oneteam asset performance solutions

© TEAM, Inc. All rights reserved.

OneTEAMAsset Performance SolutionsJune 2021


SAFE HARBOR STATEMENT

Certain forward-looking information contained herein is being provided in accordance with the provisions of the Private Securities Litigation Reform Act of

1995. We have made reasonable efforts to ensure that the information, assumptions and beliefs upon which this forward-looking information is based are

current, reasonable and complete. Such forward-looking statements involve estimates, assumptions, judgments and uncertainties. There are known and

unknown factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking information. Such known factors

are detailed in the Company's Annual Report on Form 10-K and in the Company's Quarterly Reports on Form 10-Q as filed with the Securities and Exchange

Commission, and in other reports filed by the Company with the Securities and Exchange Commission from time to time. Accordingly, there can be no

assurance that the forward-looking information contained herein, including projected cost savings, will occur or that objectives will be achieved. We assume

no obligation to publicly update or revise any forward-looking statements made today or any other forward-looking statements made by the Company,

whether as a result of new information, future events or otherwise, except as may be required by law.

2


Outline

3

1 WHO WE ARE

2 WHAT WE DO

3 INVESTMENT HIGHTLIGHTS

4 MARKET DYNAMICS

5 INNOVATION AND TECHNOLOGY

6 FINANCIAL HIGHLIGHTS

7 CONCLUSION


Optimizing Performance Assurance

4

WHO WE ARE

TEAM exists to ensure the energy that fuels a better tomorrow

TEAM is the only global

provider of integrated

digitally-enabled asset

integrity solutions that result in

greater safety, reliability, and

operational efficiency across

an entire supply chain.

Global and Diverse Company

200 locations in 20 countries

7,000+ team members

Large Portfolio of Offerings Across Industries

14 Integrated service lines across three segments

20+ unique industry services

History of Operational Excellence

45+ year legacy of providing integrated inspection and

assessment, turnaround and onstream services

100 year legacy of technological innovations


Core Values

5

WHO WE ARE

SAFETY FIRST / QUALITY ALWAYS

In everything we do

INTEGRITY

Uncompromising

standards of integrity

and ethical conduct

SERVICE LEADERSHIP

Leading service quality,

professionalism

and responsiveness

INNOVATION

Supports

continuous growth

and improvement

PRIDE ANDRESPECT

For our clients,

for each other and

for all our stakeholders

TEAMWORK

Global teamwork

and collaboration


Environmental, Social and Governance

6

PEER-LEADING ESG PROGRAM

METRIC TONS OF REDUCTION

IN GHG EMISSIONS 1

>1.1M

INCREASE IN TIME SPENT ON

SAFETY OBSERVATION 1

526%

TOTAL RECORDABLE

INCIDENT RATE 2

0.14FEMALE CONTRIBUTION TO THE

EXECUTIVE LEADERSHIP TEAM 2

21%

Environment

+ Completed 1,501 Optical Gas Imaging leak detection surveys, over

the last five years

+ Achieved ISO 9001 certification for implementing quality

management systems on 28 operations facilities

Social

+ Received the American Fuel and Petroleum Manufacturers

Distinguished Safety Award from three clients

+ All four of our Voluntary Protection Program sites received the Star

of Excellence

+ Installed over 3,000 Geotab devices into TEAM vehicles to track

compliance with vehicle safety requirements

Governance

+ Board consists of 90% independent Directors

Note: Non-GAAP items reconciliation provided in the Appendix section of this presentation

(1) As of December 31, 2019

(2) As of December 31, 2020


High Standard of Safety

7

WHO WE ARE

All employees are empowered and expected to STOP a task or operation that is unsafe; this standard has full management support.

0.08 0.090.06

0.02

0.16

0.04 0.05 0.07 0.06 0.070.02

0.75

0.630.57

0.51 0.52

0.32 0.330.39

0.32

0.24

0.14

0.0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8

0.9

1.0

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

TEAM Lost Time Incident Rate (LTIR)

TEAM Total Recordabe Incident Rate (TRIR) US Refinery TRIR

US Petrochemical TRIR


Diversified Portfolio with Global Reach

+ No single client accounted for more

than ~10% of revenues in 2020

+ 25 largest clients accounted for ~40%

of revenues in 2020

+ Strong relationships with majority

of US refineries

+ Diversified sectors from Refining,

Power, Petrochemical, Midstream,

LNG, Offshore, Aerospace, etc.

8

Revenue by Geography (1) Strong Blue-Chip Client Base

Adjusted EBITDA by Segment (2)Revenue by Segment

72%10%

12%

6%

United States

Canada

Europe

RoW

44%

46%10%

IHT

$375M

MS

$392M

QI

$85M

32%

49%

19%IHT

$34M

MS

$51M

QI

$21M

(1) RoW (Rest of World): Latin America and Asia

(2) Only includes the Operational Segments without Corporate

All data shown references 12/31/2020

Non-GAAP items reconciliation provided in the Appendix section of this presentation

WHO WE ARE


Long History of Organic Growth and Strategic Acquisitions

9

WHO WE ARE

$260$318

$479 $498$545

$508

$624$714

$813

$926

$1,197 $1,200$1,247

$1,163

$853

2013201120082006 20102007 2009 2012 2014 2015 2016 2017 20192018

+9%

CAGR

Acquired Quest Integrity

(Nov 2010)

Acquired Qualspec

(July 2015)

Acquired Furmanite

(February 2016)

Revenue (Millions USD)

2020


Enterprise Legacy of Growth

10

WHO WE ARE

1960METALOCK LTD

ACQUIRED

MECHANICAL

SERVICES ADDED

TO COMPANY

OFFERINGS

1929FURMANITE

BECOMES FULL

LEAK SEALING

COMPANY

1973TEAM INDUSTRIAL

SERVICES INC. IS

FOUNDED

1980INITIAL PUBLIC

OFFERING

1999X RAY INSPECTION, INC.

