Exhibit 99.1

DRIL-QUIP, INC. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 RESULTS

Annual revenue increases double digits year-over-year

Full year cash provided by operations increases $44.5 million year-over-year

Company provides fiscal 2024 financial outlook

HOUSTON, February 26, 2024 — Dril-Quip, Inc. (NYSE: DRQ), (the “Company” or “Dril-Quip”), a developer, manufacturer and provider of highly engineered equipment, service, and innovative technologies for use in the energy industry, today reported operational and financial results for the fourth quarter and full year 2023.

Fourth Quarter Highlights

Full Year Highlights

“Strong performance in the fourth-quarter was great way to close out 2023 for Dril-Quip with double-digit growth in both annual revenue and adjusted EBITDA, showcasing significant progress toward our longer-term financial, operational, and strategic objectives," said Jeff Bird, Dril-Quip’s President and Chief Executive Officer. “Bookings in the fourth quarter came in at $123 million driven by securing a subsea production system tender for approximately $40 million in Australia. Further, we signed 11 new MSAs this year, setting the stage for continued stable top-line growth.”

“With improved reporting lines, leaner operations, and quicker delivery times for our customers, we are well positioned to capitalize on the ongoing offshore upcycle and drive future margins meaningfully higher. Our strong balance sheet and financial flexibility allow us to continue to evaluate both organic and inorganic growth opportunities to capture incremental market share and ultimately drive sustained, profitable growth for our shareholders.”

2024 Financial Outlook

In conjunction with today’s release, the Company posted a new investor presentation entitled “2024 Investor Presentation” to its website, www.dril-quip.com, on the “Events & Presentations” page under the Investors tab. Investors should note that Dril-Quip announces material financial information in Securities and Exchange Commission (“SEC”) filings, press releases and public conference calls. Dril-Quip may use the Investors section of its website (www.dril-quip.com) to communicate with investors. It is possible that the financial and other information posted there could be deemed to be material information. Information on Dril-Quip’s website is not part of this release.

Operational and Financial Results

Revenue, Cost of Sales and Gross Operating Margin

Consolidated revenue for the fourth quarter of 2023 was $126.3 million, up $9.1 million from the third quarter of 2023 and up $29.5 million compared to the fourth quarter of 2022. The increase in revenue was primarily driven by the rebound of Subsea Services activity and the first full quarter of Great North post-acquisition, which contributed $19.7 million in the quarter.

For the full year 2023, revenue was $424.1 million, up $62.1 million from the full year of 2022. Well Construction revenues increased $51.3 million year-over-year, primarily driven by the acquisition of Great North as well as large-bore liner hanger growth in offshore Brazil, Mexico, and West Africa. Subsea Services segment revenue increased 7% year-over-year to $101.3 million, and Subsea Products segment revenue increased 2% compared to the prior year to $198.3 million.

Cost of sales for the fourth quarter of 2023 was $91.7 million, an increase of $6.1 million sequentially and $25.1 million year-over year. Gross operating margin for the fourth quarter of 2023 was 27.4%, up from 27.0% for the third quarter of 2023 and down from 31.2% year-over-year. Gross margins decreased year-over-year, driven by unfavorable product line mix within Subsea Products and some international start-up costs in our Well Construction segment.

Cost of sales for the full year of 2023 was $308.5 million, an increase of $42.6M from the full year 2022. Gross margin for the full year 2023 was 27.3% compared to a gross margin of 26.5% for the full year 2022. The increase in gross margin year-over-year can be attributed to favorable product line mix and the impact of productivity initiatives.

Selling, General, Administrative, and Engineering Expenses

Selling, general and administrative (“SG&A”) expenses for the fourth quarter of 2023 were $29.8 million, an increase of $2.8 million compared to the third quarter of 2023 and an increase of $2.9 million year-over-year. SG&A expenses for the full year 2023 were $101.5 million, an increase of $7.3M compared to the full year 2022. SG&A increased sequentially and year-over-year primarily due the addition of Great North expenses and severance.

