025] Proxy Statement is incorporated herein by reference.

The information under the caption “Ratification of Appointment of Independent Auditors for [removed: 2024”] [added: 2025”] in SLB’s [removed: 2024] [added: 2025] Proxy Statement is incorporated herein by reference.

| | [Consolidated Statement of Income for the three years ended December 31, [removed: 2023](#consolidated_statement_income_loss)] [added: 2024](#consolidated_statement_income_loss)] | 29 |

| | [Consolidated Statement of Comprehensive Income for the three years ended December 31, [removed: 2023](#consolidated_statement_comprehensive_inc)] [added: 2024](#consolidated_statement_comprehensive_inc)] | 30 |

| | [Consolidated Balance Sheet at December 31, [removed: 2023] [added: 2024] and [removed: 2022](#consolidated_balance_sheet)] [added: 2023](#consolidated_balance_sheet)] | 31 |

| | [Consolidated Statement of Cash Flows for the three years ended December 31, [removed: 2023](#consolidated_statement_cash_flows)] [added: 2024](#consolidated_statement_cash_flows)] | 32 |

| | [Consolidated Statement of Stockholders’ Equity for the three years ended December 31, [removed: 2023](#consolidated_statement_stockholders_equi)] [added: 2024](#consolidated_statement_stockholders_equi)] | 33 and 34 |

| | [Notes to Consolidated Financial Statements](#notes_to_financial_statements) | 35 to [removed: 56] [added: 58] |

| | [Report of Independent Registered Public Accounting Firm](#report_independent_registered_public_acc) (PCAOB ID 238) | [removed: 58] [added: 60] |

| [Indenture dated as of December 3, 2013, by and among Schlumberger Investment [removed: SA,] [added: S](https://www.sec.gov/Archives/edgar/data/87347/000119312513460494/d637672dex41.htm).A.,] as issuer, Schlumberger Limited, as guarantor, and The Bank of New York Mellon, as trustee (incorporated by reference to Exhibit 4.1 to SLB’s Current Report on Form 8-K filed on December 3, [removed: 2013)](https://www.sec.gov/Archives/edgar/data/87347/000119312513460494/d637672dex41.htm)] [added: 2013)] | | 4.2 |

| [Second Supplemental Indenture dated as of June 26, 2020, by and among Schlumberger Investment [removed: SA,] [added: S](https://www.sec.gov/Archives/edgar/data/87347/000119312520180957/d925505dex41.htm).A.,] as issuer, Schlumberger Limited, as guarantor, and The Bank of New York Mellon, as trustee (including form of global notes representing 2.650% Senior Notes due 2030) (incorporated by reference to Exhibit 4.1 to SLB’s Current Report on Form 8-K filed on June 26, [removed: 2020)](https://www.sec.gov/Archives/edgar/data/87347/000119312520180957/d925505dex41.htm)] [added: 2020)] | | 4.3 |

| [Third Supplemental Indenture dated as of May 15, 2023, by and among Schlumberger Investment [removed: SA, as] [added: S](https://www.sec.gov/Archives/edgar/data/87347/000119312523145038/d289147dex41.htm).A.as] issuer, Schlumberger Limited, as guarantor, and The Bank of New York Mellon, as trustee [removed: (including] [added: [(including] form of global notes representing 4.500% Senior Notes due 2028 and form of global notes representing 4.850% Senior Notes due 2033) (incorporated by reference to Exhibit 4.1 to SLB’s Current Report on Form 8-K filed on May 15, 2023)](https://www.sec.gov/Archives/edgar/data/87347/000119312523145038/d289147dex41.htm) | | 4.4 |

| [Officers’ Certificate dated as of August 11, 2020, executed by Schlumberger Investment [removed: SA,] [added: S](https://www.sec.gov/Archives/edgar/data/87347/000119312520216304/d926535dex41.htm).A.,] as issuer, and Schlumberger Limited, as guarantor (including form of global notes representing 2.650% Senior Notes due 2030) (incorporated by reference to Exhibit 4.1 to SLB’s Current Report on Form 8-K filed on August 11, [removed: 2020)](https://www.sec.gov/Archives/edgar/data/87347/000119312520216304/d926535dex41.htm)] [added: 2020)] | | [removed: 4.5] [added: 4.6] |

| [Indenture dated as of September 18, 2020, by and among Schlumberger Finance Canada Ltd., as issuer, Schlumberger Limited, as guarantor, and The Bank of New York Mellon, as trustee (incorporated by reference to Exhibit 4.1 to SLB’s Current Report on Form 8-K filed on September 18, 2020)](https://www.sec.gov/Archives/edgar/data/87347/000119312520248823/d75000dex41.htm) | | [removed: 4.6] [added: 4.7] |

| [First Supplemental Indenture dated as of September 18, 2020, by and among Schlumberger Finance Canada Ltd., as issuer, Schlumberger Limited, as guarantor, and The Bank of New York Mellon, as trustee (including form of global notes representing 1.400% Senior Notes due 2025) (incorporated by reference to Exhibit 4.2 to SLB’s Current Report on Form 8-K filed on September 18, 2020)](https://www.sec.gov/Archives/edgar/data/87347/000119312520248823/d75000dex42.htm) | | [removed: 4.7] [added: 4.8] |

