Sustainability Report

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 Every day, the thousands of employees who are a part of the NOV family go to work to make their teams,
company, and communities a better place. Following a year where our industry and lives were turned upside
down by the global pandemic, I could not be prouder of our teams’ efforts in keeping each other safe while
continuing to help the world meet its growing demand for energy. NOV’s greatest asset remains our talented
people, a fact we can never take for granted.

As the world’s leading independent equipment and technology provider to the energy industry, whether from
traditional oil & gas or renewable sources, NOV facilitates access to reliable, affordable, and clean energy
around the world, a key driver of improved life expectancies and declining global poverty. With one-third of
humanity still lacking access to basic modern energy, including 80% of the African continent and half of India,
our industry’s role in driving the economic progress of the developing world has perhaps never been more
pivotal. We are proud of our part in this essential pursuit.

NOV’s track record of purposeful innovation and

service in the energy technology space uniquely
positions the company to assist the world in its
pursuit of a low-carbon future.
Whether through emissions-reducing technology to the oil & gas industry or solutions that improve the
economics of renewable energy, NOV is facing this challenge head-on and remains committed to assisting
our customers in all their pursuits.

In this report, we provide a look into the many business opportunities NOV is pursuing to further the renewable
energy transition. While many of these pursuits are still in their early stages of development, I am extremely
excited by the economic and social potential they represent and am happy to share an update on our internal
sustainability efforts across our organization and communities.

Though our mission has broadened, we continue to power the industry that powers the world.

Sincerely,

Clay Williams
Chairman, President and Chief Executive Officer

nov.com/sustainability 3
Contents
Message from Clay................................................... 03 Energy and Human Welfare.................................. 27

NOV ESG Steering Committee............................. 05 Energy Transition..................................................... 28

Our COVID-19 Response......................................... 06 Fixed Offshore Wind............................................ 31

Health and Safety.................................................... 08 Floating Offshore Wind....................................... 31

Safety Performance............................................. 08 Onshore Wind....................................................... 31

Global Alignment of Safety Programs............. 10 Solar........................................................................ 32

Transportation Safety......................................... 11 Geothermal........................................................... 33

Social........................................................................... 12 Carbon Capture.................................................... 34

Employee Engagement....................................... 14 Biogas..................................................................... 34

Community Relations......................................... 17 Hydrogen............................................................... 35

Diversity................................................................. 18 Hydrogen Injection.............................................. 35

Human Trafficking Awareness........................... 18 A Sustainable Oil and Gas Industry.................... 37

NOV on Social Media........................................... 20 GRI Index..................................................................... 38

Environmental Stewardship................................ 22

Governance................................................................ 25

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 NOV ESG Steering Committee
Throughout this publication you will find specific examples of what we are doing, what we are planning, and
what we are striving for at NOV. While a lot goes into our commitment to sustainability, it all comes down to
doing the right thing, however we can.

With representatives from different functions including HSE, HR, Leadership, Legal, and Investor Relations,
the ESG (Environmental, Social and Governance) Steering Committee worked together to establish areas of
focus and raise awareness about sustainability in our company. Through discussions in quarterly meetings,
they put actions in place in the following areas:

Stakeholder Engagement
and Outreach | Through NOV
Live, Company Conversations,
the COVID-19 Leadership Series,
employee communications and
various social media outlets, our
stakeholders were more informed
and engaged on NOV’s overall
strategy than ever before.
Awareness | Diversity and Inclusion |
NOV launched a video We cultivate an environment
raising awareness about in which employees feel
the importance of connected to each other,
sustainability at NOV valued for their unique
and the impact we have contributions and accepted
on the world around us. within the company culture.

Technology | Data Collection

We continue to support and Analysis | We are
oil & gas operations committed to collecting,
while also providing analyzing and disclosing
opportunities to help the our emissions data and are
world expand sustainable currently assessing our data
energy. We know we aggregation methodology to
can help our customers ensure accuracy.
Supply Chain | We are committed
safely and cost-efficiently
to ensuring that there are no
produce energy no matter
unremedied cases of modern
the source.
slavery or child labor in our supply
chain or operations.

nov.com/sustainability 5
Our COVID-19 Response
As the world faced the challenges of the COVID-19 pandemic, NOV responded to the needs of our global
workforce with timely and effective communication, heightened health and safety protocols, and direct
leadership engagement.

Global Response
We established Regional Crisis Communications Teams with representatives from Security, HR, HSE, Legal,
and Operations to ensure the unique circumstances from each region were considered when establishing
COVID-19 protocols.