ACQUIRED

2004COOPERHEAT-MQS

ACQUIRED

2006GENERAL SERVICES

GROUP (GSG)

OF FLOWSERVE

CORPORATION

ACQUIRED

2007AITEC INSPECTION

SERVICES

ACQUIRED

2008LEAK REPAIRS

SPECAM ACQUIRED

2010QUEST INTEGRITY

GROUP, LLC

ACQUIRED

2012QUALSPEC GROUP

FORMED

TCI SERVICES INC.

ACQUIRED

2013GLOBAL ASCENT, INC.

ACQUIRED

2015DK AMANS VALVE

ACQUIRED

QUALSPEC GROUP

ACQUIRED

2016FURMANITE CORPORATION

ACQUIRED

ACQUISITION OF QUALITY

INSPECTION SERVICES AND

TIAT INSPECTION IN

EUROPE

2011SELF LEVELING

MACHINES, INC.

ACQUIRED

2020P3 PULLEN

POLYURETHANE

PRODUCTS

ACQUIRED


TEAM is Positioned to Emerge from the Global Pandemic Stronger

11

WHO WE ARE

(1) Calculated as weighted average duration of all outstanding debt instruments. Assumes that the Term Loan and ABL Facility maturities do not spring; each facility is

subject to early termination if $50 million or more of the Convertible Notes are outstanding 120 days prior to the maturity of the notes.

Reduced Cost Structure Through OneTeam ProgramRealized $110 million of savings in 2020

Implemented New Capital StructureRepurchased $137 million in Senior Notes and extended average debt maturity by 3 years1

Published TEAM’s Inaugural ESG ReportDetailed TEAM’s commitment to operating in an environmentally sustainable way

Achieved Top-Tier Safety RecordDelivered the company’s best safety performance in the company’s history

Announced New Organizational Structure to Accelerate GrowthCreated three new groups to further improve operational and financial performance

© TEAM, Inc. All rights reserved. 12

WHO WE ARE

Amerino GattiChairman and Chief Executive Officer

Susan BallChief Financial Officer,

Treasurer and EVP

Chad MurrayMechanical & Onstream

Services, President

Keith TuckerInspection & Heat Treating,

President

Butch BouchardChief Legal Officer,

Secretary and EVP

Robert YoungAsset Integrity & Digital,

President

Sherri SidesChief Human Resources

Officer, SVP

Jim McCloskeyEnterprise Accounts &

Industry Affairs, SVP

Mike WoodQuality, Health, Safety &

Environment, SVP

Executive Management Team


Outline

13

1 WHO WE ARE

2 WHAT WE DO


4 MARKET DYNAMICS



7 CONCLUSION


Asset Integrity Management

+ Empowering greater safety, reliability

and operational and economic efficiency

+ Technology and digitally-enabled

asset performance assurance and

optimization solutions

+ Workflow cycle reoccurs on predictive,

time or reactive basis

+ Fully digitized data threads through

this cycle to enhance data value and

information conversion velocity

14

WHAT WE DO


Inspection SolutionsValidate the integrity of materials, parts and

components with advanced testing methods

and techniques.

Onstream SolutionsEliminate the need for costly shutdowns with

specialized on-line and on-site maintenance

and repair services.

Heat Treating SolutionsEnsure pinpoint precision and thermal processes

accuracy with our heat transfer analysis and

heat-treating products and services.

Asset Integrity Management SolutionsImprove operational planning with technology-

enabled, advanced inspection and engineering

assessment services and products.

Unparalleled Breadth and Depth of Solutions

15

WHAT WE DO

TEAM provides integrated

digitally-enabled asset

integrity solutions that result

in greater safety, reliability,

and operational efficiency

across an entire supply chain.


TEAM is Uniquely Positioned to Provide Integrated Solutions

16

WHAT WE DO

Integrated Solutions Allow Clients to

Streamline Operations

Breadth and Depth of Solutions Matter

+ Portfolio of 14 product and service lines

+ Provide customized engineering solutions with state-of-the-art inhouse manufacturing

+ Specialized technical offering including laser scanning, digital imaging, and land-based

and aerial robotics platforms

+ Over 7,000 trained and certified technicians

+ Nested technicians provides opportunity for informed and faster service solutions