| [Schlumberger Technology Corporation Supplementary Benefit Plan, as established effective January 1, 1995 and conformed to include amendments through January 1, 2023 [removed: (*)] [added: (incorporated by reference to Exhibit 10.3 to SLB’s Annual Report on Form 10-K for the year ended December 31, 2023)] (+)](https://www.sec.gov/Archives/edgar/data/87347/000095017024006884/slb-ex10_3.htm) | | 10.3 |

| [Form of Indemnification Agreement [removed: (*)] [added: (incorporated by reference to Exhibit 10.19 to SLB’s Annual Report on Form 10-K for the year ended December 31, 2023)] (+)](https://www.sec.gov/Archives/edgar/data/87347/000095017024006884/slb-ex10_19.htm) | | 10.19 |

| [Significant Subsidiaries [removed: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017024006884/slb-ex21.htm)] [added: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017025007638/slb-ex21.htm)] | | 21 |

| [Issuers of Registered Guaranteed Debt Securities [removed: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017024006884/slb-ex22.htm)] [added: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017025007638/slb-ex22.htm)] | | 22 |

| [Consent of Independent Registered Public Accounting Firm [removed: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017024006884/slb-ex23.htm)] [added: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017025007638/slb-ex23.htm)] | | 23 |

| [Powers of Attorney [removed: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017024006884/slb-ex24.htm)] [added: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017025007638/slb-ex24.htm)] | | 24 |

| [Certification of Chief Executive Officer pursuant to Rule 13a-14(a) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 [removed: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017024006884/slb-ex31_1.htm)] [added: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017025007638/slb-ex31_1.htm)] | | 31.1 |

| [Certification of Chief Financial Officer pursuant to Rule 13a-14(a) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 [removed: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017024006884/slb-ex31_2.htm)] [added: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017025007638/slb-ex31_2.htm)] | | 31.2 |

| [Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 [removed: ()](https://www.sec.gov/Archives/edgar/data/87347/000095017024006884/slb-ex32_1.htm)] [added: ()](https://www.sec.gov/Archives/edgar/data/87347/000095017025007638/slb-ex32_1.htm)] | | 32.1 |

| [Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 [removed: ()](https://www.sec.gov/Archives/edgar/data/87347/000095017024006884/slb-ex32_2.htm)] [added: ()](https://www.sec.gov/Archives/edgar/data/87347/000095017025007638/slb-ex32_2.htm)] | | 32.2 |

| [Mine Safety Disclosure [removed: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017024006884/slb-ex95.htm)] [added: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017025007638/slb-ex95.htm)] | | 95 |

| [Policy for Recovery of Performance-Based Incentive Compensation from Executive Officers [removed: (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017024006884/slb-ex97.htm)] [added: (incorporated by reference to Exhibit 97 to SLB’s Annual Report on Form 10-K for the year ended December 31, 2023)](https://www.sec.gov/Archives/edgar/data/87347/000095017024006884/slb-ex97.htm)] | | 97 |

| [Agreement and Plan of Merger among Schlumberger Limited, Sodium Holdco, Inc., Sodium Merger Sub, Inc., and ChampionX Corporation, dated April 2, 2024 (incorporated by reference to Exhibit 2 to SLB’s Current Report on Form 8-K/A filed on April 2, 2024) (*)](https://www.sec.gov/Archives/edgar/data/87347/000119312524085160/d735749dex2.htm) | | 2 |

| [Fourth Supplemental Indenture dated as of May 29, 2024, by and among Schlumberger Investment S.A., as issuer, Schlumberger Limited, as guarantor, and The Bank of New York Mellon, as trustee (including form of global notes representing 5.000% Senior Notes due 2034) (incorporated by reference to Exhibit 4.1 to SLB’s Current Report on Form 8-K filed on May 29, 2024)](https://www.sec.gov/Archives/edgar/data/87347/000119312524149220/d808766dex41.htm) | | 4.5 |

| [Securities Transactions Policy (*)](https://www.sec.gov/Archives/edgar/data/87347/000095017025007638/slb-ex19.htm) | | 19 |

| | | |

| | | |

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

| | | Exhibit |

| (*) Certain of the exhibits and schedules to this exhibit have been omitted in accordance with Regulation S-K Item 601(b)(2). SLB agrees to furnish supplementally a copy of all omitted exhibits and schedules to the SEC upon its request. | | |

| | | |

| [Employment, Non-Competition and Non-Solicitation Agreement effective as of April 1, 2022, by and between Schlumberger Limited and Ashok Belani (incorporated by reference to Exhibit 10.1 to SLB’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022) (+)](https://www.sec.gov/Archives/edgar/data/87347/000156459022015889/slb-ex101_140.htm) | | 10.20 |

| Date: | | January [removed: 24, 2024] [added: 22, 2025] | | | SCHLUMBERGER LIMITED |

| /s/ Dianne B. Ralston | | January [removed: 24, 2024] [added: 22, 2025] |