INVESTOR PRESENTATIONNOVEMBER 2018

FORWARD-LOOKING STATEMENTS

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Cautionary Statement Regarding Forward-Looking Statements

The statements contained in this presentation and any oral statements made in connection with this presentation that are not historical facts are forward-looking

statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,”

“anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue,” and similar expressions are intended to identify such forward-looking

statements. The statements in this presentation that are not historical statements, including statements regarding the Company’s plans, objectives, future

opportunities for the Company’s services, future financial performance and operating results, the number of active fleets in the fourth quarter of 2018, the number of

reactivations in the first quarter of 2019, targeted debt and free cash flow levels, further deleveraging, returns to stockholders and any other statements regarding

FTSI’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-

looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond

FTSI’s control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but

are not limited to the operations of FTSI; results of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in

customer spending and in oil and natural gas prices, which could adversely affect demand for FTSI's services and their associated effect on rates, utilization, margins

and planned capital expenditures; global economic conditions; excess availability of pressure pumping equipment, including as a result of low commodity prices,

reactivation or construction; liabilities from operations; weather; decline in, and ability to realize, backlog; equipment specialization and new technologies; shortages,

delays in delivery and interruptions of supply of equipment and materials; ability to hire and retain personnel; loss of, or reduction in business with, key customers;

difficulty with growth and in integrating acquisitions; product liability; political, economic and social instability risk; ability to effectively identify and enter new markets;

cybersecurity risk; dependence on our subsidiaries to meet our long-term debt obligations; variable rate indebtedness risk; and anti-takeover measures in our charter

documents.

Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to

time in FTSI's Securities and Exchange Commission (“SEC”) filings, including the most recently filed Forms 10-Q and 10-K. FTSI's filings may be obtained by

contacting FTSI or the SEC or through FTSI's website at http://www.FTSI.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System

(EDGAR) at http://www.sec.gov. FTSI undertakes no obligation to publicly update or revise any forward-looking statement except as required by law.

Statements made in this presentation include non-GAAP financial measures. The required reconciliation to GAAP financial measures are included at the end of this

presentation.

Nothing in this presentation shall constitute a solicitation to buy or an offer to sell shares of FTSI's common stock.

Company Overview

Michael DossChief Executive Officer

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IMAGINE MORE

Too often, we settle. We settlefor the average. The ordinary.The run‐of‐the mill. We tellourselves this is just the way itis. This is as good as it gets. Andthat we should simply acceptwhat is presented, and make do.

But, wouldn’t it be nice to giveourselves permission to imaginemore? FTSI is a company whereimagining more isn’t justencouraged, it’s expected. It’s aplace where limits simply don’texist. And the opportunity tosucceed is within everyone’sgrasp, every single day.

More Focus

More Innovation

More Grit

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LEADER IN HYDRAULIC FRACTURING

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NYSE: FTSIIPO February 2018

Headquarters Fort Worth, TX

Shares Outstanding 109.3 Million

Market Capitalization $1.2 Billion

Equipment(1) 34 Fleets / 1.7mm HHP

(1) Includes 50,000 HHP of newbuild capacity.

FTS International, Inc. 

• Large, pure‐play provider of 

hydraulic fracturing services

1.7 million total HHP capacity(1)

Operational footprint covers 

majority of new wells expected 

through 2020

LEADER IN PROFITABILITY & EFFICIENCY

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Consistently among industry 

leaders in margins, annualized 

EBITDA per fleet and capex per 

fleet

Significant economies of scale, yet 

nimble

Strong operational performance

combined with adaptive 

commercial strategy

$20

$87

$127$139 $129

$141

$95$4

$16

$21 $21

$19$20

$17

 $‐

 $5

 $10

 $15

 $20

 $25

 $‐

 $50

 $100

 $150

 $200

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18

Adjusted EBITDA Annualized Adj. EBITDA per Fleet

Strong EBITDA Performance(1)

(1) See Appendix for a reconciliation of Adjusted EBITDA and Adjusted EBITDA, excluding supply commitment charge, to net income.(2) 3Q18 Adjusted EBITDA and Annualized Adjusted EBITDA per fleet exclude a $10 million supply commitment charge. Please see FTSI’s latest 10Q filing for more information on this 

charge.

$ in millions

(2)

COMPELLING INVESTMENT THESIS

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Large, pure play provider of hydraulic fracturing services

• Market leading positions in the most active basins

• 1.7 million total HHP across 34 fleets with idle fleets ready to be reactivated 

quickly and cost‐effectively

Vertically integrated with in‐house manufacturing that drives what we believe are 

the lowest opex and capex requirements in the industry

Culture built on safety and innovation 

Low cost structure allows us to maximize returns in any market

• Highest free cash flow yield in the industry – 3Q annualized yield was 18%(1)

(1) Annualized yield calculated by taking third quarter 2018 free cash flow, excluding changes in operating assets and liabilities and multiplying it by four; then dividing by common shares outstanding; then dividing the result by the third quarter 2018 VWAP. Please see appendix for reconciliation of free cash flow and free cash flow, excluding changes in operating assets and liabilities, to net income.