+ Provide inspection support services which includes inhouse labs, chemical processing

and materials engineering under one roof


Multi-Level Client Relationship

17

WHAT WE DO

Nested / Run and Maintain

+ On-site, full time personnel

+ Field overhead billable

+ Performance based

+ Regular/planned routine maintenance

+ Daily/weekly maintenance cadence

+ Insight into future work

Project / Turnaround

+ Highly planned Statement of Work

+ Location proximity highly valuable

+ Highly seasonal; peak cycles in

spring/fall

+ New construction in the form of

upgrades and expansions

+ Maintenance on a reactive, time

and predictive basis

Emergency / Call-out

+ Personnel dispatched as needed

+ Expertise access and proximity

dependent

+ Emergency/unplanned services

+ Medium and large-scale maintenance

operations

+ Maintenance by definition on a

reactive basis


2017 2018 2019 2020

Revenue ($M) Adj. EBITDA Margin

Inspection & Heat Treating

18

WHAT WE DO

+ The largest field heat treating company

in the world, providing complete heat

treating services for industries worldwide

+ Providing advanced NDE technologies

to meet complex inspection requirements

Global leader in standard and advanced non-

destructive testing and heat-treating services, and

pipeline assessment and tank inspection services

$358M LTM Revenue1

$34M LTM Adj. EBITDA1

10% LTM Adj. EBITDA Margin1

Historical Revenue and Margin

(1) Reflects last twelve months (“LTM”) as of March 31, 2021; EBITDA figures not burdened by corporate allocations

Inspection &

Heat Treating

Mechanical Integrity Solutions

Heat Treating / Thermal Services

9% 10%

8%9%

$375

$513

$617$589


Mechanical & Onstream Services

19

WHAT WE DO

Global leader in maintenance and repair services

resolving critical asset issues with on-line and

on-site maintenance and repair services

$375M LTM Revenue1





+ Technology enabled manufacturing and

tooling with patented and proprietary materials

and equipment

+ Industry-leading skills training and

certification programs to deliver multi-

disciplined craft productivity

Machining, Bolting and

Vapor Barrier-Weld Testing

Services

Mechanical &

Onstream

Services

2017 2018 2019 2020


8%9%

13%

$392

$535$532$530

15%


2017 2018 2019 2020


Asset Integrity

& Reliability

Quest Integrity

20

WHAT WE DO

+ Advanced, fit-for-service asset integrity

inspection solutions

+ Advanced engineering, condition

assessment and integrity management

services

+ Portfolio of intellectual property in

proprietary tools and sensors

Global leader in the development and

delivery of asset integrity and reliability

management services

$77M LTM Revenue1





21%

26%

28%

24%

$82

$97

$115

$85


Outline

21

1 WHO WE ARE

2 WHAT WE DO


4 MARKET DYNAMICS



7 CONCLUSION


Investment Highlights

22

WHO WE AREK

EY

ST

RE

NG

TH

SK

EY

ST

RA

TE

GIE

S

Single Solution Provider for Global

Asset Integrity Management

Long-standing Diversified,

Blue Chip Client Base

Deep Domain Expertise Driving

Continuous Technological Advancements

Industry Sector & Geographical

Revenue Diversification

Execution Excellence Delivered via

OneTEAM

Growth Through Critical Asset

Integrity Optimization

KEY STRENGTHS

KEY STRATEGIES

KEY STRENGTHS KEY STRENGTHS

KEY STRATEGIES KEY STRATEGIES



23

WHO WE ARE

Single Solution Provider for

Global Asset Integrity

Management

+ Broad/deep service and product portfolio

supporting full range of client needs

+ Project Design, Planning & Management

+ Standard to Advanced Inspection

+ Advanced Engineering & Data Analytics

+ Maintenance & Repair

+ Multiple solutions across client networks

Long-standing Diversified,

Blue Chip Client Base (1)

+ Top 20 clients for at least 10+ years

+ No single client accounts for more than

~10% of revenue

+ Diversified client base:

Refinery (36%)

Petrochemical (23%)

Pipeline (11%)

Power (8%)

Aerospace, LNG, Renewables and Other

(22%)

