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1©2020 TETRA Technologies, Inc.

Investor Presentation

March 2020


Forward Looking Statements & Non-GAAP Measures

Forward-Looking Statements

This presentation includes certain statements that are or may be deemed to be forward-looking statements. Generally, the use of words suchas “may,” “will,” “see”, “expect,” “intend,” “estimate,” “projects,” “anticipate,” “believe,” “assume,” “could,” “should,” “plans,” “targets” or similarexpressions that convey the uncertainty of future events, activities, expectations or outcomes identify forward-looking statements that thecompany intends to be included within the safe harbor protections provided by the federal securities laws. These forward-looking statementsinclude statements concerning expected results of operational business segments for 2020, estimated savings from cost reduction initiatives,estimated earnings, and statements regarding our beliefs, expectations, plans, goals, future events and performance, and other statementsthat are not purely historical. These forward-looking statements are based on certain assumptions and analyses made in light of ourexperience and our perception of historical trends, current conditions, expected future developments and other factors we believe areappropriate in the circumstances. Such statements are subject to a number of risks and uncertainties, many of which are beyond our control.Investors are cautioned that any such statements are not guarantees of future performance or results and that actual results or developmentsmay differ materially from those projected in the forward-looking statements. Some of the factors that could affect actual results are describedin the section titled “Risk Factors” contained in the Annual Reports on Form 10-K for TETRA Technologies, Inc. (“TTI”) and CSI CompresscoLP (“CCLP”) as well as other risks identified from time to time in the reports on Form 10-Q and Form 8-K filed by TETRA and CCLP with theSecurities and Exchange Commission. Statements in this presentation are made as of the date on the cover unless stated otherwise herein.TETRA and CCLP are under no obligation to update or keep current the information contained in this document.

For Further Disclosure Regarding the Use of Non-GAAP Measures see the Appendix.


Corporate Profiles

Listing and Ticker Symbol NYSE: TTI

NASDAQ: CCLP

Recent Share Price(1) $1.33 $1.80

Market Capitalization(1) $167M $85M

Enterprise Value(1,5) $372M $723M

Number of Shares/Units Outstanding(2) 125.5M 47.3M

Average Daily Trading volume(last 3 months) (1) 709,659 89,006

Distribution (3) $0.04

Distribution Yield(1) 2.2%

% of Ownership Interest by TTI(2,4) 35%

Headquarters The Woodlands, TX

(1) As of 2/25/2020 (2) As of 11/6/2019 for TTI and As of 2/26/2019 for CCLP (3) Q4-19 Annualized (4) Ownership interest includes LP and GP interests as of 9/30/2019 (5) Enterprise value is a non-GAAP financial measure. See “Non-GAAP Reconciliation” in appendix for more information and reconciliation


Business Segments

Focused on high growth, higher margin segments

• Differentiated offerings for fresh & produced water, automation, and sand management

• Leading position in the Permian Basin

• Compelling integrated water solutions offerings

• Industry leaders, >30% market share* for high density fluids

• Cost and delivery advantage as the only vertically integrated completion fluids provider

• Innovation leader (game-changing TETRA CS Neptune®

Completion Fluid System)

• Wide range of horsepower to address customer gas lift and gathering solutions

• Largest vertically integrated compression company

• Aftermarket services & new unit sales contribution require minimum additional capital

Water & Flowback Services Completion Fluids & Products Compression

* Management estimate; may not correspond to relevant markets anti-trust law

2019 Revenue Contribution By Segment

$279M (27%)$282M (27%) $477M (46%)


Q4-2019 Highlights

• $54.5 million of Adjusted EBITDA before discontinued operations was the highest Adjusted EBITDA quarter since Q2 2015

• Completion Fluids & Products Division delivered Adjusted EBITDA margin of 35.2%» Completed TETRA CS Neptune® completion fluids project in Gulf of Mexico

» Continue to grow our international offshore business with the award of three non-CS Neptune major projects in Asia-Pacific, West Africa and Brazil that are scheduled for completion in 2020

• Increased the number of integrated water management projects to a record of 28 during the quarter

• Latest sand separation technology named “SandstormTM” achieved greater than 95% sand removal efficiency in field trials compared to the more traditional sand cyclones removal efficiency of ~50%» Awarded a large service project in the Permian Basin upon finishing these trials, negotiating deployment of additional

units with same customer

• Steady compression services gross margins of 51.6% significantly up from 43.6% in Q4-18, and overall service fleet utilization of 90.0%

Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures. See “Non-GAAP Reconciliation” in appendix for more information and reconciliation


• Completed CS Neptune project in the fourth quarter of 2019

» Technically qualified or are in the process of qualifying with seven major operators for other potential future projects

» Encouraged with progress of and interest in Monovalent CS Neptune offering

• Year-over-year increased revenue to $1.04 billion from $999 million and adjusted EBITDA of $187 million from $161 million

• Restructured support functions to reduce SG&A expenses at the corporate level and North America onshore by an estimated $8M to $10M on an annualized basis, to help navigate a difficult onshore market

• Signed long-term low-cost raw material supply agreement for North America calcium chloride operations that is expected to further strengthen our targeted 20% Completion Fluids and Products adjusted EBITDA margin

» 20%+ Adjusted EBITDA margins for three consecutive quarters to end the year for non-Neptune Completion Fluids & Products

• CSI Compressco ended the year with net leverage ratio of 5.1x from a peak of 7.0x in Q2 2018

• Added over 98,000 aggregate horsepower to our compression services fleet with nearly 90% directed towards centralized gas lift for liquids or single well artificial lift for the growing inventory of late life horizontal wells, generating 20% or higher returns on capital

Adjusted EBITDA Margin and CCLP net leverage ratio are non-GAAP financial measures. See “Non-GAAP Reconciliation” in appendix for more information and reconciliation

2019 Highlights


Environmental• Recycle and reuse produced water

through integrated water management solution

• TETRA CS Neptune® completion fluids, an environmentally-friendly alternative to zinc-based fluids

HSEQ• Strong safety commitment and

culture with dedicated HSE staff• Supplier Code of Business Conduct• Driving monitors on all company

vehicles delivering positive behaviors

Communities• Engage in philanthropic efforts in

health, education, and community enrichment

• Support employees as they give back to their communities

Employees• Investing in career and leadership

development• Diversity and Inclusion Committee• Military hiring initiative• Human Rights Standards promote

universal human rights

Sustainability


Completion Fluids & Products


TETRA Worldwide Operations

Corporate Headquarters & Technology Center

Locations

Manufacturing Locations

Clear Brine Fluids Facilities

All North America Shale Basins

Brazil Deep WaterArgentina

Vaca Muerta

West Africa Deep Water

North Sea & Europe

Middle East


TETRA CS Neptune® Completion Fluids – Attractive Option to Zinc & Expensive Cesium Fluids

19.519.018.518.017.517.016.516.015.515.014.514.013.513.012.512.011.511.010.510.09.59.08.58.0

NaCI

NaBr / NaCI

Monovalent Brines Divalent Brines

Na Formate

K Formate

Cs/KFormate

ZnBr / CaBr / CaCl

CaCl / CaBr

CaCl

XHDD

HDD

Den

sity,

lb/g

al

XHDM

HDM

TETRACS Neptune

Kcl

Formate Brines

Incr

easi

ngP

rice

Increasing Price©2019 TETRA Technologies,Inc.

TERA CSNeptune® Completion

Fluids

Timeline of Key Accomplishments• 2014 TETRA enters into agreement with a

Supermajor Operator to develop high density Formate-Free and Zinc-Free Completion Fluids for GOM project

• 2015 TETRA commercializes TETRA CS Neptune®

Completion Fluids in GOM (Divalent with density range 14.3-15.4 lb/gal)

• 2015-2017 TETRA successfully executes 4 lower tertiary GOM projects with TETRA CS Neptune®

Completion Fluids

• 2019 TETRA introduces High Density Monovalent (HDM) up to 13.2 lb/gal, Extra High Density Monovalent (XHDM) up to 15.3 lb/gal and Extra High Density Divalent (XHDD) up to 17.5 lb/gal

TETRA CSNeptune® Completion

Fluids

2.3XDensityrange

increase over Gen I


TETRA CS Neptune® Completion Fluids GoM Market Opportunities

» 125 deepwater GoM explored blocks are in the TETRA CS Neptune pressure and temperature range

» Initial CS Neptune GoM project was Generation I and was used in just 1 of the 125 blocks