Engineering and product development expenses were $3.0 million for the fourth quarter of 2023, a decrease of $0.1 million from the third quarter of 2023. Engineering and product development expense of $12.6 million for the full year of 2023 increased $0.9M compared to the full year 2022. The year-over-year increase is attributed to increased testing and qualifications related to specific international customer requirements.

Net Income, Adjusted EBITDA and Free Cash Flow

For the fourth quarter of 2023, the Company reported net income of $1.8 million, or $0.05 per share. This compares to net loss of $7.0 million, or $0.21 per share, for the third quarter of 2023 and a net loss of $0.3 million, or $0.01 per share, in the prior year period. For the full year of 2023, the Company reported a net income of $0.6 million, or $0.02 per share, compared to a net loss of $1.6 million, or $0.05 loss per share, for the full year of 2022.

Adjusted EBITDA totaled $16.5 million for the fourth quarter of 2023, an increase of $4.2 million sequentially, and $6.3 million from one year ago. For the full year of 2023, adjusted EBITDA was $46.5 million, an increase of 56% year-over-year. The increase in adjusted EBITDA year-over-year can be attributed to leverage on incremental revenues and the acquisition of Great North in the third quarter of 2023.

Cash provided by operations was $26.1 million for the fourth quarter of 2023, an increase of $2.9 million sequentially and $43.7 million compared to fourth quarter of 2022. Free cash flow was $14.5 million for the fourth quarter of 2023, an improvement of $37.3 million year-over-year, and a decrease of $3.3 million sequentially.

Cash provided by operations was $7.7 million, and free cash flow was a negative $24.9 million for the full year of 2023. The cash provided by operations increased $44.5 million compared to the full year of 2022. The increase was driven by receipt of U.S. tax refunds and improvements in our cash conversion cycle. Capital expenditures in the fourth quarter of 2023 were $11.6 million and $32.6 million for the full year of 2023, the majority of which were related to investments in manufacturing equipment and rental tools bound for work already secured.

Net proceeds from sale of property, plant and equipment was $23 million in the fiscal year 2023, primarily related to the sale of our aftermarket and administration buildings.

Share Repurchases

During 2023, the Company did not make any share repurchases. The Company has approximately $103 million remaining of the current authorization by the Board of Directors. The Company continues to evaluate the amount and timing of its share repurchases as part of its overall capital allocation strategy.

Conference Call and Webcast

Management will host a conference call and a webcast to discuss the financial results on February 27, 2024, at 10:00 a.m. Eastern Daylight Time / 9:00 a.m. Central Daylight Time. The presentation is open to all interested parties and may include forward-looking information.

To access the call, please dial in approximately ten minutes before the start of the call.

Conference Call and Webcast Details

For those unable to participate in the live call, an audio replay will be available following the call through midnight Tuesday, March 12, 2024. To access the replay, please call 877-481-4010 or 919-882-2331 (International) and enter replay passcode 49907. A replay of the webcast will also be archived shortly after the call and can be accessed on the Company's website.

About Dril-Quip

Dril-Quip is a developer, manufacturer and provider of highly engineered equipment, service and innovative technologies for use in the energy industry.

Forward-Looking Statements

Statements contained herein relating to future operations and financial results that are forward-looking statements, including those related to market conditions, benefits of the recently completed Acquisition, anticipated project bookings, expected timing of completing strategic restructuring, anticipated timing of delivery of new orders, anticipated revenues, costs, cost synergies and savings, possible acquisitions, new product offerings and related revenues, share repurchases and expectations regarding operating results, are based upon certain assumptions and analyses made by the management of the Company in light of its experience and perception of historical trends, current conditions, expected future developments and other factors. These statements are subject to risks beyond the Company’s control, including, but not limited to, the impact of actions taken by the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC nations to adjust their production levels, the impact of actions taken by the OPEC and non-OPEC nations to adjust their production levels, risks related to the recently completed acquisition, including the risk that the benefits of the acquisition may not be fully realized or may take longer to realize than expected, that we will fail to successfully integrate the properties and assets into our business and that management attention will be diverted to integration-related issues, the impact of general economic conditions, including inflation, on economic activity and on our operations, the general volatility of oil and natural gas prices and cyclicality of the oil and gas industry, declines in investor and lender sentiment with respect to, and new capital investments in, the oil and gas industry, project terminations, suspensions or scope adjustments to contracts, uncertainties regarding the effects of new governmental regulations, the Company’s international operations, operating risks, the impact of our customers and the global energy sector shifting some of their asset allocation from fossil-fuel production to renewable energy resources, and other factors detailed in the Company’s public filings with the SEC. Investors are cautioned that any such statements are not guarantees of future performance and actual outcomes may vary materially from those indicated.