Deep Domain Expertise Driving

Continuous Technological

Advancements

+ Differentiating proprietary engineered

technologies and software solutions

+ Decades of talent, expertise and

technology developed in-house and from

acquired companies

+ Digitized work processes

+ Critical assets in place to service refining,

petrochemical, pipeline and power

KE

Y S

TR

EN

GT

HS

KEY STRENGTHS KEY STRENGTHS KEY STRENGTHS

(1) As of 12/31/2020


Industry Sector & Geographical

Revenue Diversification

+ Dedicated to advancing portfolio offerings

in core and emerging end markets

+ Explore and form efficient go-to-market

business models

+ Innovation for the low-carbon energy

transition


24

WHO WE ARE

Execution Excellence Delivered

via OneTEAM

+ Revenue enhancement including

cross-selling

+ Operations improvement

+ Center-led functions cost improvement

+ Efficient, cost-effective and scalable

organization

Growth Through Critical Asset

Integrity Optimization

+ Increased regulatory environment

+ Aging infrastructure

+ Increased backlog of maintenance-related

Opex and CapEx

+ Predictive solutions through robotics,

digital, and advance analytics

KE

Y S

TR

AT

EG

IES

KEY STRATEGIES KEY STRATEGIES KEY STRATEGIES


Outline

25

1 WHO WE ARE

2 WHAT WE DO


4 MARKET DYNAMICS



7 CONCLUSION


Industry Sector DiversityMARKET DYNAMICS

REFINING POWER RENEWABLES &

ALTERNATIVESNUCLEAR

ENERGY

LNG

AEROSPACE GOVERNMENT

AEROSPACE

& DEFENSE

CHEMICAL PETROCHEMICAL PULP & PAPER MININGMANUFACTURING AUTOMOTIVE

MANUFACTURING

& PROCESS

AMUSEMENT

PARKDAMS PORTS

CONSTRUCTON

& BUILDING

INFRASTRUCTURE

BRIDGESROADS &

RAILWAYS

PIPELINE OFFSHOREVALVES

MIDSTREAM

& OTHERS TERMINALS

& STORAGE

26


Diversified Installed BaseMARKET DYNAMICS

REFINING

NUCLEAR

LNG

GEOTHERMALPIPELINE

TERMINALS

& STORAGEOFFSHORE

AEROSPACE

HYDROPOWER

BRIDGES &

ROADS

POWER

RENEWABLES

27


Industry and Growth

28

MARKET DYNAMICS – UNMATCHED SERVICES TO A DIVERSIFIED INDUSTRY BASE

IHT – Inspection & Heat Treating MS – Mechanical Services QI – Quest Integrity Emerging Markets for TEAM

Integrity Management and

Performance SolutionsNot applicable

Conventional NDE

Advanced NDE

Heat Treating / Thermal

ServicesNot applicable Not applicable

Tank Management Solutions Not applicable Not applicable

Pipeline Integrity Solutions Not applicable Not applicable Not applicable Not applicable Not applicable Not applicable

Machining, Bolting and Vapor

Barrier-Weld Testing ServicesNot applicable

OnStream Services Not applicable

Hot Tap and Line Intervention

ServicesNot applicable

Valve Management Solutions Not applicable

Emissions Control Services Not applicable Not applicable

QI Inspection Not applicable Not applicable Not applicable

QI Advanced Engineering Not applicable

QI Advanced Digital Imaging

REFINING POWER / UTILITY

CHEMICAL /

PETROCHEMICAL PULP & PAPER

MIDSTREAM /

PIPELINE LNG AEROSPACERENEWABLES &

ALTERNATIVES OFFSHORE

© TEAM, Inc. All rights reserved. 29

Tightening Emissions Regulations

JAN. 2011OIL & GAS OPERATORS

REQUIRED TO ESTIMATE

GHG EMISSIONS

FEB. 2014COLORADO REQUIRES ALL

OPERATORS TO INSPECT

WELLS FOR METHANE

LEAKS

MARCH 2017CALIFORNIA MANDATES

THAT ALL OIL & GAS WELLS

MUST BE INSPECTED ON A

QUARTERLY BASIS

JUNE 2016EPA REQUIRES WELLS

DRILLED OR MODIFIED

AFTER 2014 TO BE

REGULARLY INSPECTED

JAN. 2021PRESIDENT BIDEN ASKS EPA

TO PROPOSE NEW

REGULATIONS ON EMISSION

GUIDELINES AND TESTING

Demand for Emissions Testing TEAM’s History of Emissions Control Integrated Service Offering

>700,000 oil & gas wells in the

U.S. currently not Federally

required to do emissions testing1

E&P operators under increasing

ESG investor pressure to report

and reduce GHG emissions

(1) Based on 2019 reported by EIA and wells drilled per year data by Statista

Repair

OneTEAM

MARKET DYNAMICS

>40 Years of experience in Leak

Detection and Repair (LDAR)

Portfolio of intellectual property in

proprietary tools, sensors and services

Monitoring ~300 oil and gas wells

Optical Gas Imaging

Digital Monitoring Solutions

Land-based and aerial robotics

inspection platforms

Trained and Certified Technicians

for repair work


Wind Energy Provides Tremendous Growth Potential

30

MARKET DYNAMICS

TEAM is uniquely qualified to provide integrated

digitally-enabled asset integrity solutions to the

emerging Wind Energy market.