» The new High Density (HDD) and Extra High Density (XHDD) CS Neptune open the pressure and temperature window to address known pressures in all 125 blocks

» Although the number of deepwater well completions with reservoir pressures that fall into the CS Neptune density ranges reached a twenty-year low in 2019, we are seeing a growing pipeline of customer deepwaterprojects where we believe CS Neptune is the best solution

GOM Deepwater

New Orleans

GOM Shelf


Chemicals – Industrial Market

TETRA’s Vertical Integration Advantage• Long term raw material acid supply

agreement to feed chemical calcium chloride reaction process production

• Over $100M of TETRA’s Completion Fluids & Products revenue from stable and growing Industrial market segment

• Plants and facilities are fully built and require minimal capital to support.


Completion Fluids & Products

Multiple opportunities to capture growing demand w/out incremental capital investment

Key Financial Drivers

• Q4-19 Adjusted EBITDA margin of 35.2%, with the benefit of TETRA CS Neptune project

• Growing pipeline of customer deepwater projects where CS Neptune is the best solution. Currently in various stages of testing and qualification for seven different customer projects

• Base completions fluids & products Adjusted EBITDA margin excluding CS Neptune above 20% for three consecutive quarters and expected to be above 20% with the long-term raw material supply agreement announced in December

Revenue ($M)

Adjusted EBITDA ($M) and Margins

Adjusted EBITDA and adjusted EBITDA margins are non-GAAP financial measures. See “Non-GAAP Reconciliation” in appendix for more information and reconciliation to net loss(1) Source: Baker Hughes

(2)

$205 $258 $257 279

-

80

160

240

320

400

$0

$80

$160

$240

$320

2016 2017 2018 2019

Revenue Global Offshore rigcount

18%

26%

18%

25%

0%5%10%15%20%25%30%

$0

$20

$40

$60

$80

$100

2016 2017 2018 2019

Adj. EBITDA Adj. EBITDA Margin


Water & Flowback Services



Focusedon KeyMarkets

BalancedCustomer

Base

Product andServiceOffering

• Strong North American presence – operating in all key U.S. shale basins. Market leader in the Permian Basin

• Presence in key international markets – North Sea, Middle East, Latin America

• In U.S., shifting more towards super majors and independents

• In International markets, pursuing avenues and models to operate and grow profitably

• Focused on differentiated technologies and service delivery

• Implementing automation to reduce HSE risk, increase efficiency, and save costs


Water Management Services Market

Focused on value-added, differentiated, environmentally friendly offerings in the highest return on investment water market segments

Water Services Market (2019)

*Source: Spears & Associates report on October 2019

ServiceSegment

% of Total Market

CAGR%2019-2023

Disposal 30.0% 4.2%Acquisition 10.5% 3.0%

Hauling 27.1% 4.0%Treatment 11.2% 15.8%Flowback 5.4% 4.0%Transfer 5.4% 9.6%Storage 10.5% 8.6%

Market$23.6 billion*

Treatment/Recycle fastest growing segment

Hauling risk exposure to infrastructure

Disposal/acquisition risk exposure to recycle

Capital Intensity Exposure to

Recycle

TETRA Offerings


Oil Recovery

Integrated & Automated Water Management Solution

Sourcing

Flowback

Recycling

Poly Pipe & PipelineTemporary Transfer

BlendingDistribution

Pit Lining

Automation & Monitoring

Storage

TETRA BlueLinxTM

Automated Control System


Technological Innovation –Focused on Creating Differentiation

• Excellent sand capture with 90–96% efficiency (vs. 45-55% efficiency traditional units) in numerous trials and operations, without restricting flowrate

• Modular design adaptable to different operating conditions• Reduces personnel, risk, and associated costs

SandStormTM

Advanced Cyclone

Technology

TETRA SteelTM

1200

BlueLinxTM

Automated Control System

Produced Water Treatment & Recycling

• Reducing highest operating costs, reduced personnel requirements, through automation of pumps and passing on some of the savings to customers

• Data analytics for market use and predictive maintenance

• TETRA Steel is a premium lay-flat hose and a leader in produced water market• Unique fit for water re-use technology• Exclusive supplier agreement for manufacturing of hose