Accountability
Facilities were responsible for implementing proper safety protocols. Leadership remained engaged and
informed of the impact to employees and the company through weekly updates.

Communication
We provided guidance and resources through frequent email communications, toolbox talks for non-email
employees and a website dedicated to COVID-19 tools and resources to support our operations.

Feedback
With more than 4,500 responses, our COVID-19 Employee Survey captured real-time feedback from our
employees about their pandemic work arrangements, satisfaction with health and safety protocols at NOV
facilities, communication channels and more.

89%
89% of employees felt like
NOV provided adequate
86%
of employees were happy of employees felt that
COVID-19 resources NOV took appropriate
with NOV’s COVID-19
(information, guidance, action in response to
communication efforts.
masks, sanitizer, etc.). COVID-19.

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nov.com/sustainability 7
Health and Safety
NOV is committed to protecting the health and safety of our employees and
communities. We are consistently working to ensure that our employees, at all
levels, prioritize safe operations to protect themselves and those around them.

Safety Performance
NOV’s safety metrics continued to move in the right direction in 2020,
demonstrating another year over year improvement and marking the lowest Total
Recordable Incident Rate (TRIR) and Lost Time Incident Rate (LTIR) in NOV history.

2018 2019 2020

TRIR 1.23 1.14 0.87

LTIR 0.52 0.42 0.39

Fatalities 0 0 0

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nov.com/sustainability 9
Global Alignment of Safety Programs
We restructured the HSE organization to better serve employees and align safety programs both at a global
level and within business segments and regions. This allowed us to eliminate duplication of effort across
business segments, establish baseline standards for the entire company and provide a more streamlined,
efficient training program.

Global programs initiated in 2020 include:

Life Saving Rules | NOV adopted the International

Association of Oil & Gas Producers’ (IOGP) Life-Saving Rules to
ensure alignment with industry practices.
In 2020, employees
Global Training Courses | NOV released 14 globally adopted
online training courses in multiple languages through our
completed more than
Achieve Learning Management System. In 2020, employees 627K hours
completed more than 627,000 hours of HSE training. of HSE training.
Stop Work Authority | NOV practices Stop Work Authority to
empower workers to halt work when warranted. This program
was relaunched in 2020 with globally aligned training, badges,
and posters.

Observation Cards | The HSE Observation Card Program provides an updated, streamlined method
for NOV employees, visitors, and contractors to record observations in a proactive effort to reduce risk,
capture suggestions for improvement and provide an outlet for reporting HSE-related achievements and
recognition.

Visitor HSE Induction | NOV adopted the Visitor HSE Induction Program companywide to ensure a
consistent global process for greeting and educating customers, visitors, and guests.

Contractor Management Program | The Contractor Management Program ensures that risks associated
with work performed by third parties on NOV sites are properly mitigated.

Chemical Safety Management | NOV has a centralized repository for Safety Data Sheets (SDS) to help
facilities manage chemical risk by providing chemical risk analysis, easy-to-read one-page mini SDS, and
easy access to emergency information and Personal Protective Equipment (PPE) for each SDS.

Communications | NOV HSE facilitates a safe, engaged and informed workforce by regularly communicating
with employees at all levels through various channels such as email notifications and toolbox talks.

Toolbox Talks | Toolbox Talks bring HSE topics directly to all employees, regardless of computer access.
These discussions allow managers to have open, frequent, and in-person communication about HSE topics
that can affect employees both at work and at home.

HSE Management System | We conducted a rewrite of our Corporate HSE Management System to include
new requirements found in ISO 45001:2018 and ISO 140001:2025 versus those in OHSAS 18001:2007.

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 Transportation Safety
NOV began implementation of the In-Vehicle Monitoring System (IVMS) program in the US and Canadian fleets.
The program allows us to analyze and improve road transport planning and safety performance, provide
regular, formal feedback to drivers and apply consequence management.

These below stats represent the change in driving behavior from week 3 to week 10 of our pilot. These results
led us to move forward with the full implementation in the North America Fleet which began October 2020:

Speeding reduced Hard braking reduced

99% 86%

Preventable Total Vehicle

Hard acceleration reduced
Incident Rate (TVIR)*

66% 1.20

nov.com/sustainability 11
 Social
We are invested in the wellbeing and growth of our employees across our diverse, global workforce. We know
that our employees drive our success. By investing in opportunities for employee education, we strengthen
each employee’s potential while improving their overall work experience.