Non-GAAP Financial Information

Adjusted Net Income (Loss), Adjusted Diluted EPS, Free Cash Flow and Adjusted EBITDA are non-GAAP measures.

Adjusted Net Income (Loss) and Adjusted Diluted EPS are defined as net income (loss) and earnings per share, respectively, excluding the impact of foreign currency gains or losses as well as other significant non-cash items and certain charges and credits.

Free Cash Flow is defined as net cash provided by operating activities less cash used in the purchase of property, plant and equipment.

Adjusted EBITDA is defined as net income excluding income taxes, interest income and expense, depreciation and amortization expense, stock-based compensation, non-cash gains or losses from foreign currency exchange rate changes as well as other significant non-cash items and other adjustments for certain charges and credits.

The Company believes that these non-GAAP measures enable it to evaluate and compare more effectively the results of our operations period over period and identify operating trends by removing the effect of its capital structure from its operating structure. In addition, the Company believes that these measures are supplemental measurement tools used by analysts and investors to help evaluate overall operating performance, ability to pursue and service possible debt opportunities and make future capital expenditures. Adjusted Net Income (Loss), Adjusted EBITDA and Free Cash Flow do not represent funds available for our discretionary use and are not intended to represent or to be used as a substitute for net income or net cash provided by operating activities, as measured under U.S. generally accepted accounting principles (“GAAP”).

See “Unaudited Non-GAAP Financial Measures” below for additional information concerning non-GAAP financial information, including a reconciliation of the non-GAAP financial information presented in this press release to the most directly comparable financial information presented in accordance with GAAP. Non-GAAP financial information supplements and should be read together with, and is not an alternative or substitute for, the Company’s financial results reported in accordance with GAAP. Because non-GAAP financial information is not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures.

Investor Relations Contact

Erin Fazio, Director of Corporate Finance

Erin_Fazio@dril-quip.com

Dril-Quip, Inc.

Comparative Condensed Consolidated Income Statement

(Unaudited)

Dril-Quip, Inc.

Comparative Condensed Consolidated Balance Sheets

(Unaudited)

Dril-Quip, Inc.

Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow

(Unaudited)

Dril-Quip, Inc.

Reconciliation of Net Income (Loss) to Adjusted EBITDA

(Unaudited)

Dril-Quip, Inc.

Reconciliation of Net Income (Loss) to Adjusted Net Income (Loss) and Diluted Earnings (Loss) per Share to Adjusted Diluted Earnings (Loss) per Share

(Unaudited)

