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Chris WeberSenior Vice President & CFOJohnson Rice Energy ConferenceSeptember 22, 2016

Forward Looking Statements CautionThe following presentation contains certain statements that may be deemed to be “forwardlooking statements” within the meaning of the securities laws of the United States. Allstatements, other than statements of historical facts, addressing activities, events ordevelopments that the Company expects, projects, believes or anticipates will or may occur inthe future, the outlook for rig equipment and utilization and day rates, general industryconditions including bidding activity, future results of the Company’s operations, capitalexpenditures, income tax matters, expansion and growth opportunities, financing activities,debt repayment, returns on capital, cash flows and other such matters, are forward-lookingstatements. Although the Company believes its expectations stated in this presentation arebased on reasonable assumptions, actual results may differ materially from those expressed orimplied in the forward-looking statements. For a more detailed discussion of risk factors,please refer to the Company’s reports filed with the SEC, including the reports on Forms 10-Kand 10-Q. Each forward-looking statement speaks only as of the date of this presentation, andthe Company undertakes no obligation to publicly update or revise any forward-lookingstatement.2

Strategic FocusBe the premier supplier of rental toolsand specialized drilling services inselect U.S. and international markets Operational execution Reduce customers’operating risks andoperating costs Manage downturn andposition company forgrowth Financial disciplineDeliver Reliable Results and Improved Profitability3

Balanced Profile Relative to Small-Cap PeersRevenue ProfilePortfolio1Geography1Backlog2 446 million at June 30, %International69%2018 47%201618%1Priorfour quarters thru 2Q’16revenue backlog is an estimate. It does not include rental revenues and all other drilling revenues we may earn, including those for added services, reimbursables,mobilization or demobilization; nor does it anticipate revenue reductions that may be due to conditions that would lead to reduced dayrates or early terminations.2Worldwide4

Drilling OverviewOperating Strengths Highly capable fleet to meet challenging drilling requirementsO&M contracts leverage drilling experience and expertiseBuilding scale in large and growing international marketsMarket share leader for barge rigs in the Gulf of MexicoRevenues by MiddleEast/AsiaPac28%1Prior four quarters thru 2Q’16, excludes reimbursable revenuesIncludes US Lower 48 and Alaska3 As of June 30, 20162Rig t19High HPLandBarge5

Rental Tools OverviewOperating Strengths A leading supplier in U.S. land, U.S. offshore and international marketsStrong growth in up cycles, resilient operating margins in down cyclesA solid international platform with major presence in Middle EastIncreasing presence in Gulf of Mexico offshore deepwater marketRevenues by Geography1Revenues by Product Offering1Well Pac228%UnitedStates57%UK/Europe10% LatinAmerica5%Surface &Tubular87%1Prior four quarters thru 2Q’16.Includes Africa, Middle East, Asia Pacific, and Russia.3 Tubular running services and BHA drilling tools4 Fishing services and re-entry (whipstock)26

Current Strategic Focus1Successfully navigate the downturn- Focus on cash flow- Financial flexibility2Build on rental tools strength- Maintain and expand market leadership of U.S. rentals- Improve operating performance of international rentals3Maintain U.S. barge business for recovery4Build scale in International & Alaska drilling business- Focus on core markets- Expand O&M business model5Leverage operational execution track record to grow- Capital discipline priority7

1 Navigate the Downturn – Free Cash FlowAction Items Lower cost structure 40% reduction in headcountsince YE’14 Both BUs & Corp Deeper cuts in most affectedBUs Sustain utilization Rigs RentalsCash Flow and Capital SpendingOperating Cash FlowCapital Spending 250 250 226 202 200 150 62 62 150 95 77 100 100 128 129 67 792012Rigs2013 60 50 84 39 02011 Reduce capital expenditures 162 161 50 Maintain working capitaldiligence 200 1902014Rental Tools 21 1120152Q'16LTM 2016eOperating Cash Flow( millions)8