3%
829
Employees in
Canada

35%
9,671
Employees in the
United States

12%
3,316
Employees in
Latin America

*Numbers calculated as of Dec. 31, 2020

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 25%
6,908
Employees in
Europe 3%
829
7% Employees in
China

1,934
Employees in the
Middle East

13%
553 2%
3,592
Employees in
Africa Employees in
APAC

nov.com/sustainability 13
 Employee Engagement
We believe in cultivating a culture of collaboration and open dialogue at all levels.

Pulse Survey | We experienced our highest participation rate ever in the 2020 Pulse Survey and received
overwhelmingly positive results in areas such as teamwork, cooperation, meaningful work, and expectations.

84% 83%
86% of employees agree they
understand what is of employees agree
of employees agree their
expected of them in order there is teamwork and
work is meaningful.
to do their job well. cooperation within
their department.

Organizational Development (OD) | The learning programs offered by Corporate OD are focused on building
specific skills related to leading people. The audience is mainly managers, leaders and a small number of
individual contributors who may be moving up to people management roles. Technical learning is offered by
each business segment or function and focused on upskilling employees in their specific technical or functional
areas of expertise.

COVID-19 Leadership Video Series |

Our COVID-19 Leadership Video Series connected
all employees with our Chief Information Officer,
Chief Administrative Officer (HR) and Chief Health,
Safety, Security, and Environmental Officer in a
transparent way that provided employees with
comfort that NOV had solutions in place to protect
their health and safety throughout the pandemic
5.3k while also minimizing disruption to their ability to
continue to work.
total views

Company Conversations |
Our Company Conversations program features 8.8k
conversations with NOV Executives about where total views
we are, where we are going and how we plan to get
there. These videos are sent to our global workforce
and are available in multiple languages to
enhance accessibility.

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 “ At NOV, our employees are our
greatest assets and the driving
force behind our success. We value
the innovation and creativity that
comes from fostering a diverse
and inclusive workplace.
Clay Williams
Chairman, President and Chief Executive Officer

nov.com/sustainability 15
[email protected]
 Community Relations
Community investment for NOV includes the provision of volunteer hours and donations to non-profit
organizations that benefit or bring awareness to our core focus areas of science, technology, engineering,
and math (STEM), human health, and social services. Some highlights include:

• In 2020, NOV and its employees contributed $1,000,000 to the United Way, an organization focused on
supporting the local community with financial, emotional, and educational programs for families in need.

• NOV made a $100,000 donation to the American Heart Association, supporting the Go Red for Women
program which advocates for heart health awareness in women, as well as the Bear Bryant Award
scholarship foundation.

• To advance our investment in STEM education and energy technology, NOV pledged to donate $1,000,000
to the University of Texas Engineering building.

• NOV donated nearly 1,700 computers to Comp-U-Dopt to help provide computers for students during the
COVID-19 pandemic.

• Additional examples of NOV-supported programs in 2020 include Houston Texans Anti-bullying campaign,
Snowdrop Foundation, Texas Children’s Hospital, Houston-area scholarships, Boy Scouts of America,
Texas Hearing Institute, Child Advocates of Fort Bend, and more.

nov.com/sustainability 17
Diversity
NOV is known for its industry leadership, innovation, dynamic culture and resilience due in part to
our commitment to maintaining a diverse workforce, individual inclusion, and equal opportunities.
Seeking ideas from individuals of differing backgrounds and perspectives makes good business sense
and enriches all facets of our business. Different life experiences, gender, age, race, ethnicity, cultural
background, sexual orientation, religion, language, education, abilities, and perspectives lead to more
innovative and creative business solutions, more informed decision-making, greater employee engagement,
and better retention and recruitment of top talent.

Awareness | We conducted internal HR workshops on Diversity, Equity, and Inclusion (DE&I)

and communicated with our global workforce on the importance of diversity in the workplace.

Training | US Managers and US HR completed Unconscious Bias training to promote diversity

and inclusion within their teams.

Human Trafficking Awareness

NOV joined the energy community and the Oil & Gas Trafficking Awareness Group (OGTAG) in 2020 to make
a meaningful contribution to the city of Houston during National Human Trafficking Awareness Month and
the Energy Empowers Freedom Tour. Over the course of the week-long event, NOV sponsored the Truckers
Against Trafficking (TAT) Mobile Museum and hosted informational sessions with six local non-profits for NOV
employees with the aim of raising public awareness and exploring ways NOV and its employees can assist in
the process of locating and offering support to trafficked victims.