Investor Presentation Fourth Quarter 2023

Disclaimer | Cautionary Statement Forward-Looking Statements The information furnished in this presentation contains “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, the impact of actions taken by the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC nations to adjust their production levels, the impact of the COVID-19 pandemic and the effects thereof, the general volatility of oil and natural gas prices and cyclicality of the oil and gas industry, declines in investor and lender sentiment with respect to, and new capital investments in, the oil and gas industry, project terminations, suspensions or scope adjustments to contracts, uncertainties regarding the effects of new governmental regulations, the Company’s international operations, operating risks, the impact of our customers and the global energy sector shifting some of their asset allocation from fossil-fuel production to renewable energy resources, goals, projections, estimates, expectations, market outlook, forecasts, plans and objectives, including revenue and new product revenue, capital expenditures and other projections, project bookings, bidding and service activity, acquisition opportunities, forecasted supply and demand, forecasted drilling activity and subsea investment, liquidity, cost savings, and share repurchases and are based on assumptions, estimates and risk analysis made by management of Dril-Quip, Inc. (“Dril-Quip”) in light of its experience and perception of historical trends, current conditions, expected future developments and other factors. No assurance can be given that actual future results will not differ materially from those contained in the forward-looking statements in this presentation. Although Dril-Quip believes that all such statements contained in this presentation are based on reasonable assumptions, there are numerous variables of an unpredictable nature or outside of Dril-Quip’s control that could affect Dril-Quip’s future results and the value of its shares. Each investor must assess and bear the risk of uncertainty inherent in the forward-looking statements contained in this presentation. Please refer to Dril-Quip’s filings with the Securities and Exchange Commission (“SEC”) for additional discussion of risks and uncertainties that may affect Dril-Quip’s actual future results. Dril-Quip undertakes no obligation to update the forward-looking statements contained herein. Use of Non-GAAP Financial Measures Adjusted Net Income, Adjusted Diluted EPS, Adjusted EBITDA and Free Cash Flow are non-GAAP measures. Adjusted Net Income and Adjusted Diluted EPS are defined as net income (loss) and earnings per share, respectively, excluding the impact of foreign currency gains or losses as well as other significant non-cash items and certain charges and credits. Adjusted EBITDA is defined as net income excluding income taxes, interest income and expense, depreciation and amortization expense, stock-based compensation, non-cash gains or losses from foreign currency exchange rate changes as well as other significant non-cash items and items that can be considered non-recurring. Free Cash Flow is defined as cash provided by operating activities less cash used in the purchase of property, plant and equipment. We believe that these non-GAAP measures enable us to evaluate and compare more effectively the results of our operations period over period and identify operating trends by removing the effect of our capital structure from our operating structure and certain other items including those that affect the comparability of operating results. In addition, we believe that these measures are supplemental measurement tools used by analysts and investors to help evaluate overall operating performance, ability to pursue and service possible debt opportunities and make future capital expenditures.  These measures do not represent funds available for our discretionary use and are not intended to represent or to be used as a substitute for net income or net cash provided by operating activities, as measured under U.S. generally accepted accounting principles (“GAAP”).  Non-GAAP financial information supplements should be read together with, and is not an alternative or substitute for, our financial results reported in accordance with GAAP. Because non-GAAP financial information is not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measure can be found in the appendix. Use of Website Investors should note that Dril-Quip announces material financial information in SEC filings, press releases and public conference calls. Dril-Quip may use the Investors section of its website (wwwˌdril-quipˌcom) to communicate with investors. It is possible that the financial and other information posted there could be deemed to be material information. Information on Dril-Quip’s website is not part of this presentation.

About Us

Who We Are | Dril-Quip Overview Dril-Quip, Inc. is a leading developer of innovative technologies for the energy industry, designing and manufacturing best-in-class products for traditional oil and gas, and certain energy transition applications. North America Europe/Middle East Asia Pacific Latin America Subsea Products Subsea Services Well Construction Notes: 1As of 02/20/2024 On July 31st, 2023, Dril-Quip acquired Great North, which contributed $35 million in North America revenue for the year. Full-year pro forma revenue for 2023 is $90 million. $746 Million Market Cap1 Houston, TX Headquarters $424.1 Million 2023 Revenue NYSE since 1997 DRQ Operations 19 Countries Global Employees 1,731