1 Navigate the Downturn – Financial FlexibilityFinancial PositionSenior Notes Maturity Schedule 360( millions)CashCredit Facility Availability1 2251976¾%Liquidity6/30/20161098807½%Revolver Borrowings20161201720182019202020212022Portion used to support letters of credit is deducted: 11.8 million at 6/30/16. Credit facility size reduced from 200 million to 100 million effective May 27, 2016.9

2 U.S. Rentals - Maintain Market LeadershipU.S. Rig Count vs. Rental Tools100Tubular Goods Utilization Index150Index is up 18% since MayIndexed at 10080PKD U.S. Rental ToolsRevenue: -69%4030602040U.S. Rig Count: -78%20100020161The Tubular Goods Utilization Index represents the proportion of tubular goods (drill pipe and related products) that were on rental compared to the totalinventory of tubular goods, and indexed to a base level of tubular goods inventory on rental during the 2005 – 2006 period. Tubular goods rentals do not accountfor all the Rental Tools segment’s revenues.10

2 Int’l Rentals - Improve PerformanceActions TakenForward Plan Focusing on core markets withsustainable activityInserted ntlylower costbasisImprovedsupply chainmanagementand coststructureConsolidatedand closedunderperforminglocationsReducedheadcount Actively tendering newopportunities to gain marketshare Exercising cash flow discipline Automated CRT performanceexceeding competitivetechnologies11

3 Maintain U.S. Barge Business for Recovery GOM inland water marketremains attractiveBreak Even Oil Price Comparison, in /bbl250 Low breakeven oil price200 Low idle rig costs150100 Solid historical resultsBreak Even RangeSource: IHSNote: Comparative economics based on NPV 0 at IRR 15%; 2014 cost baseUS Base(Opex)US ShallowNear-ShoreLouisianaUS OnshoreBakken(Single Well)PermianConventionalEagle FordEastSCOOP(Single Well)US Deepwater Strong operating leverage torecoveryEagle FordWestPermianShale-Niobrara50Utica(Single Well) 2014 Gross Margin: 68mm 2014 Utilization: 72%Average 2015 IHS12

4 Build Scale in Core Int’l & Alaska MarketsArcticCaspian SeaMiddle East121514321 2Latin America221611Location and number of Parker-owned rigsLocation and number of O&M operationsCore PKD market/regionNote: Rig count as of June 30, 201613

4 Expand O&M Business ModelDrilling Revenues by Service Type 1,2 Generally high profile, complexcustomer projects requiring specificdrilling equipmentO&M ProjectServices43%57% O&M service scope can be scaled tocustomer needs Contracts typically longer-term (2 years) and customer “switchingcosts” higherParker-ownedRigsTotal Contracted Backlog 3Parker-Owned Rigs millionsO&M 210 157 Capital-light business model Enhance overall returns on capital 79 77 41 38 8020162017 206 42018 Total backlog of 446 million at June 30, 2016four quarters thru 2Q’16.reimbursables.3 Worldwide revenue backlog is an estimate. It does not include rental revenues and all other drilling revenues we may earn, including those for added services, reimbursables,mobilization or demobilization; nor does it anticipate revenue reductions that may be due to conditions that would lead to reduced dayrates or early terminations.1 Prior2 Excluding14

5 Leverage Operational Execution to GrowStrategic Growth Checklist Rental tools: Geographic and product-line extensions (organic and acquisitions) Drilling: O&M, long-term contracts for newbuilds and opportunistic acquisitions Return on capital focused Consider distressed assets International bias15

Summary Focus on managing cash and liquidity in downturn Favorable product/service and geographic mix relative tosmall-cap peers Return on capital driving strategies Leverage reputation as innovative, reliable and efficientprovider to maintain and grow market share Position Parker for recovery16

Johnson Rice Energy Conference September 22, 2016. Forward Looking Statements Caution 2 The following presentation contains certain statements that may be deemed to be "forward-looking statements" within the meaning of the securities laws of the United States. All