Advanced NDE

Technologies

Composite

Repair

Rope Access

Technicians

>60%

1 year

10x

Growth in Wind Power capacity

between 2021 and 20251

Wind turbine blades inspected

annually for damage

The number of technicians

required to inspect wind farms

versus traditional power plant2

(1) International Renewable Energy Agency

(2) On a megawatt basis

1 year Wind turbine foundation bolts

inspected on an annual basis

Field Machining

Services

ASME-Compliant

Bolting

Robotic Inspection

Solutions


Blue-Chip Client Base

31

MARKET DYNAMICS

2020

REVENUE

$853M

PETROCHEM REFINERIES

POWER

PIPELINE

AEROSPACE, LNG, RENEWABLES, OTHER

11%

8%

23%36%

22%


Outline

32

1 WHO WE ARE

2 WHAT WE DO


4 MARKET DYNAMICS



7 CONCLUSION


A Century of Leading Innovation Technology

33

INNOVATION AND TECHNOLOGY

1920EUGENE CLAY

FURMAN DEVELOPS

LEAK SEALING

PROCESS

1924EUGENE CLAY FURMAN

DEVELOPS FIRST DIY

LEAK SEALING KITS

1927EUGENE CLAY FURMAN FILES

1ST LEAK SEALING PROCESS

PATENT

EUGENE CLAY FURMAN

MARKETS LEAK SEALING KITS

1929FURMANITE

BECOMES FULL

LEAK SEALING

COMPANY

1980TEAM BECOMES

1ST COMPANY TO

PROVIDE LDAR

SERVICES TO THE

INDUSTRY

2005TEAM INTRODUCES

METHOD 21 REPORTER

SOFTWARE FOR QUALITY

AND COMPLIANCE

VERIFICATION OF FIELD

DATA

2007TEAM EUROPE

INTRODUCES CNC

MANUFACTURING OF LEAK

REPAIR ENCLOSURES

2008QUEST INTEGRITY LAUNCHES

SUITE OF

UT ILI TOOLS

TEAM INTRODUCES

SPECIALTY FIELD MACHINING

SERVICES

2011TEAM INTRODUCES

SMARTHEAT-WIRELESS HEAT

TREATMENT TECHNOLOGY

2013TEAM INTRODUCES

L-CATT, LDAR COMPLIANCE

ASSURANCE TICKET

TRACKER

2015TEAM LAUNCHES

HIGH ENERGY PIPING

(HEP) PHASED ARRAY

INSPECTION

QUEST INTEGRITY

LAUNCHES SUBSEA AND HIGH

RESOLUTION UT ILI TOOLS

2016QUEST INTEGRITY

INTRODUCES GROUND

BREAKING,

HIGH RESOLUTION 2”

UT ILI TOOLS

2017TEAM SUCCESSFULLY

DIGITIZES MULTI-UNIT

TURNAROUND INSPECTION

PROCEDURES AND WORKFLOW

TEAM MODERNIZES

MANUFACTURING WITH

AUTOMATION AND 5-AXIS CNC

CAPABILITIES

2018TEAM ADDS

ON-STREAM

INSPECTION

PROGRAMS TO DIGITAL

PLATFORM

2019QUEST LAUNCHES

STREAMLINE PIPELINE

ANALYSIS

2021TEAM INTRODUCES

DIGITAL INFORMATION

PORTAL AND MOBILE

ASSET DATA

PLATFORM


Enabling Digital, Data Driven IntegrationPerformance Assurance

34

Products & Service Lines

+ Implementing standard work practices across the

company to enhance safety, quality and productivity

+ Providing technical support and peer reviews via a

dedicated SME network

+ Delivering discrete services and integrated solutions

Operational Regions

+ Driving execution compliance focused on safety

and quality

+ Aligning regional leadership with client operations

for enhanced planning and service delivery

+ Producing an efficient, cost-effective and

scalable organization

Workforce Management

+ Optimizing utilization and productivity of our

qualified technicians

+ Ensuring deployment of top-tier technicians with

centralized project and resource planning

+ Investing in technician training, development

and certification programs

Innovation & Technology

+ Committing to R&D investment program, sustaining and

application engineering

+ Engaging in active collaboration with clients

+ Driving performance assurance through quality digital data

and analytics

+ Establishing digital workflow processes and data automation

Engineering & Manufacturing

+ Employing standard engineering data management systems

to reduce design time

+ Investing in automated manufacturing and robotics enhancing

quality and delivery systems and timing

+ Establishing global centers of excellence


TEAM DigitalBUILDING THE ECOSYSTEM TO SUPPORT ASSET MANAGEMENT

Integration Points and APIs

Securely Hosted Global Infrastructure

Digitally-Enabled

Technicians and Mobile

Applications

• Client Data Portals & Data Integration

• Planning and Dispatch, QA/QC, Asset Centric Data

• Advanced Analytics and Engineering Services

Over 450TEAM technicians trained

More than75,000successful inspections completed

on the TEAM Digital platform

since commercializationField Data

Collection

Data Entry

Into IDMS

Data

Analysis &

RBI

Next

Inspection

Compliance

Assurance

35


Differentiating Engineered Technologies

36

INNOVATION AND TECHNOLOGY

FTIS™ Ultrasonic Intelligent Pig MANTISTM external crawler

Corrosion illustrated in patented 2D and

3D graphics

Custom Flow Loop and Test Facility

Proprietary Inspection Technologies and Software Solutions

+ Advanced Inspection – Globally standardized inspection solutions

+ InVista – In-line Inspection (ILI) system for un-piggable pipelines and buried or

inaccessible process piping

+ FTIS – Furnace Tube Inspection System for fired heater serpentine coils

+ LOTIS – Laser Optic Tube Inspection System for steam reformer tubes

+ MANTIS – External tube crawler for steam reformer tubes

Solutions for Target Markets

+ Pipeline Integrity Management – Midstream, Subsea

+ Fired Heater Integrity Management – Refining, Petrochemical, Chemical

+ Plant & Facility Piping Integrity Management – Refining, Petrochemical, Chemical

+ Steam Reformer Integrity Management – Syngas, Refining

+ Power Asset Integrity Management – Thermal, Geothermal, Hydro, Nuclear


Outline

37

1 WHO WE ARE

2 WHAT WE DO


4 MARKET DYNAMICS



7 CONCLUSION


Financial Highlights – Full Year 2020

38

FINANCIAL HIGHLIGHTS

ADJUSTED EBITDA

$40.0M

OPERATING CASH FLOW

$52.8M

FREE CASH FLOW

$32.8M

GROSS MARGIN

28.0%

Gross Margin

+ Gross margin percentage for full year 2020, in-line with full year 2019

SG&A

+ Reduced SG&A by $67.3 million in 2020 or 20.5% compared to 2019

+ SG&A in 2020 was the lowest amount since 2016

Debt Paydown

+ Generated free cash flow of $32.8 million in 2020 – highest level since

2016

+ Refinanced capital structure, extended debt maturities, and repurchased

$137 million of senior convertible notes

Note: Non-GAAP items reconciliation provided in the Appendix section of this presentation


Financial Priorities

39


Focus on Margin Expansion

+ Gross margin and EBITDA margin

closely monitored with a focused

intent to ensure cost management

and profitable revenue.