Our History| Dril-Quip Over the Years 1980s 1990s 2000s 2010s 2020s 1981 Dril-Quip is founded 1986 15,000 psi Subsea Wellhead Systems Introduced 1990 Singapore manufacturing facility opens 1990 1st Subsea completion delivered 2021 Announces collaboration agreement with OneSubsea 2021 Launches ESG platform 2022JANUARY Jeff Bird and Kyle McClure become CEO & CFO, respectively FEBRUARY“Operational Excellence” program begins – streamlining leadership, operations, and optimizing company footprint Announced CCUS collaboration agreement with Aker Solutions JUNEAnnounced decarbonization targets 1997 Dril-Quip goes public (NYSE: DRQ) 2016 Dril-Quip acquires TIW 1983 First international manufacturing facility opens (Scotland) 2009 20,000 psi Subsea Wellhead Systems introduced 2000 Brazil Manufacturing facility established 2023 Dril-Quip acquires Great North Wellhead

Investment Thesis | Why Dril-Quip Dril-Quip provides a balanced investment proposition to growth and value investors, supported by a long history of commanding premium valuation. Leader in Design & Manufacturing Footprint in Key Offshore Drilling Markets Organizational Alignment Strong Financial Profile Attractive Balance Sheet Manufacturer of highly engineered drilling & production equipment Competing in attractive long-term growth markets Small, self-contained teams that share a common strategy and control of own destiny Continued progression on key organic initiatives that will drive profitable growth One of very few oilfield service companies with balance sheet optionality

Operations | Global Footprint Dril-Quip is well positionedto serve the needs of theglobal energy industry with major manufacturingfacilities in the UnitedStates (Texas), Canada, Scotland, Brazil and Singapore; and service facilities in Australia, Ecuador, Mexico, Norway, China, Egypt, Saudi Arabia Ghana, and Qatar. Engineering, Manufacturing, Sales & Service Sales and/or Service Sales Representatives Center of Excellenceand World Headquarters Houston, Texas Center of Excellence Aberdeen, Scotland Center of Excellence Singapore Center of Excellence Macaé, Brazil Great North, Center of Excellence Edmonton, Alberta

Customers | Extensive Customer Portfolio Our products are used by major integrated, independent, and foreign national energy companies throughout the world, and we are known for solving customers’ most challenging problems with equipment that performs reliably, safely, and cost-effectively in deepwater, harsh environments, and severe service applications.

Macro Environment | Market & Outlook Offshore project FIDs are projected to increase substantially from 2023 levels Economic breakeven of current projects well below current spot and future prices; small percentage of projects requiring $60/Bbl pricing or higher Trans Mountain expansion will significantly increase Canada’s oil export capacity Offshore spending expected to outpace onshore, let by deepwater projects in Brazil and West Africa, as well as shallow water projects in Qatar, Norway and Saudi Arabia Energy security spurring investment, projects, partnerships, and increased offshore exploration Focus on decarbonization supporting R&D and ongoing investment across the space Notes: 1Rystad Energy

Macro Environment | Growth in Offshore Drilling Demand Dril-Quip is well positioned to capitalize on a constructive offshore market with strong growth trends in Brazil, the Middle East, Latin America, and in reemerging markets such as West Africa. 2023 Revenue $424 Million 17% Growth North America Represented 38% of total revenue for FY 2023 Activity in Canada increasing due to Great North acquisition Asia-Pacific Represented 16% of total revenue for FY 2023 Upswing in activity in the regions expected to drive demand for subsea products and well construction Europe/Middle East Represented 26% of total revenue for FY 2023 Long-term CCUS potential through our partnership with Aker Solutions Activity in Norway is seeing an uptick in demand due to energy security concerns Latin America Represented 20% of total revenue for FY 2023 Strong growth in Brazil from Petrobras, which plans to invest $78 billion between 2023 – 2027 with plans to drill ~350 wells Guyana and Suriname in the early stages of development for DRQ with follow on orders expected in 2024 and beyond

Our Strategy | What Makes Dril-Quip Different Highly engineered, innovative solutions designed to withstand the harshest environments, saving customers time and money Award-winning drilling and production products and services are utilized to provide total solutions for field developments Long operating history and a clean balance sheet with zero debt provides strong financial stability Total Solutions Engineering & Innovation Financial Stability