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 Of NOV’s global workforce,
women make up:

16% 23% 20% 22%

of all employees of salaried employees of our executive suite of our board of directors

nov.com/sustainability 19
NOV on Social Media
NOV produces a series of weekly broadcasts that helps bolster our reputation as a technology leader in the
energy industry. The episodes, which are featured on nov.com/live, LinkedIn, YouTube, and Facebook, provide
platforms for communications across the industry with the added benefit of real-time interaction with viewers.

NOV Live | NOV Live features in-depth conversations with subject-matter experts from across all NOV
segments. The broadcast provides background on the development and application of NOV’s latest
innovations, focusing on the differentiators and operational value that keep our technologies at the
forefront of the industry.

2.4M+ 480k+ 660+

Impressions Views Shares

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 Insight Out | This weekly series showcases interviews from thought leaders and respected voices from a wide
range of organizations. Covering both current economics and future developments, the broadcast reviews the
state of our industry at a macro and micro level while discussing the influence of various factors across the
business landscape.

2M+ 260k+ 280+

Impressions Views Shares

nov.com/sustainability 21
Environmental Stewardship
At NOV, we embrace environmental stewardship through thoughtful procedures and processes
designed to mitigate risks and protect the environment in which we operate. We provide sophisticated
technologies, products, and services that enable our customers and our facilities to operate in a way that
is both environmentally conscious and maintains compliance with local rules and regulations.
This year, to remain committed to our sustainability efforts, we focused on the following:

Capturing environmental data | 2020 marked the start of a new environmental database, designed to collect
and monitor environmental metrics to aid NOV with compliance and environmental, social, and governance
(ESG) reporting.

Consolidating facilities | As we adjust to the changing landscape of the oil & gas industry, we reevaluated our
facility needs. By making a conscious effort to consolidate facilities where needed, we reduced our carbon
footprint and conserved valuable resources.

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 “ As the industry shifts its focus to
renewable energy, we know NOV
can help our customers safely and
cost-efficiently produce energy
no matter the source.
Clay Williams
Chairman, President and Chief Executive Officer

nov.com/sustainability 23
[email protected]
 Governance
At NOV, we are committed to, and recognize, the importance of good corporate governance
and high ethical standards.

Modern Slavery and Anti-Forced Labor | NOV upholds human rights in all our
operations and facilities. We have a strict zero-tolerance approach to modern
slavery and human trafficking. As part of this approach, we have published
our Anti-Forced Labor Policy and are incorporating it into our supplier

11%
agreements. We have also published a Modern Slavery Statement that
provides more detail concerning our efforts in this area.
of the board of directors
Diverse Board of Directors | Our Board of Directors is made up of is racially/ethnically
22% female members, 11% racially/ethnically-diverse members, diverse
and has representation from multiple industries.

Training | We recognize that our commitment to good corporate governance

cannot end at the implementation of policies. We expect our employees to
implement and follow these various policies in all their work activities. To support this,
we develop and deploy training to our employees on a host of governance issues that are relevant to each
employee’s role in our organization. We require all employees to be trained on topics such as our Code of
Conduct and workplace behavior but also provide more specialized training on topics such as anti-corruption,
supply chain risks, safety issues, and a host of other topics.

Code of Conduct | NOV is committed to operating in the right way. This means molding our business
practices around core principals and policies that derive from NOV’s commitment to an organization that
is ethical, respectful, and accountable to its stakeholders. These core policies are set forth in our Code of
Conduct, which operates as the framework from which many other more focused governance policies and
procedures are implemented.

Anti-Corruption and Anti-Bribery | NOV recognizes the serious harm that corruption creates not only for
our business, but also for the communities in which we operate. Our Anti-Corruption and Anti-Bribery Policy
provides employees and others working with us clear policies that prohibit corrupt business practices, and we
provide training on these policies. We also have implemented several internal business controls designed to
detect and prevent corrupt business practices.

nov.com/sustainability 25
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 Energy and Human Welfare
At NOV, we believe that one of the strongest drivers of improvement in the human condition over the
past 150 years has been the increase in the availability of affordable and reliable energy, a development
made possible primarily by hydrocarbons. As the world grapples with the transition to low-carbon
energy sources, a key challenge for us is how to promote the use of renewable energy sources without
compromising the tenets of accessibility and reliability that have underpinned hydrocarbons for decades.

Hydrocarbon products have enabled the rapid modernization of transportation, electrification, and
industrialization all over the world, developments that have significantly improved the average quality of
life for billions of people. Modern travel via automobiles and airplanes run on hydrocarbons and connects
us to one another across the world more closely than any other time in history. Modern heating and cooling
systems powered by hydrocarbon-fueled plants have rendered places once completely inhospitable not
only livable, but also comfortable for people of all socioeconomic backgrounds. Mobile phones, vaccines,
pharmaceuticals, batteries, and fertilizers all derive from the petrochemical industry. In short, our modern
lifestyle has been made possible by hydrocarbons.