• Moved ~100 M bbls of produced water in Permian in 2019 and ~40 M bbls in rest of United States • Deploying chemical, multi-stage reverse osmosis, and direct-contact evaporation technologies for

treatment and volume reduction of produced water• Midland automated treatment & recycling facility recently scaled up to 100,000 bbls/day capacity for

a super major oil client



Integrated projects are steadier, have longer duration and higher margins


• In Q4-19 peaked at 28 integrated water management projects, which is our current all time high

• Released new TETRA BlueLinxTM Automated Control System, which provides remote control and monitoring for nearly every aspect of our integrated water management services

• Signed a fixed-term lease contract with a major E&P operator in the Permian Basin for TETRA SandstromTM, for multiple units to displace their current technology

Revenue ($M)

Adjusted EBITDA ($M) and Margins

Adjusted EBITDA and adjusted EBITDA margins are non-GAAP financial measures. See “Non-GAAP Reconciliation” in appendix for more information and reconciliation to net loss(1) Source: Baker Hughes

(2)

$105

$172

$303 282

- 300 600 900 1,200 1,500 1,800 2,100

$0$50

$100$150$200$250$300$350

2016 2017 2018 2019

Revenue US Land Rigcount

4%

12%

21%

13%

0%

5%

10%

15%

20%

25%

$0

$15

$30

$45

$60

$75

2016 2017 2018 2019

Adj. EBITDA Adj. EBITDA Margin


Compression


U.S. Gas Macro – Gathering and Lift

Source: 2020 EIA Annual Energy Report, Jan 2020

Natural gasRenewablesNuclearCoal

Natural gas expands share of future Electricity

Electricity Generation From Selected Fuelsbillion kilowatt-hours

Dry Natural Gas Production By Typetrillion cubic feet

other lower 48 onshorelower 48 offshore

Shale gas to grow another ~20% by 2025

LNG Exports triple in 3 years

>10% growth in shale gas production expected by 2023(1)

(1) 2023 estimate based on EIA’s 2020 annual energy outlook vs 2019 actual

0

10

20

30

40

50

60

2000 2010 2020 2030 2040 2050

2019history projections

0

1,000

2,000

3,000

4,000

5,000

6,000

2010 2020 2030 2040 2050

36%

38%

12%

13%

19%

19%

37%

24%

2019history projections


Evolution of Compression Application

Source: Spears US Compression study for CCLP

• Centralized gas lift is a growing market

• Pad drilling and tighter well spacing making this more practical

• High gas volumes make the effectiveness of Electric Submersible Pumps (ESP) more challenging

• Now an integral part of the production process

• Over 90% of CCLP’s 2018 and 2019 HP additions were for centralized gas lift

• Production dependent assets more likely to remain utilized in a downturn

Gas Lift requirements are growing at a 17% CAGR since 2017


Evolution of Compression Fleet

Total HP by Category

• Investments focused on high HP centralized gas lift• Focused on Permian Basin and South Texas• Pursuing opportunities to sell low HP equipment to

reinvest in high HP fleet

CSI Compressco migrating towards larger HP units

• Deploying of new units at higher prices• Strategically locating units in clusters to reduce labor costs• ERP system has given more visibility in driving down costs

Compression Services Margins

+25%

(6)%

(16)%

35%

37%

39%

41%

43%

45%

47%

49%

51%

53%

2015 2016 2017 2018 2019(1)

(1) Adjusted for $2.1M of non-income tax contingency in 2018-Q4


55%35%

10%

Compression Services Fleet and Growth

Deployed HP & Utilization Trends

• 55% of deployed HP in high HP range• >1,000HP utilization was above ~85% during

the recent extended downturn Currently peaking at 97.9% as of year-end 2019

>1,000 HP101-1,000 HP0-100 HP

Current HP Deployed By Size

98% Utilization71% Utilization

86% Utilization

0-100 HP 101-1000 HP >1,000 HP

70%

75%

80%

85%

90%

95%

100%

750

800

850

900

950

1,000

1,050

1,100

Util

izat

ion

Dep

loye

d H

P

Deployed HP Total Utilization >1,000 HP Utilization


Focused on Most Prolific Producing Basins in the U.S.