OPERATIONAL FOOTPRINT IN ACTIVE BASINS

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Currently have 19 fleets active and expect to average 18 active in 4Q

Expect to reactivate fleets in 1Q with dedicated customers

Corporate Headquarters (Fort Worth, TX)Manufacturing Facility (Fort Worth, TX)Maintenance & Refurb Facility (Aledo, TX)District Locations

Legend

(1) Overhead functions have been consolidated with other locations

Permian BasinActive Fleets 12District Fleets 5District Location Odessa, TX

MidcontinentActive Fleets 0District Fleets 5District Location Elk City, OK

Haynesville ShaleActive Fleets 1District Fleets 1 (Mobile)

District Location(1) Longview, TX

Marcellus/Utica ShaleActive Fleets 4

District Fleets 4District Location Washington, PA

Eagle Ford ShaleActive Fleets 2District Fleets 4District Location Pleasanton, TX

VERTICAL INTEGRATION DELIVERS SIGNIFICANT COST ADVANTAGES

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Operating Expenses Maintenance Capex Growth Capex

We manufacture our own fluid ends and perform substantially all non‐capex, recurring maintenance in‐house

We perform all engine, transmission and blender refurbs in‐house

We manufacture and rebuild all of our own power ends

We build all new fleets and implement design enhancements 

• Ancillary equipment like blenders also built in‐house

Outstanding Returns on Investment

~50% cost advantage versus buying fluid ends 

from third parties

~$2.5 million per fleet per year; one of the lowest maintenance capex requirements in the 

industry

Newbuild cost of ~$25 million per 50k HHP fleet including all ancillary 

equipment

COST EFFECTIVE REFURBS SHIELD EQUIPMENT FROM ATTRITION

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Frac Pump

Engine Transmission Power End Total per Fleet

Refurb Cost $90 $45 $45 $140 x20 $6.4M

Average YearsBetween Refurbs 4.0 3.5 2.5 2.0 ‐ 2.6

Refurb Costper Year $23 $13 $18 $70 x20 $2.5M

Other 20 Pumpsper FleetCost in ‘000s unless noted

CENTRALIZED FLEET MONITORING ENABLES CONSISTENT, RELIABLE OPERATIONS

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National Operations Center operates 24/7, monitoring real‐time job and equipment data

Centralized location of engineering functions enables sharing of knowledge and best practices across organization

Dedicated workstation for each fleet

Assists in development of equipment automation algorithms

Enhances customers’ data analytics capabilities

SENSOR TECHNOLOGY GIVES OUR EQUIPMENT A “VOICE”

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Only top 1% of the market fully leverages 21st century technology to optimize equipment performance and design

2016 | Stage 1

Catch Failures2016 | Stage 1

Catch Failures2017 | Stage 2

Reduce Damage2017 | Stage 2

Reduce Damage2018+ | Stage 3

Change Behavior

Smoke detector model• Immediate identification 

of anomalies

We began monitoring vibrations on all of our fleets allowing us to create a baseline of normal operating conditions

Cloud‐based machine health monitoring

Early warnings based on predicative models that leverage historical data

Utilized vibration signatures to augment operations and reduce damage accumulation

Identify and mitigate root causes of failure

Led to re‐designs of our fluid ends to allow for longer life and materials cost optimization

Supported re‐design of other components to reduce wear and tear upstream from our pumps

DUAL FUEL FRAC FLEETS

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What is Dual Fuel?

A fleet that has been retrofitted to burn lower‐cost natural gas and diesel fuel simultaneously

• We have 88 dual fuel pumps

• Can quickly retrofit an existing fleet for ~$2 million

Natural gas supplied through customer‐sourced gas or through third parties

If source becomes unavailable, engines can utilize 100% diesel fuel with no interruption to operations

Benefits of Dual Fuel

CostSavingsCost

Savings

~70% substitution, resulting in fuel savings of over $20,000 per day(1)

EfficientOperationsEfficient

Operations

Streamlined supply chain and increased efficiency due to fewer trucks on site 

ReducedEmissionsReducedEmissions

Significant reduction in emissions with cleaner‐burning natural gas

Dual fuel provides value to customersthrough cost savings and efficiency gains

(1) At latest available monthly average diesel and LNG prices per EIA; cost savings net of incremental gas cost; per fleet

RETURNS-FOCUSED APPROACH

16 |(1) Annualized Adjusted EBITDA per active fleet was $17.4 million in Q3 2018 and excludes a supply commitment charge of $10 million.(2) Due to tax amortization of intangible assets and utilization of net operating loss carryforwards.