Awaiting content
NOV facilitates access to reliable, affordable, and clean
energy around the world, a key driver of improved life
expectancies and declining global poverty.
Importantly, the affordable and reliable nature of hydrocarbon energy sources will continue to play a
pivotal role in enabling the economic progress of many under-developed regions. We must find a way to
achieve our global goal of reducing carbon emissions without denying a significant portion of the world’s
population access to the same affordable, stable energy that has advanced human welfare so dramatically
in the developed world.

We must acknowledge that, in addition to time and significant investment, the transition to a low-carbon
future also requires the balancing of a myriad of social, environmental, and economic interests that are
not always perfectly aligned. As a leading provider of technology to both the hydrocarbon and renewable
energy industry, NOV is focused on purposeful innovation that will ensure access to life-changing, reliable,
and affordable energy for all humanity while minimizing environmental impact.

nov.com/sustainability 27
Energy Transition
While oil and gas will remain critical to powering the global economy, the transition to clean,
carbon-neutral energy sources represents an enormous opportunity for organizations that can improve
the economic competitiveness of renewable energy. As a leading provider of technology and equipment to
the global energy industry, NOV is uniquely positioned to be a key participant in the world’s transition to a
low-carbon future. We are experts in building large, complex machinery with extreme precision at scale in
remote parts of the world and employ dedicated, imaginative scientists and engineers with expertise in
materials science, power systems, robotics, automation, and a host of other fields. Thus, as the world
continues to work towards a low-carbon future, NOV’s core competencies leave us well positioned to
develop proprietary solutions to improve project execution, drive higher capital returns, and lower the
levelized costs of renewable energy.

In 2020, NOV held its second Energy Transition Workshop. The goal of the workshop is to promote
collaboration and knowledge-sharing amongst engineers and thought leaders from across our global
employee base. Appreciating that different business units have different business cases, perspectives and
experiences with technologies, this annual event provides a forum for teams to share these experiences
with the wider audience in a way that promotes discussion and critical evaluation.

18 19 11
business cases presented
dedicated engineers focus areas evaluated
to senior management

In the following section, we detail some of our current ventures in the world of renewables,
ranging from well-established, profitable businesses to some of our earlier-stage efforts.

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nov.com/sustainability 29
 2/3
of the North Sea’s
wind turbines are
installed with an NOV
designed jack-up

50+
years experience in
offshore operations

80%
of global offshore wind
turbines installed with
a BLM and GustoMSC
designed jack-up.

100
tower sections to be
constructed at NOV
Pampa facility

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 Fixed Offshore Wind
Drawing on our expertise in the oil & gas jack-up vessel design, robust aftermarket network, and strong
reputation in marine equipment design, NOV has become the leading provider of global equipment and design
for offshore wind turbine installation vessels. The majority of the world’s 30 gigawatts of installed offshore wind
power has been constructed with NOV-designed vessels and equipment. NOV’s proprietary telescoping cranes,
jacking systems and deck equipment are playing a pivotal role in lowering installation costs and improving
economics for offshore windfarm developers. Due to the increasingly large rotor diameters, nacelle weights,
and hub heights of the next generation of wind turbines, the wind industry requires new, large installation
vessels outfitted to handle the greater lift capacity and demands. With the annual amount of offshore wind
capacity installed expected to double by 2025, we expect this business to grow over the next few years.

Floating Offshore Wind

The emerging floating offshore wind market presents one of the great renewable resource opportunities of
the next decade. While the floating wind market is currently sitting in a pre-commercial development phase,
we believe this market will experience rapid growth through 2030 and are working with industry players to
develop technologies that will mitigate project execution risk. Our patent-pending Tri-Floater semi-submersible
floating foundation is designed with that objective in mind, utilizing NOV’s expertise in marine design to
develop a turbine foundation that requires less steel than competing offerings while still allowing full quayside
construction. NOV was a partner in the design and build of the first US offshore floating wind prototype in
composites with the University of Maine.

Onshore Wind
NOV is developing technology to construct and service increasingly taller wind towers that enable
improved onshore wind project returns. Higher hub heights allow turbines to reach stronger winds,
significantly increasing energy capture, lowering energy cost, and expanding the regions where wind projects
can be profitably developed. NOV’s core design and manufacturing competencies for large, industrial capital
equipment, including cranes, lifting tools, and rotating machinery, uniquely position NOV to develop fit-for-
purpose wind components and installation equipment to facilitate building onshore wind turbines at higher
hub heights.