Focused on key shale oil plays with customers with strong balance sheets

Permian Basin

West Region

East Region

South Texas

Mid Continent

Northern Rockies

HP Distribution by CCLP Region*

*As of 12/31/2019

Eagle Ford

Marcellus

Utica

Permian & DelawareBarnett Haynesville

Bakken

Niobrara

Monterey

San Juan

Woodford SCOOP/Stack

Operating UnitsBasinsShale Plays

~75%of horsepower located in Permian, Eagle Ford and

SCOOP/STACK

Permian Basin production up ~70% in last 2 years(EIA)


Compression Financial Summary

Well positioned to capitalize on the growing compression marketStrong revenue & Adjusted EBITDA performance on stronger market environmentRevenue ($M)

Adjusted EBITDA ($M)

Adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures. See “Non-GAAP Reconciliation” in appendix for more information and reconciliation to net lossGuidance is based on CSI Compressco press release and not for compression division. There is a variance in Adjusted EBITDA definition for Compression segment and CSI Compressco which is associated with non-cash cost of compressors sold CSI Compressco 2020 guidance as published on February 26, 2020


• Overall fleet utilization was 90.0% at Q4 2019, second highest since acquisition of Compressor Systems, Inc. in 2014 (90.1% highest in Q3 2019)

• Deployed 98,000 new HP in 2019 with ROIC of 20%+ with nearly 90% deployments directed towards centralized gas lift for liquids or single well artificial lift for the growing inventory of late life horizontal wells

• Increased Adjusted EBITDA for the third year in a row; 2019 Adjusted EBITDA increased 29% year-over-year on 9% higher revenues

Mid-point of Guidance

Mid-point of Guidance

$311$296

$439 $477 $445

$0

$100

$200

$300

$400

$500

$600

2016 2017 2018 2019 2020

$90$75

$95

$123$133

$0

$30

$60

$90

$120

$150

2016 2017 2018 2019 2020


Financial Overview


Financial Overview

Driving financial performance through technological improvements and disciplined capital allocation


• Over $400M of revenue and $80M of Adjusted EBITDA growth from 2016 and 120 basis points Adjusted EBITDA margin expansion

• Differentiating through technological and automation improvements, which drive the improvement in margins

• ROIC of ~20%+ on new service compression investments

• As offshore markets continue to recover, we expect to capture the increased fluid demand without incremental capital investments; including additional CS Neptune projects

$ Millions 2016 2017 2018 2019

Revenue $617 $723 $999 $1,038

Adjusted EBITDA $104 $122 $161 $187

Adjusted EBITDA Margin% 16.8% 16.9% 16.1% 18.0%

$ Millions 2018-Q4 2019-Q1 2019-Q2 2019-Q3 2019-Q4

Revenue $282.5 $243.7 $288.8 $245.9 $259.5

Adj. EBITD $46.6 $36.3 $50.1 $46.2 $54.5

Adj. EBITDA Margin % 16.5% 14.9% 17.3% 18.8% 21.0%

Adjusted EBITDA and adjusted EBITDA margin are a non-GAAP financial measure. See “Non-GAAP Reconciliation” in appendix for more information and reconciliation to net loss.


Debt Profile

TETRA Only CSI Compressco Only• No near-term maturities with minimal maintenance

covenants» $296M, 7.25% unsecured notes due Aug 2022 S&P Rating – CCC+, Moody’s Rating – Caa2

» $350M 7.5% senior secured notes due Apr 2025 S&P Rating – B+, Moody’s Rating – B1

• Targeting leverage ratio to improve to 4.5X, or better• Targeting >50% of distributable cash flow for debt

retirement and <50% towards growth capital

• No near-term maturities• TTI asset-based credit agreement and term loan with

minimal maintenance covenants• Flexible asset base to adjust capital spending based on

market conditions• No net borrowing on ABL at year end 2019

Debt Maturity Debt Maturity

ABL Unused Commitment Senior NotesTerm Loan ABL Outstanding

$0

$50

$100

$150

$200

$250

$300

$350

$400

2020 2021 2022 2023 2024 2025 2026

In $

Milli

ons

$0

$50

$100

$150

$200

$250

$300

$350

$400

2020 2021 2022 2023 2024 2025

In $

Milli

ons

No net ABL outstanding as of 12.31.2019

$2.6M of net outstanding ABL as

of 12.31.2019


Investor Presentation

March 2020


AppendixReconciliation Tables


Non-GAAP Financial Measures

This presentation includes non-GAAP financial measures, such as adjusted EBITDA, adjusted EBITDA margin, enterprise value,CCLP net leverage ratio, TETRA only free cash flow from continuing operations, liquidity, consolidated results for TETRA, excludingdiscontinued operations, and debt to Adjusted EBITDA. Adjusted EBITDA and Adjusted EBITDA margin are used as asupplemental financial measures by the management to:

• evaluate the financial performance of assets without regard to financing methods, capital structure or historical cost basis;• determine the ability to service debt and fund capital expenditures.; and• With respect to CSI Compressco LP (“CCLP”), assess the ability to generate available cash sufficient to make distributions

Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization, impairments and certain non-cashcharges and non-recurring adjustments.Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue.Enterprise value is defined as sum of market capitalization, long-term debt and short-term debt.CSI Compressco, LP net leverage ratio is defined as Adjusted EBITDA to comply with Credit Agreement divided by total debt plusoutstanding letters of credit less cash on hand.These non-GAAP financial measures should not be considered an alternative to net income, operating income, cash flows fromoperating activities or any other measure of financial performance presented in accordance with GAAP. These non-GAAP financialmeasures may not be comparable to EBITDA, distributable cash flow or other similarly titled measures of other entities, as otherentities may not calculate these non-GAAP financial measures in the same manner. Management compensates for the limitation ofthese non-GAAP financial measures as an analytical tool by reviewing the comparable GAAP measures, understanding thedifferences between the measures and incorporating this knowledge into management's decision making process. Furthermore,these non-GAAP measures should not be viewed as indicative of the actual amount of cash that is available for distributions orplanned distribution for a given period, nor should they be equated to available cash as defined in CCLP's partnership agreement.


Market Capitalization and Enterprise Values

(thousands, except per share amounts)Market Capitalization: TTI

Market price per share on 02/25/2020 1.33$

Shares outstanding as of 11/06/2019 125,541

Market Capitalization 166,969$

Enterprise Value: TTI

Market capitalization based on 02/25/2020

Stock Price 166,969$

Total debt, excluding CSI Compressco LP

debt, as of 12/31/2019 204,633

Enterprise Value 371,602$

(thousands, except per unit amounts)Market Capitalization: CCLP

Market price per unit on 02/25/2020 1.80$

Units outstanding as of 02/26/2019 47,269

Market Capitalization 85,084$

Enterprise Value: CCLP

Market capitalization based on 02/25/2020

Unit Price 85,084$

Total debt, as of 12/31/2019 638,238

Enterprise Value 723,322$


Non-GAAP Reconciliation

Completion Fluids & Products - Adj. EBITDA and Adj. EBITDA Margin Reconciliation '($ in Mil)2016 2017 2018 2019

Income (Loss) Before Taxes $17.7 $63.9 $30.6 ($34.0)Interest Income/Expense ($0.0) ($0.1) ($0.6) ($0.7)DD&A $18.4 $16.3 $15.3 $13.5 Stock Option expense - - - -Special Items $1.6 ($12.7) $0.1 $91.2

Adjusted EBITDA $37.7 $67.5 $45.4 $70.0

Revenue $205.2 $257.9 $257.4 $279.3

Income (Loss) Before Taxes Margin 9% 25% 12% -12.2%

Adjusted EBITDA Margin 18% 26% 18% 25.1%

Water & Flowback Services - Adj. EBITDA and Adj. EBITDA Margin Reconciliation '($ in Mil)2016 2017 2018 2019

Income (Loss) Before Taxes ($42.8) ($12.8) $28.7 ($21.2)Interest Income/Expense ($0.6) ($0.3) $0.0 ($0.0)DD&A $26.2 $18.1 $28.4 $33.4 Stock Option expense - - - -Special Items $20.9 $15.5 $6.4 $25.6

Adjusted EBITDA $3.7 $20.5 $63.5 $37.9

Revenue $105.1 $171.6 $303.1 $282.0

Income (Loss) Before Taxes Margin -41% -7% 9% -7.5%

Adjusted EBITDA Margin 4% 12% 21% 13.4%



Compression - Adj. EBITDA Reconciliation '($ in Mil)2016 2017 2018 2019

Income (Loss) Before Taxes ($136.3) ($37.2) ($33.8) ($16.0)Interest Income/Expense $37.0 $42.1 $51.9 $52.0 DD&A $72.2 $69.1 $70.5 $76.7 Stock Option expense $3.0 $1.2 $0.6 $1.1 Special Items $112.6 ($1.9) $5.8 $8.8 Omnibus to PIK $1.6 $1.7 - -