Responsible & Profitable

Revenue Growth

+ Key focus on expanding higher

margin revenue and maintaining

responsible organic growth.

Reduce Leverage

+ Free cash flow generation and used to

de-lever.


$86

$137 $26

$250

$46

$93

2020 2021 2022 2023(August)

2024(December)

2025 2026(December)

Refinancing Enhances Operating and Strategic Flexibility

Increased Financial Flexibility

• Enhances the company’s liquidity

• Eliminates several maintenance covenants

Extended Debt Maturities

• Extends debt maturity by 3 years1

• Access to attractive ABL financing as end-markets recovery

improves borrowing base

Optimized the Capital Structure

• Repurchase of Convertible Notes reduces potential dilution

• Provides management with increased flexibility to pursue long-

term stockholder value creation opportunities

($ in millions)

Maturity Schedule

Implied

ABL Draw3

1st Lien

Term Loan

(1) Calculated as weighted average duration of all outstanding debt instruments. Assumes that the Term Loan and ABL Facility maturities do not spring;

each facility is subject to early termination if $50 million or more of the Convertible Notes are outstanding 120 days prior to the maturity of the notes

(2) Revolver outstandings as of September 30th, 2020

(3) Excludes Q4 2020 cash flow impact, associated deal fees, and accrued interest

Face Value of

Converts Post-

Repurchases


New $150M ABL Facility

New $250M 1St Lien Term Loan

Retired

Revolver and

Term Loan2

40


Outline

41

1 WHO WE ARE

2 WHAT WE DO


4 MARKET DYNAMICS



7 CONCLUSION


TEAM Investment Thesis

42

CONCLUSION

Diverse Revenue Stream & Blue-Chip Clients

Premier Products & Service Portfolio

Flexible Asset Light Business Model

Disciplined Margin Expansion Strategy

Efficient Free Cash Flow Conversion

Focus on Safety & Sustainability


TEAM exists to ensure the energy that fuels a better tomorrow.

OUR PURPOSE

Investor Relations13131 Dairy Ashford, Suite 600, Sugar Land, Texas 77478

+1 281.388.5500 I [email protected]

Appendix


Non-GAAP Financial Measures (Unaudited)

45

The Company uses supplemental non-GAAP financial measures which are derived from the consolidated financial information including adjusted net income (loss); adjusted net income

(loss) per diluted share, earnings before interest and taxes (“EBIT”); adjusted EBIT (defined below); adjusted earnings before interest, taxes, depreciation and amortization (“adjusted

EBITDA”) and free cash flow to supplement financial information presented on a GAAP basis.

The Company defines adjusted net income (loss), adjusted net income (loss) per diluted share and adjusted EBIT to exclude the following items: costs associated with our OneTEAM

program, costs associated with the Operating Group Reorganization, non-routine legal costs and settlements, restructuring charges, certain severance charges, goodwill impairment

charges, loss on debt extinguishment and certain other items that we believe are not indicative of core operating activities. Consolidated adjusted EBIT, as defined by us, excludes

the costs excluded from adjusted net income (loss) as well as income tax expense (benefit), interest charges, foreign currency (gain) loss, and items of other (income) expense.

Consolidated adjusted EBITDA further excludes from consolidated adjusted EBIT depreciation, amortization and non-cash share-based compensation costs. Segment adjusted EBIT

is equal to segment operating income (loss) excluding costs associated with our OneTEAM program, costs associated with the Operating Group Reorganization, non-routine legal

costs and settlements, restructuring charges, certain severance charges, goodwill impairment charges and certain other items as determined by management. Segment adjusted

EBITDA further excludes from segment adjusted EBIT depreciation, amortization, and non-cash share-based compensation costs. Free cash flow is defined as net cash provided by

(used in) operating activities minus capital expenditures. Net debt is defined as the sum of the current and long-term portions of debt, including finance lease obligations, less cash

and cash equivalents.

Management believes these non-GAAP financial measures are useful to both management and investors in their analysis of our financial position and results of operations. In

particular, adjusted net income (loss), adjusted net income (loss) per diluted share, consolidated adjusted EBIT, and consolidated adjusted EBITDA are meaningful measures of

performance which are commonly used by industry analysts, investors, lenders and rating agencies to analyze operating performance in our industry, perform analytical

comparisons, benchmark performance between periods, and measure our performance against externally communicated targets. Our segment adjusted EBIT and segment adjusted

EBITDA is also used as a basis for the Chief Operating Decision Maker to evaluate the performance of our reportable segments. Free cash flow is used by our management and

investors to analyze our ability to service and repay debt and return value directly to stakeholders.

The non-GAAP financial measures are not meant to be considered as indicators of performance in isolation from or as a substitute for net income (loss) as a measure of operating

performance or to cash flows from operating activities as a measure of liquidity, prepared in accordance with GAAP, and should be read only in conjunction with financial information

presented on a GAAP basis. Reconciliations of each non-GAAP financial measure to its most directly comparable GAAP financial measure are presented below. You are

encouraged to review the reconciliations in conjunction with the presentation of the non-GAAP financial measures for each of the periods presented.