NOV has invested in Keystone Tower Systems (KTS), which has developed a patented tapered
spiral-welding process that enables automated wind tower section production. The proprietary process
significantly decreases tower section production times and reduces costs. Additionally, the process enables
in-field manufacturing operations, which eliminate many of the logistical limitations associated with
transporting the larger diameter sections necessary for tall tower developments. KTS’s first commercial line
is currently under construction within NOV’s facility in Pampa, TX, with production expected to begin in the
second half of 2021.

NOV is also developing a fit-for-purpose onshore wind tower erection system. Constructing onshore wind
towers currently requires large crawler cranes, which provide advantaged mobility at low and moderate hub
heights but are significantly less efficient at high hub heights. NOV’s technology, built upon the intellectual
property, control systems, and experience developed through mobile desert and arctic drilling rig design,
uses a tower crane in conjunction with a unique mobility system. This patent-pending combination creates
a structurally-sound, mobile tower crane that is expected to significantly improve the safety, reliability, and
efficiency of tall wind tower installation processes.

nov.com/sustainability 31
Solar
NOV has established an internal solar organization to spearhead supply-chain optimization and industrial
engineering efforts in solar equipment design and production. The team is focused on developing a best-in-
class, field-installed, single-axis tracker system with particular emphasis on installation ease, component cost
reduction, and system reliability. We are currently soliciting EPC partnerships to co-develop a utility-scale one-
in-portrait tracker solution and are in the process of evaluating sub-utility scale precertification deliveries for
accelerated field deployment and field product testing.

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 Geothermal
Many of our oil and gas products are being used today for drilling geothermal wells. NOV’s top drives,
blowout preventers, drill pipe, drill pipe inspection and coating, liner hangers, completion tools, drill bits,
and full land rig packages have been a critical part of global geothermal development. However, the service
capabilities of these technologies are often limited by the electronic sensors and components to a maximum
temperature of 350 °F (175 °C). Addressing this limitation has been a key focus of our geothermal initiative.
Specifically, we are working on ways to harden these sensors and components in order to extend their
operating temperature up to 570 °F (300 °C), which covers 90% of the geothermal fields. In 2020, NOV signed
a letter of support with the National Renewable Energy Laboratory for the development of high-temperature
sensing electronics in downhole smart drilling tools that will further enhance our differentiated geothermal
portfolio. In addition, our ReedHycalog, Downhole, and Tuboscope businesses have been developing
fit-for-purpose geothermal offerings that are designed to greatly enhance drilling efficiencies in
geothermal operations.

NOV has provided

70+ 18 rigs
products and
services to address for global geothermal
geothermal needs applications in the
last 15 years

Our choke valves

can withstand
temperatures up to
30+
years of experience in
650 °F geothermal market

nov.com/sustainability 33
Carbon Capture
NOV is leveraging its upstream oil & gas processing system expertise to develop post-combustion carbon
capture technology. Our Generation Zero design is expected to remove 90% of total CO2 from flue gas at a
natural gas power plant, equating to approximately 400,000 tons removed per year and more than 10 million
tons removed over the 25-year operational life of a plant. The industry-leading track record of our Wellstream
Processing business has enabled close collaboration with a large international oil company on CO2 dehydration
and deoxygenation packages. Additionally, our Fiberspar™ composite pipe is currently in use for CO2 transport
applications in the western US, and our APL business’s turret and mooring systems are facilitating the
development of offshore carbon reinjection sites.

Biogas
The biogas market presents the unique opportunity of harvesting agricultural and commercial waste to
produce low-carbon energy. NOV has been a supplier to the waste industry for decades and is currently
developing equipment packages to enhance the growth of this industry – our Chopper Hopper™ combines
solids-reduction technology and transfer pumping for efficient biofuel transfer that can be used at both
commercial and industrial locations. Using NOV’s solids and gas separation technologies, we are developing
a biogas demonstrator concept at the Springett Technology Center, NOV’s research and development center
in Navasota, Texas.

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 Hydrogen
NOV is working to develop technology that will help improve the economics of hydrogen systems.
Previously, NOV Fiberspar™ was selected for testing funded by the Department of Energy (DOE), resulting in
ASME (American Society of Mechanical Engineers) codification of fiber-reinforced composite pipe for onshore
hydrogen transport. Additionally, flexible pipe solutions have the potential to be used for offshore hydrogen
transport for which NOV thermoplastic composite pipe is also uniquely suited. Currently, we are evaluating
low-capex/high-throughput electrolyzer technology opportunities to enable our entry into the green hydrogen
market. NOV has developed solutions for water treatment that we are investigating for utilization as a central
technology to enable the use of seawater in the production of hydrogen. NOV also has an ongoing consulting
project with a carbon-tech start-up for a blue ammonia production concept in Norway.