Solid operational execution with a focus on efficiency

Low operating expenses, low SG&A, and low maintenance capex

Tax amortization of goodwill and NOLs eliminate cash taxes

$17mmEBITDAper fleet (1)

$2.5mmMaintenance 

capex per fleet (2)

ZeroEffective federal 

tax rate (3)

Best in class free cash flow

$1,081  $1,069  $1,014  $922 

$580  $509 $398 

 $‐

 $400

 $800

 $1,200

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18

Net Debt (1) Gross Debt

STRENGTHENING BALANCE SHEET

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Since the beginning of 2017 we have significantly reduced our net debt while also building working capital 

by over $100 million

Line of sight to reach debt target with excess cash flow available for additional growth, further 

deleveraging and/or returns to shareholders

$ in millions

$565

$683mm reduction in net debt

$380mmmore than 

IPO proceeds

(1) Net debt calculated as total principal amount of debt less cash and cash equivalents. Please see Appendix for reconciliation of net debt to long‐term debt.

STRONG FINANCIAL & OPERATIONAL PERFORMANCE

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$213.5 

$344.9 

$449.0  $458.7  $467.5  $493.3 

$334.4 

 $‐

 $100

 $200

 $300

 $400

 $500

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18

Stages per Active Fleet

$ in millions

($20.1)NetIncome $78.7$92.9$83.6$44.3

$ in millions

20.0Active Fleets 27.526.224.822.3

326.2 356.6 

330.5  314.8  296.4 334.1  320.7 

 ‐

 100

 200

 300

 400

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18

$20.0 

$86.8 

$127.4 $138.5 

$129.1 $141.3 

$95.0 

 $‐

 $25

 $50

 $75

 $100

 $125

 $150

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18

$4.0 

$15.6 

$20.5  $21.1 $18.8 

$20.2 $17.4 

 $‐

 $5

 $10

 $15

 $20

 $25

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18

28.0

$103.6

Revenue & Net Income

Annualized Adjusted EBITDA per Active Fleet(1)

Adjusted EBITDA & Capex(1)

$ in millions

$6.7 $37.8$30.6$13.6$13.1 $28.5Capex$49.6 $18.6

21.8

(1) See Appendix for a reconciliation of Adjusted EBITDA and Adjusted EBITDA, excluding supply commitment charge, to net income. 3Q18 Adjusted EBITDA and Annualized Adjusted EBITDA per fleet exclude a $10 million supply commitment charge. 

APPENDIX

ADJUSTED EBITDA RECONCILIATION

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Adjusted EBITDA is a non‐GAAP financial measure that FTSI defines as earnings before interest; income taxes; and depreciation and amortization, as well as, the following items, if applicable: gain or loss

on disposal of assets; debt extinguishment gains or losses; inventory write‐downs, asset and goodwill impairments; gain on insurance recoveries; acquisition earn‐out adjustments; stock‐based

compensation; and acquisition or disposition transaction costs. Adjusted EBITDA, excluding a supply commitment charge, is a non‐GAAP measure that further adjusts Adjusted EBITDA to exclude a

supply commitment charge. The most comparable financial measure to Adjusted EBITDA and Adjusted EBITDA, excluding a supply commitment charge, under GAAP is net income or loss. Adjusted

EBITDA and Adjusted EBITDA, excluding a supply commitment charge, are used by management to evaluate the operating performance of the business for comparable periods and Adjusted EBITDA is a

metric used for management incentive compensation. Adjusted EBITDA and Adjusted EBITDA, excluding a supply commitment charge, should not be used by investors or others as the sole basis for

formulating investment decisions, as it excludes a number of important items. The Company believes Adjusted EBITDA and Adjusted EBITDA, excluding a supply commitment charge, are important

indicators of operating performance because they exclude the effects of its capital structure and certain non‐cash items from its operating results. Adjusted EBITDA is also commonly used by investors in

the oilfield services industry to measure a company's operating performance, although FTSI’s definition of Adjusted EBITDA may differ from other industry peer companies.

Please see FTSI’s latest 10Q filing for more information about the supply commitment charges for why management believes this charge should be excluded from 3Q18 results for comparability

purposes with prior periods.

