signature=ad398a718a9b5ba212157ecaa5be5f72,frac-20200930

Investor Presentation September 30, 2020

Important Disclosures Forward-Looking Statements: This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1993, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. The words "believe," "continue," "could," "expect," "anticipate," "intends," "estimate," "forecast," "project," "should," "may," "will," "would" or the negative thereof and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control. Statements in this presentation regarding the Company that are forward-looking, including projections as to the amount and timing of synergies from C&J merger and outlook information, are based on management's estimates, assumptions and projections, and are subject to significant uncertainties and other factors, many of which are beyond the Company's control. These factors and risks include, but are not limited to, (i) the competitive nature of the industry in which the Company conducts its business, including pricing pressures; (ii) the ability to meet rapid demand shifts; (iii) the impact of pipeline capacity constraints and adverse weather conditions in oil or gas producing regions; (iv) the ability to obtain or renew customer contracts and changes in customer requirements in the markets the Company serves; (v) the ability to identify, effect and integrate acquisitions, joint ventures or other transactions; (vi) the ability to protect and enforce intellectual property rights; (vii) the effect of environmental and other governmental regulations on the Company's operations; (viii) the effect of a loss of, or interruption in operations of, one or more key suppliers, including resulting from product defects, recalls or suspensions; (ix) the variability of crude oil and natural gas commodity prices; (x) the market price and availability of materials or equipment; (xi) the ability to obtain permits, approvals and authorizations from governmental and third parties; (xii) the Company's ability to employ a sufficient number of skilled and qualified workers to combat the operating hazards inherent in the Company's industry; (xiii) fluctuations in the market price of the Company's stock; (xiv) the level of, and obligations associated with, the Company's indebtedness; (xv) the duration, impact and severity of the COVID-19 pandemic and the evolving response thereto, including the impact of social distancing, shelter-in-place, shutdowns of non-essential businesses and similar measures imposed or undertaken by governments, private businesses or others; and (xvi) other risk factors and additional information. In addition, material risks that could cause actual results to differ from forward-looking statements include: the inherent uncertainty associated with financial or other projections; the prompt and effective integration of C&J's businesses into the Company and the ability to achieve the anticipated synergies and value-creation contemplated in connection with the merger. For a more detailed discussion of such risks and other factors, see the Company's filings with the Securities and Exchange Commission (the "SEC"), including under the heading "Risk Factors" in Item 1A of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and subsequently filed Quarterly Reports on Form 10-Q, all available on the SEC website or www.NexTierOFS.com. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates, to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued "forward-looking statement" constitutes a reaffirmation of that statement. Non-GAAP Measures: This presentation includes discussion of proforma Adjusted EBITDA, which is a measure not calculated in accordance with generally accepted accounting principles in the U.S. ("U.S. GAAP"). Please see the Appendix to this presentation for important information about non-GAAP measures used in this presentation. 2

Overview of NexTier’s Leadership Position Taking today’s oilfield to the NexTier Our Position L48 Geographic #2 #1 #1 Overview Leadership % of total revenue2 U.S. land completion Wireline plug & Dual-Fuel NG position in all 1 1 services provider perf fleet powered HHP operating basins Strategic Pillars Digital Objectives: Digital Innovation Lower cash costs of our operations 46% 22% 14% 17% Wellsite Expansion Reduce costs/barrel for customers Permian West/Rockies Central Northeast Value Creation & Returns ESG Minded & Focused +International outlet via MENA Performance & Safety partnership with NESR Our mission: To consistently outperform in service delivery and returns, while enabling customers to win by reducing their overall cost per well and carbon footprint 1 Deployed and working fleets. 2 Pro forma consolidated LTM revenue as of 6/30/2020. 3

Taking Today’s Oilfield to the NexTier The evolving oilfield demands innovative service providers Fortified ̶ Completions leadership position; #2 frac provider Position ̶ Strong balance sheet = staying power & flexibility Digitally ̶ Lower operating costs for us and our customers Enabled ̶ Optimizing and focused investment $ Responsible ̶ Sustainable practices & low carbon technology platform Operations ̶ Low carbon footprint & focused on all aspects of ESG Market ̶ Well maintained & deployable HHP capacity Readiness ̶ Positioned for value creation in market recovery Attractive ̶ Discounted relative valuation despite superior position Valuation ̶ Significant earnings power in market recovery 4

Fortified Balance Sheet Strong and flexible financial position provides staying power Capital priorities focused on cash preservation until visibility improves $430mm ̶ $337mm cash 1 NexTier Offering Liquidity ̶ $93mm ABL availability Invested in equipment readiness = ready on demand Financial Strength & Flexibility Ability to provide leading safety and performance at the wellsite  ZERO net debt; net leverage ratio of zero2  SUFFICIENT cash to navigate cycles Allocate all future growth capital on equipment with enhanced  FLEXIBILITY to fund growth & innovation return & emissions profile  LONG runway on debt maturity 1 2 As of June 30, 2020. Calculated as of June 30, 2020 based on total outstanding debt of $337 million minus cash of $337 million. 5

Focused Digital Strategy The digital oilfield of tomorrow, realized today NexTier’s Digital Lower cash costs Reduce costs per Objectives: of our operations barrel for customers Built for: scale, wellsite scope enhancement & integration KEY BENEFITS: NexHub • Remote operations Powered by: • Extended equipment life Insight Platform Our 24/7 remote operations support function active across all fleets today • Machine learning & Our proprietary real-time machine generated alerts • Digital Operations Engineering digital platform. • Rapid response • Equipment Health Optimization • Enhanced service quality • AI Driven Logistics Control Tower • Data-driven decisions 6

NexHub Delivering Returns Automation & data science lowers operating cost & optimizes capital expenditures ▼66% ▼32% >99.9% Reduction in Frac NPT reduction per Inventory and billing OPERATIONS engineers/fleet fleet1 accuracy ▲124% ▼$2.1mm ▼22% Early failure / pump hour 2Q20 savings from 1H20 YoY capex per MAINTENANCE improvement1 detection & intervention fleet ($1mm/fleet ann’d) ▼96% ▼$5mm 215,000 1H20 YoY demurrage 1H20 YoY reduction in YoY ERP transactions LOGISTICS (wait time) reduction logistics costs automated 1 Since deployment. 7