Hydrogen Injection
Successful tests of a hydrogen (H2) injection technology for diesel- and gas-powered equipment were
conducted at the Springett Technology Center. The process involves injecting pure H2 into the air intake
prior to the turbo unit of the genset. Injecting at low pressure means there is no stored pressure source, and
H2 is generated as needed. These units act as a kit that can be fully retrofitted into existing equipment without
the need to reprogram the engine control module. Testing has shown a positive impact on emissions reduction
and fuel savings, and the technology can be implemented in any diesel- or gas-powered equipment involved
with oil and gas operations.

nov.com/sustainability 35
 Ideal eFrac Fleet vs.
conventional options

Up to Up to

89% 40%
reduction in fuel cost reduction in Total Cost
of Ownership

Up to Up to

42% 74%
reduction in reduction of CO2­e
over-the-road traffic emissions

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 A Sustainable Oil and Gas Industry
NOV is committed to providing products and services to the oil & gas industry that economically reduce
carbon intensity and deliver superior performance. We have pioneered numerous solutions for improving
the industry’s safety and environmental footprint, including our closed-loop solids control and thermal
desorption systems, dual-containment flowline technologies, solar pumping systems, and hydrocarbon
leak detection systems, among others. NOV remains committed to reducing emissions and improving
industry sustainability.

Energy Recovery

NOV’s PowerBlade™ Kinetic Energy Recovery System (KERS) is a regenerative braking technology
that utilizes both flywheel energy and lithium-ion battery energy storage to significantly reduce fuel
consumption and emissions associated with drilling and hoisting. The PowerBlade™ system captures and
regenerates electrical energy that would have previously dissipated as heat when a drawworks, crane, or
winch slows and stops. The PowerBlade™ system then returns this energy when needed.

Smarter Fracking
The Ideal eFrac™ fleet delivers advanced well stimulation technology while dramatically reducing
emissions and decreasing total cost of ownership. The patent-pending Ideal eFrac™ system enhances
wellsite safety by reducing complexity and removing personnel from hazardous environments. In addition
to lower operating emissions and greater power density, the Ideal eFrac™ system is less disruptive to
neighboring communities due to its reduced noise and smaller footprint, requiring 40 percent fewer
truckloads for delivery.

Composite Solutions
We provide a wide variety of composite solutions, including piping systems, fiberglass structures,
and pressure vessels, that weigh less than steel counterparts. These solutions are significantly more
resistant to the costly damage caused by corrosion and reduce the risk of leaks and spills
of environmentally hazardous materials.

Digital Solutions
NOV is developing digital solutions that support industry-wide efforts in low-carbon applications.
We are focused on areas such as remote control, reducing the carbon footprint of on-site personnel,
removing employees from potentially hazardous situations and smart efficiency. In addition to these
technologies, we are developing artificial-intelligence and machine-learning systems that will optimize
performance, minimize energy requirements, eliminate costly, premature maintenance on equipment
and help keep employees out of harm’s way. Using advanced models and digital twins, we can offer our
customers an impactful tool that predicts and manages new system efficiencies while eliminating waste.

nov.com/sustainability 37
Topic Disclosure Disclosure Description Disclosure Data and Location

General Disclosures 102-1 Name of the organization NOV Inc.

Form 10 - K
102-2 Activities, brands, products and services Form 10 - K

102-3 Location of headquarters Houston, TX

Form 10 - K
102-4 Location of operations Global
Form 10 - K
Social, Pgs. 12-13
102-5 Ownership and legal form Form 10 - K

102-6 Markets served Form 10 - K

Message from Clay, Pg. 3
Energy Transition, Pg. 26
102-7 Scale of the organization  27,631 Employees;
61 Countries
Form 10 - K
Social, Pgs. 12-13
102-8 Information on employees and other workers Form 10 - K
Social, Pgs. 12-13
102-14 Statement from senior decision-maker Message from Clay, Pg. 3

102-15 Key impacts, risks and opportunities  Form 10 - K

Message from Clay, Pg. 3
102-16 Values, principles, standards, and norms of behavior Conduct and Ethics Site