Commercial Excellence| Growth Update 2024 2025 & Beyond Brazil Growth – Subsea Wellheads & Liner Hangers Latin America Expansion – Great North Wellheads Saudi Arabia Growth – Liner Hangers & Great North Wellheads 1 3 4 Focusing on core growth markets globally. 2 Deepwater Growth Liner Hangers

Operational Excellence Initiatives | Progress Update Footprint & Business Unit Restructuring $5 million expected annual savings Wellhead Manufacturing Investment $10 million expected annual savings Targeting >20% Adjusted EBITDA Margin Best Cost Region Supply Chain $10 million - $15 million expected annual savings Targeting >10% Adjusted EBITDA Margin Targeting 15%-18% Adjusted EBITDA Margin Driving organizational culture of continuous productivity improvement. 2024 2025 & Beyond

Strategic Operating Products & Services

Business supported by Dril-Quip’s expansion into high-growth decarbonization opportunities in our Energy Transition offering longer term. Our Business | Strategic Operating Product & Services Dril-Quip strategically streamlined operations and leadership, driving towards more focused and integrated product and service lines. Subsea Products Subsea Services Well Construction Market leader in subsea wellhead equipment and technology, manufacturing highly engineered, field-proven products with wide array of deepwater drilling equipment and technology that meets the requirements for harsh subsea environments Provider of aftermarket support and technical services with field technicians that support the full lifecycle management of regulatory and industry standards, as well as offering client's comprehensive product training programs Drilling, completions and productions solutions provider for onshore and offshore markets, supplying consumable and rental well construction products for the global energy market and offering highly experienced personnel with extensive operational knowledge and engineering expertise

Robust Product Offering | Equipment Wide range of innovative products serving the energy industry, even in the harshest environments.

PRODUCTS & SERVICES EXPOSURE PRIMARY MARKETS SUBSEA PRODUCTS Subsea Wellheads Specialty Connectors & Associated Pipes Subsea Production Systems Mudline Hanger Systems Production Riser Systems Dry Tree Systems Subsea Manifolds U.S. Gulf of Mexico, Mexico, Brazil, Trinidad & Tobago United Kingdom, Norway Saudi Arabia, Ghana China, Indonesia, Australia WELL CONSTRUCTION Liner Hangers & Expandable Liner Systems Multi-frac Well Connectors Conventional Wellhead Thermal Wellhead Specialty Well Construction Completion Packers Safety & Kelly Valves Rental & Service Canada Deepwater Gulf of Mexico Latin America Brazil Ecuador Mexico Saudi Arabia Namibia SUBSEA SERVICES Technical Advisor Assistance Leasing of Subsea Equipment Reconditioning Storage & Maintenance Rental Tools U.S. Gulf of Mexico, Mexico, Brazil, Trinidad & Tobago United Kingdom, Norway Saudi Arabia, Ghana China, Indonesia, Australia Our Business | Portfolio Positioned for Both On- & Off-shore

Wellheads Field-proven wellhead system specially designed to meet the many challenges of working in shallow or deep-water environments and shallow or ultra-deep well applications Connectors & Surface Equipment Specialty connector suite of products that meet the varying casing challenges faced across well applications Solutions focused surface and capital drilling equipment that offer thee appropriate balance of technology and economy Subsea Production Systems Innovative drilling and production products providing comprehensive field development solutions Production Trees, Manifolds, Connection & Control Systems, Production PLEM’s, PLET’s, Flowline Jumpers Initiatives & Accolades 673 patents Tier 1 wellhead provider Executing collaboration agreements Targeting shallow water and CCUS opportunities through SBTe offering Our Business | Subsea Products Profile Manufacturer of highly engineered, field-proven products with a wide array of deepwater drilling equipment and technology that meet the requirements for harsh subsea environments.

