HOUSTON, July 13, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced that it will hold Special Shareholder Meetings on September 3, 2026, to consider the Company's proposed redomestication from Ireland to Delaware. The definitive proxy statement for the meetings was filed with the U.S. Securities and Exchange Commission today and is being distributed to all shareholders.

The Weatherford Board of Directors unanimously recommends that shareholders vote FOR all proposals related to the proposed redomestication, which the Board believes will simplify the Company's organizational, statutory and regulatory structure while creating a more appropriate corporate framework to support Weatherford's long-term strategy. The expected financial benefits for Weatherford are estimated to be approximately $20 million to $30 million in annual cash savings beginning in 2027 if the redomestication and related corporate restructuring is completed in 2026. The Company views the redomestication transactions as a significant pillar in its continued improvement in adjusted free cash flow conversion.

Shareholders are reminded that new voting instructions are required for this meeting. Any votes submitted in connection with the Company's June 11, 2026, shareholder meetings will not be counted for the September 3 meetings.

To ensure your shares are voted, shareholders must complete and submit BOTH proxy cards, one for the Scheme Meeting and one for the Extraordinary General Meeting. Approval of the proposed redomestication requires shareholder approval at both meetings.

The definitive proxy statement contains important information regarding the proposed redomestication, voting procedures, and the proposals to be considered. Shareholders are encouraged to review the proxy materials carefully and vote as soon as possible.

Shareholders requiring assistance with voting their shares should contact Weatherford's proxy solicitor, Innisfree M&A Incorporated:

• Shareholders may call (toll-free) (877) 750-8226
• Banks and brokers may call (212) 750-5833

Additional information, including the definitive proxy statement, is available through the SEC and the Company's investor relations website.

About Weatherford

Weatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.

Forward-Looking Statements
This release, as well as other statements we make, include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not historical facts, including statements about Weatherford’s beliefs, plans, estimates, or expectations, are forward-looking statements. Forward-looking statements often use words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “plan,” “potential,” “should,” “target,” “will,” and other words of similar meaning. Such forward-looking statements include, but are not limited to, statements regarding the redomestication, that include, among other things, the anticipated timing and benefits of the redomestication, including the realization of additional cost savings and operational efficiencies, and statements relating to future financial performance and results and goals. These statements are based on current beliefs, plans, estimates, and expectations, all of which involve risk and uncertainty. Actual results may differ materially from those included in such forward-looking statements and therefore you should not place undue reliance on them.

The factors that could cause actual results to differ materially from current expectations include, but are not limited to, our ability to receive, in a timely manner and on satisfactory terms, required shareholder and court approval, and to satisfy the other conditions to the redomestication within the expected timeframe or at all; our ability to realize the expected benefits from the redomestication; the occurrence of difficulties in connection with the redomestication, including any costs related thereto; the risk that the redomestication disrupts current plans and operations; any changes in tax laws, tax treaties or tax regulations or the interpretation or enforcement thereof by the tax authorities in Ireland, the United States and other jurisdictions following the redomestication; and the future financial performance of Weatherford following the redomestication.

The foregoing factors are in addition to those other risks, uncertainties, and factors included in the “Risk Factors” section and elsewhere in Weatherford’s reports filed with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, the proxy statement for the meetings, and other documents filed with the SEC. There may be other risks and uncertainties that we are not currently aware of or are unable to predict and which may also affect Weatherford’s forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements and Weatherford undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

Additional Information and Where to Find It
In connection with the Redomestication, Weatherford filed a definitive proxy statement with the SEC on July 13, 2026. Weatherford may also file other relevant documents with the SEC regarding the Redomestication. The definitive proxy statement is being mailed to shareholders of Weatherford. This communication is not a substitute for any proxy statement or any other document that is or may be filed with the SEC or sent to Weatherford’s shareholders in connection with the Redomestication.

INVESTORS AND SECURITY HOLDERS OF WEATHERFORD ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT WEATHERFORD AND THE REDOMESTICATION AND RELATED MATTERS.

Investors and security holders are and will be able to obtain free copies of the definitive proxy statement and other documents containing important information about Weatherford and the Redomestication through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by Weatherford are available free of charge on Weatherford’s website at www.weatherford.com.

Participants in the Solicitation
Weatherford and its directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitation of proxies from Weatherford’s shareholders in connection with the Redomestication. Information about the directors and executive officers of Weatherford and their ownership of Weatherford’s securities is set forth in the definitive proxy statement relating to the Redomestication, which was filed with the SEC on July 13, 2026 https://www.sec.gov/Archives/edgar/data/1603923/000119312526302022/d136463ddef14a.htm. You may obtain free copies of these documents using the sources indicated above.

For Investors:

Luke Lemoine
Weatherford Investor Relations
+1 713-836-7777
investor.relations@weatherford.com

For Media:
Kelley Hughes
Weatherford Communications, Marketing and Sustainability
media@weatherford.com