Capitalization Summary

46


LTM = Last 12 Months

(1) Does not reflect unamortized discount, issuance costs and embedded derivative

(2) Other Debt includes Capital Lease Obligations and Letters of Credit Outstanding not issued under the facility

(3) Adjusted EBITDA reported as per the covenant calculation

Non-GAAP items reconciliation provided in the Appendix section

Millions USD

March 31, December 31, September 30, June 30, March 31,

2021 2020 2020 2020 2020

(unaudited) (unaudited) (unaudited) (unaudited)

Credit Statistics:

Cash and cash equivalents $22 $25 $20 $16 $21

Bank Credit Facility 28 9 86 68 94

Credit facility term loan 46 48 49

Term loan 250 250

Sr. Secured Debt $278 $259 $132 $114 $143

Letters of credit outstanding 20 20 20 18 18

Total Sr. Secured Debt $298 $279 $152 $132 $161

Convertible Notes(1) 93.0 93 230 230 230

Other Debt(2) 6 6 7 7 7

Total Debt $397 $378 $389 $368 $398

LTM Adjusted EBITDA(3) (unaudited) $39 $41 $52 $51 $71

Secured Debt / LTM Adjusted EBITDA (unaudited) 7.64x 6.73x 2.92x 2.61x 2.27x


Revenues and Adjusted EBITDA

47


$(000’s) USD

(1)

(2)

(1) Exclusive of the goodwill impairment charge, operating income for IHT was a loss of ($362)

(2) Exclusive of the goodwill impairment charge, operating Income was a loss of ($21,144)

Non-GAAP items reconciliation provided in the Appendix section

2020 2019 2020 2019 2021 2020

(unaudited) (unaudited) (unaudited) (unaudited)

Revenues

IHT 374,740 512,950 89,748 120,857 91,139 107,881

MS 392,484 535,372 93,407 133,324 87,396 104,519

Quest Integrity 85,315 114,992 24,148 33,626 16,083 24,439

852,539 1,163,314 207,303 287,807 194,618 236,839

Operating Income (loss) ("EBIT")

IHT (174,638) 24,084 5,052 6,226 364 (192,150)

MS 25,879 55,385 5,377 13,663 115 1,022

Quest Integrity 16,474 28,757 6,673 10,667 (252) 6,106

Corporate (85,077) (110,372) (19,463) (27,338) (24,527) (27,910)

(217,362) (2,146) (2,361) 3,218 (24,300) (212,932)

Adjusted EBIT (unaudited)

IHT 18,743 24,333 5,498 6,347 839 (354)

MS 29,406 55,803 5,432 13,964 254 1,152

Quest Integrity 16,991 28,819 6,864 10,667 (43) 6,106

Corporate (77,328) (87,810) (18,150) (21,562) (19,682) (24,067)

(12,188) 21,145 (356) 9,416 (18,632) (17,163)

Adjusted EBITDA (unaudited)

IHT 33,634 41,949 9,051 10,670 4,309 3,629

MS 51,260 77,638 10,889 19,456 5,693 6,583

Quest Integrity 20,578 32,376 7,709 11,491 669 6,992

Corporate (65,445) (71,704) (14,572) (18,457) (16,014) (21,129)

40,027 80,259 13,077 23,160 (5,343) (3,925)

Three Months Ended

March 31,

Three Months Ended

December 31,

Twelve Months Ended

December 31,


Adjusted EBITDA and Free Cash Flow Reconciliation

48

$(000’s) USD

FY-2018 FY-2019 FY-2020 Q2-2020 Q3-2020 Q4-2020 Q1-2021

(unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited)

Adjusted Net Income (loss):

Net income (loss) (64,802) (32,417) (237,203) (13,528) (9,073) (14,875) (34,291)

ERP costs 87 - - - - - -

Professional fees and other 23,820 16,448 5,062 512 929 1,076 1,146

Legal fees 2,000 5,167 1,947 446 230 21 2,475

Natural disaster costs - - 500 - 500 - -

Asset write-offs/disposals 1,429 - - - - - -

Restructuring and other related charges (credits), net 6,727 1,676 5,877 3,180 1,635 876 2,047

Goodwill impairment loss - - 191,788 - - - -

Gain on revaluation of contingent consideration (202) - - - - - -

Investment gain (978) - - - - - -

Loss on debt extinguishment - - 2,224 - - 2,224 -

Gain on convertible debt embedded derivative 24,783 - - - - - -

Tax impact of adjustments and other net tax items (16,147) (4,891) (16,491) (868) (692) (881) (1,190)

Adjusted net income (loss) (23,283) (14,017) (46,296) (10,258) (6,471) (11,559) (29,813)

Adjusted net income (loss) per common share:

Basic (0.78)$ (0.46)$ (1.51)$ (0.33)$ (0.21)$ (0.38)$ (0.97)$

Diluted (0.78)$ (0.46)$ (1.51)$ (0.33)$ (0.21)$ (0.38)$ (0.97)$

Consolidated Adjusted EBIT and Adjusted EBITDA

Net income (loss) (64,802) (32,417) (237,203) (13,528) (9,073) (14,875) (34,291)