($ in millions except average active fleets) Three Months Ended Year Ended Three Months EndedMar 31, 2017 Jun 30, 2017 Sep 30, 2017 Dec 31, 2017 Dec 31, 2017 Mar 31, 2018 Jun 30, 2018 Sep 30, 2018

Net income (loss) (20.1)$ 44.3$ 83.6$ 92.9$ 200.7$ 78.7$ 103.6$ 49.6$ Interest expense, net 21.2 21.5 22.1 21.9 86.7 17.4 12.1 10.4 Income tax expense 0.1 0.4 0.4 0.7 1.6 1.0 0.9 0.2 Depreciation and amortization 21.8 21.3 22.1 21.4 86.6 20.6 20.7 21.1 (Gain) loss on disposal of assets, net (0.4) (0.4) (0.8) 0.2 (1.4) 0.5 (0.2) (0.1) Gain on insurance recovery (2.6) (0.3) - - (2.9) - - - Loss on extinguishment of debt, net - - - 1.4 1.4 9.3 0.8 0.6 Stock-based compensation - - - - - 1.6 3.4 3.2 Adjusted EBITDA 20.0 86.8 127.4 138.5 372.7 129.1 141.3 85.0Average active fleets 20.0 22.3 24.8 26.2 23.3 27.5 28.0Annualized Adjusted EBITDA per fleet 4.0$ 15.6$ 20.5$ 21.1$ 16.0$ 18.8$ 20.2$

Adjusted EBITDA 85.0$ Add: supply commitment charge 10.0Adjusted EBITDA, excluding supply commitment charge

95.0

Average active fleets 21.8Annualized Adjusted EBITDA, excluding supply commitment charge, per fleet 17.4$

NET DEBT RECONCILIATION

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Net debt, excluding unamortized discount and debt issuance costs, is a non‐GAAP financial measure that FTSI defines as total principal amount of debt (also referred to as gross debt) less cash and cash

equivalents. The most comparable financial measure to net debt, excluding unamortized discount and issuance costs, under GAAP is long‐term debt. Net debt, excluding unamortized discount and

issuance costs, is used by management as a measure of our financial leverage. Net debt, excluding unamortized discount and issuance costs, should not be used by investors or others as the sole basis in

formulating investment decisions as it does not represent the Company’s actual indebtedness.

($ in millions) Mar 31, 2017 Jun 30, 2017 Sep 30, 2017 Dec 31, 2017 Mar 31, 2018 Jun 30, 2018 Sep 30, 2018Senior floating rate notes due June 2020 350.0$ 350.0$ 350.0$ 290.0$ -$ -$ -$ Term loan due April 2021 431.0 431.0 431.0 431.0 331.0 231.0 161.0 Senior notes due May 2022 426.3 426.3 426.3 409.0 404.0 404.0 404.0 Total principal amount of debt 1,207.3 1,207.3 1,207.3 1,130.0 735.0 635.0 565.0 Less: cash and cash equivalents 126.7 138.5 193.8 208.1 155.5 126.3 167.2 Net debt, excluding unamortized discount and debt issuance costs 1,080.6$ 1,068.8$ 1,013.5$ 921.9$ 579.5$ 508.7$ 397.8$

FREE CASH FLOW RECONCILIATION

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Free cash flow is a non‐GAAP financial measure that FTSI defines as net cash provided by (used in) operating activities less capital expenditures. Free cash flow, excluding changes in operating assets and

liabilities, is a non‐GAAP financial measure that further adjusts free cash flow to exclude changes in operating assets and liabilities. The most comparable financial measure to free cash flow and free cash

flow, excluding changes in operating assets and liabilities, under GAAP is net cash provided by (used in) operating activities. Free cash flow and free cash flow, excluding changes in operating assets and

liabilities, are used by management to evaluate our ongoing business operations. Free cash flow and free cash flow, excluding changes in operating assets and liabilities, should not be used by investors

or others as the sole basis for formulating investment decisions, as they exclude important items. These calculations are commonly used as a basis for investors to evaluate and compare the operating

performance and value of companies within our industry, although FTSI’s definition of free cash flow and free cash flow, excluding changes in operating assets and liabilities, may differ from other

industry peer companies.

($ in millions) Three Months EndedSep 30, 2018

Net income (loss) 49.6$                               

Add: non cash itemsDepreciation, depletion and amortization 21.1Stock‐based compensation 3.2Amortization of debt discounts and issuance costs 0.5Impairment of assets and goodwill ‐                                   Loss on disposal of assets (0.1)Gain on insurance recovery ‐                                   Loss on extinguishment of debt 0.6Inventory write‐down ‐                                   Acquisition earn‐out adjustment ‐                                   Other non‐cash items 0.7

Net income adjusted for non cash items 75.6                                 Changes in operating assets and liabilities 53.5                                 

Net cash provided by (used in) operating activities 129.1                               Less: capital expenditures (18.6)                               

Free cash flow 110.5$                            

Free cash flow 110.5$                            Less: Changes in operating assets and liabilities (53.5)                               

Free cash flow, excluding changes in operating assets and liabilities 57.0$