Adjusted EBITDA $90.0 $75.0 $95.0 $122.5 Revenue $311.4 $295.6 $438.7 $476.7

TTI Consol. - Continued Operations - Adj. EBITDA and Ad. EBITDA Margin Reconciliation '($ in Mil)2016 2017 2018 2019

Income (Loss) Before Taxes ($223.2) ($44.0) ($36.4) ($144.1)Interest Income/Expense $57.4 $57.2 $70.9 $73.2 DD&A $117.1 $104.1 $114.9 $124.2 Stock Option expense $13.7 $7.7 $7.4 $8.1 Special Items $138.9 ($3.0) $4.1 $125.7

Adjusted EBITDA $103.9 $122.0 $160.9 $187.1 Revenue $617.4 $723.1 $998.8 $1,037.9

Income (Loss) Before Taxes Margin -36% -6% -4% -13.9%

Adjusted EBITDA Margin 16.8% 16.9% 16.1% 18.0%



TTI Continuing Operations - Adj. EBITDA and Adj. EBITDA Margin Reconciliation ($ in Mil)

Q4-18 Q1-19 Q2-19 Q3-19 Q4-19

Income (Loss) Before Taxes $6.1 ($17.1) ($5.7) ($7.5) ($113.8)

Interest Income/Expense $18.7 $18.4 $18.5 $18.1 $18.2

DD&A $30.0 $30.6 $31.8 $30.9 $30.9

Stock Option expense/Omnibus to Equity $1.7 $2.2 $2.3 $1.3 $1.9

Special items ($10.0) $2.2 $3.2 $3.3 $117.4

Adjusted EBITDA $46.6 $36.3 $50.1 $46.2 $54.5

Revenue $282.5 $243.7 $288.8 $245.9 $259.5

Income (Loss) Before Taxes Margin 2.2% -7.0% -2.0% -3.0% -43.9%

Adjusted EBITDA Margin 16.5% 14.9% 17.3% 18.8% 21.0%



CSI Compressco - Adjusted EBITDA Reconciliation (In $ Millions)

2020 (Low) 2020(High) 2020(Mid-Point)

Net Loss $ (28.5) $ (20.7) $ (24.6)Interest expense, net 52.0 53.0 52.5 Provision of income taxes 4.0 6.0 5.0 Depreciation & amortization 90.0 92.0 91.0 Non-cash cost of compressors sold 6.0 8.0 7.0 Equity Compensation 1.5 1.7 1.6

Adjusted EBITDA $125.0 $140.0 $132.5

Revenue $430.0 $460.0 $445.0



CSI Compressco - Net Leverage Reconciliation (In $ Millions)12/31/19 12/31/18 6/30/18

Net Loss $ (21.0) $ (37.0) $ (43.8)Interest expense, net 53.4 52.6 47.6 Provision of income taxes 3.4 2.6 3.5 Depreciation & amortization 76.7 70.5 69.5

Impairments & other charges 3.3 0.7 - Bad debt expense 1.8 - -

Non-cash cost of compressors sold 6.0 4.1 5.3 Equity compensation 1.1 0.6 (0.8)Series A Preferred redemption premium 1.5 - - Series A Preferred fair value adjustments 1.5 (0.8) 1.2 Severance and others 0.7 0.2 0.0 Software implementation - - 0.8 Non-income tax contingency - 2.1 - Expense for unamortized finance costs - 3.5 3.5

Adjusted EBITDA $128.3 $99.2 $86.8EBITDA Adjustments to comply with Credit Agreement 0.3 1.2 (1.7)

Adjusted EBITDA For Net leverage Calculation $128.5 $100.4 $85.17.25% Senior Notes 295.9 295.9 295.9 7.50% Senior Secured Notes 350.0 350.0 350.0 Asset Based Loan 3.5 - - Letters of Credit 3.5 2.9 4.1 Cash on Hand (2.4) (15.9) (55.6)

Net Debt $650.5 $632.9 $594.4Net Leverage Ratio(Net Debt/Adjusted EBITDA for Net Leverage Calculation) 5.1x 6.3x 7.0x

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