102-17 Mechanisms for advice and concerns about ethics Conduct and Ethics Site

102-18 Governance structure Corporate Governance Site

102-19 Delegating authority Corporate Governance Site

102-20 Executive-level responsible for economic, environmental, and social topics NOV ESG Steering
Committee, Pg. 5
102-21 Consulting stakeholders on economic, environmental, and social topics  Corporate Governance Site

102-22 Composition of the highest governance body and its committees Corporate Governance Site

102-23 Chair of the highest governance body Corporate Governance Site

102-24 Nominating and selecting the highest governance body Corporate Governance Site

102-25 Conflicts of interest  Conduct and Ethics Site

102-26 Role of highest governance body in setting purpose, values and strategy Corporate Governance Site

102-27 Collective knowledge of highest governance body Corporate Governance Site

102-28 Evaluating the highest governance body’s performance Corporate Governance Site

102-29 Identifying and managing economic, environmental, and social impacts NOV ESG Steering
Committee, Pg. 5
102-31 Review of economic, environmental, and social topics NOV ESG Steering
Committee, Pg. 5
102-33 Communicating critical concerns Conduct and Ethics Site

102-35 Remuneration policies Corporate Governance Site

102-36 Process for determining remuneration Corporate Governance Site

102-37 Stakeholders’ involvement in remuneration Corporate Governance Site

[email protected]
Topic Disclosure Disclosure Description Disclosure Data and Location

General Disclosures 102-41 Collective bargaining agreements Form 10 - K

102-45 Entities included in the consolidated financial statement Form 10 - K

102-50 Reporting period 2020

102-51 Date of most recent report 2019

102-53 Contact point for questions regarding the report nov.com/sustainability

[email protected]
Economic Performance 201-1 Direct economic value generated and distributed Form 10 - K
201-3 Defined benefit plan obligations and other retirement plans Form 10 - K

Indirect Economic Impacts 203-2 Significant indirect economic impacts Energy and Human Welfare, Pg. 27
Message from Clay, Pg. 3
Anti-Corruption 205-2 Communication and training about anti-corruption policies Conduct and Ethics Site
and procedures
Employment 401-2 Benefits provided to full-time employees that are not provided to Form 10 - K
temporary or part-time employees
Occupational Health and Safety 403-1 Occupational health and safety management system HSE Management System
Health and Safety, Pg. 10
403-2 Hazard identification, risk assessment, and incident investigation Form 10 - K
Health and Safety, Pg. 10
403-4 Worker participation, consultation, and communication on Health and Safety, Pg. 10
occupational health and safety
403-5 Worker training on occupational health and safety Health and Safety, Pg. 10

403-6 Promotion of worker health Form 10 - K

COVID-19 Response, Pg. 6
403-8 Workers covered by an occupational health and safety HSE Management System
management system Health and Safety, Pg. 10
403-9 Work-related injuries TRIR -0.87
LTIR - 0.39
403-10 Work-related ill health Fatalities - 0
Health and Safety, Pg. 9
Training and Education 404-1 Average hours of training per year per employee Average of 23 hours per employee
(627k total)
Health and Safety, Pg. 9
Social, Pgs. 12-13
404-2 Programs for upgrading employee skills and transition Form 10 - K
assistance programs Employee Engagement, Pg. 14
Diversity and Equal Opportunity 405-1 Diversity of governance bodies and employees Form 10 - K
Social, Pgs. 12-13
Diversity, Pgs. 16-17
Governance, Pg. 23
Child Labor 408-1 Operations and suppliers at significant risk for incidents of child labor Conduct and Ethics Site
Forced or Compulsory Labor 409-1 Operations and suppliers at significant risk for incidents of forced or Conduct and Ethics Site
compulsory labor
Human Rights Assessment 412-1 Operations that have been subject to human rights reviews or impact Conduct and Ethics Site
assessments
412-2 Employee training on human rights policies or procedures Conduct and Ethics Site
Governance, Pg. 23
Public Policy 415-1 Political contributions Conduct and Ethics Site

To view the Global Reporting Initiative (GRI) standards in additional languages, visit www.globalreporting.org

nov.com/sustainability 39
NOV Inc. has produced this brochure for general information Corporate Headquarters
only, and it is not intended for design purposes. Although
every effort has been made to maintain the accuracy and
7909 Parkwood Circle Drive
reliability of its contents, NOV Inc. in no way assumes Houston, Texas 77036
responsibility for liability for any loss, damage or injury USA
resulting from the use of information and data herein. All
applications for the material described are at the user’s risk
and are the user’s responsibility.

© 2021 NOV Inc. All rights reserved.

JIRA 15112

[email protected] nov.com/sustainability