Provision (benefit) for income taxes (29,407) (436) (14,715) 1,683 2,958 1,097 (355)

Interest expense, net 30,875 29,992 29,818 7,314 7,757 7,971 9,396

Loss (Gain) on convertible debt embedded derivative 24,783

Write-off of deferred loan costs

Investment gain (978)

Foreign currency loss (gain) 1,712 494 2,758 752 1,117 1,123

Pension expense (credit) (1,418) 198 (244) (129) 137 (173)

Loss on debt extinguishment 2,224 2,224

Other expense (credit) 274 23 165 - -


ERP costs 87

Legal fees 2,000 5,167 1,947 446 230 21 2,475

Severance charges, net 6,727 1,676 5,877 3,180 1,635 876 2,047

Natural disaster costs - - 500 - 500 - -

Asset write-offs/disposals 1,429

Gain on revaluation of contingent consideration (202)


Consolidated Adjusted EBIT (5,100) 21,145 (12,188) (228) 5,559 (356) (18,632)

Depreciation and amortization

Amount included in operating expenses 27,140 24,816 23,105 5,786 5,794 5,588 5,514

Amount included in SG&A 37,722 24,243 22,803 5,692 5,729 5,611 5,445

Total depreciation and amortization 64,862 49,059 45,908 11,478 11,523 11,199 10,959

Non-cash share-based compensation costs 12,256 10,055 6,307 1,416 1,127 2,234 2,330

Consolidated Adjusted EBITDA from Net Loss 72,018 80,259 40,027 12,666 18,209 13,077 (5,343)

Free Cash Flow:

Cash provided by Operating activities 41,859 58,836 52,764 26,328 (7,080) 32,599 (17,183)

Capial expenditures (27,164) (29,035) (19,958) (4,181) (4,198) (3,274) (3,413)

Free Cash Flow 14,695 29,801 32,806 22,147 (11,278) 29,325 (20,596)


Adjusted EBITDA Reconciliation by Segment

49

$(000’s) USD

FY-2018 FY-2019 FY-2020 Q2-2020 Q3-2020 Q4-2020 Q1-2021

(unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited)

Adjusted EBIT and Adjusted EBITDA by Segment:

IHT

Operating income (loss) ("EBIT") 37,329 24,084 (174,638) 4,740 7,720 5,052 364

Professional fees and other 1,086 - 21 - 21 - -

Natural Disaster costs - - - - - - -

Asset write-offs/disposals - - - - - - -

Restructuring and other related charges (credits), net 2,995 249 1,572 1,030 88 446 475


Gain on revaluation of contingent consideration - - - - - - -

Adjusted EBIT 41,410 24,333 18,743 5,770 7,829 5,498 839

Depreciation and amortization 18,810 17,616 14,891 3,746 3,609 3,553 3,470

Segment Adjusted EBITDA from Operating Income 60,220 41,949 33,634 9,516 11,438 9,051 4,309

MS

Operating income (loss) ("EBIT") 6,323 55,385 25,879 9,899 9,581 5,377 115

Professional fees and other 315 - - - - - -

Natural Disaster costs - - 479 - 479 - -

Asset write-offs/disposals/other 1,429 - - - - - -

Restructuring and other related charges (credits), net 2,514 418 3,048 1,537 1,326 55 139

Goodwill impairment loss - - - - - - -

Adjusted EBIT 10,581 55,803 29,406 11,436 11,386 5,432 254


Segment Adjusted EBITDA from Operating Income 46,758 77,638 51,260 16,911 16,877 10,889 5,693

Quest Integrity

Operating income (loss) ("EBIT") 20,138 28,757 16,474 689 3,006 6,673 (252)

Restructuring and other related charges (credits), net 418 62 517 140 186 191 209

Adjusted EBIT 20,556 28,819 16,991 829 3,192 6,864 (43)

Depreciation and amortization 4,285 3,557 3,587 887 969 845 712

Segment Adjusted EBITDA from Operating Income 24,841 32,376 20,578 1,716 4,161 7,709 669

Corporate and shared support services

Net income (loss) (128,592) (140,643) (104,918) (31,563) (29,380) (31,977) (34,518)

Provision (benefit) for income taxes (29,407) (436) (14,715) 1,683 2,958 1,097 (355)

Interest expense, net 30,875 29,992 29,818 7,314 7,757 7,971 9,396

Loss (Gain) on convertible debt embedded derivative 24,783 - - -

Write-off of deferred loan costs - - - - - - -

Investment gain (978) - - - - - -

Foreign currency loss (gain) 1,712 494 2,758 752 1,117 1,123

Pension expense (credit) (1,418) 198 (244) (129) 137 (173)

Loss on debt extinguishment 2,224 2,224

Other expense (credit) 274 23 165 - - -


ERP costs 87 - - - - -

Legal fees 2,000 5,167 1,947 446 230 21 2,475

Severance charges, net 800 947 740 3,180 35 184 1,224

Natural disaster costs - - - -

Gain on revaluation of contingent consideration (202) - -

Adjusted EBIT (77,647) (87,810) (77,328) (18,263) (16,848) (18,150) (19,682)


Non-cash share-based compensation costs 12,256 10,055 6,307 1,416 1,127 2,234 2,330

Segment Adjusted EBITDA from Operating Income (59,801) (71,704) (65,445) (15,477) (14,267) (14,572) (16,014)

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