Aftermarket Capabilities Partners with customers throughout the lifecycle including full installation, strip-down, inspection, testing, assembly capabilities In-house machining capabilities for manufacturing and repairing from the smallest components to full subsea tree blocks Comprehensive engineering, project, and back-office support functions for seamless and continuous customer support Ability to serve customers and projects in the harshest environments Initiatives & Accolades Highly reactive support for equipment installation Global network of trained technicians and specialized tooling Dedicated facilities for refurbishment and rework Our Business | Subsea Services Profile Provider of high-level aftermarket support and technical services with field technicians that support the full installation and lifecycle management of regulatory and industry standards, as well as offer industry training programs.

Expandable Liner Hangers – XPakTM & Big Bore XPak De® Features innovative liner top anchor/sealing device, providing unmatched reliability Robust system suitable for HTHP and challenging applications Established technology with limited competitors Conventional & Thermal Wellhead Products Technical, engineered-to-order wellheads used in heavy oil and thermal production locations Rental Completion Solutions Multi-Well Frac ConnectorTM Missile Frac Solution Dart & Frac Ball Launchers Casing Hardware & Well Services Providing accessories to liner hanger operations & long-string cementing Well intervention and slot recovery Tubular Running Services Initiatives & Accolades 388 patents Gaining share in key markets (Brazil, Canada, Namibia, US, Mexico) Converting from conventional to expandable liner hangers Focus on expanding presence in Saudi Arabia Integrating Great North into portfolio and expanding reach internationally Our Business | Well Construction Profile Well Construction provides solutions for onshore and offshore markets, supplying consumable and rental products for the global energy market and offering highly experienced personnel with extensive expertise. *Splits inclusive of Great North Wellhead 2023 Proforma Impact 10% 90%

Energy Transition | Long-Term Opportunity Helping our customers adapt and transition to a new energy mix, while positioning DRQ to support these long-term, robust opportunities. Carbon conscious project execution Measurement of carbon footprint reduction per project Carbon footprint decision metric incorporated across operations Next generation Power of e™ incorporating Green by DesignTM innovation philosophy Solutions for carbon capture and storage projects Existing track record with early mover projects Ability to support onshore, offshore and subsea segments Evaluating adjacent needs to derive additional value Geothermal Solutions Geothermal sector is set for rapid growth, driven by need for renewable base-load energy sources Market share leader in the thermal wellhead market in Canada Early project sales from Dril-Quip connector products eVolving industry Less steel/materials Less transportation Efficient operations Effective manufacturing Increased competitiveness Lower carbon footprint

ESG | Our Commitment to Responsible Growth At Dril-Quip, we believe technological innovation is key to improving energy efficiency and providing people around the world with universal access to reliable, affordable, clean energy. By doing so, we seek to stimulate economic growth and enhance the standard of living for all, improving health and creating employment opportunities globally. With an “A” rating from MSCI ESG, Dril-Quip’s approach to developing products that align with our commitment to UN Sustainable Development Goals (SDGs) is straightforward: We continuously engage with customers to understand their strategic priorities around energy efficiency and carbon emission reduction. We invest heavily in R&D as innovation has been central to technologies we have been bringing to the marketplace since 1981 and incorporate the evaluation of climate change risks and opportunities in our R&D processes. We innovate based on customer feedback and continuously improve our product portfolio. We empower customers to minimize health and safety risks while reducing their carbon footprint. We support our local communities by fostering the availability of clean, affordable energy to all. For more information on Dril-Quip’s commitment to responsible growth, please see our CSR report by visiting HERE.

Financial Performance

Recent Highlights | Fourth Quarter & Full Year 2023 Ongoing upcycle in the offshore market continues to create strong demand. Secured major subsea production system in Australia for approximately $40 million Awarded 3-year deepwater subsea wellhead contract by CNOOC Awarded Hibernia / Exxon Canada diverter systems which provide an application for pressure balanced drilling Completed 3 Canadian CCUS appraisal wells Closed on the sale of a third Houston property completing the current footprint optimization initiative Early Great North international wins in Morrocco Won a multi-well, multi-year contract to supply Subsea Wellhead Systems in Mexico Fourth Quarter Full Year Q4 Revenue $126.3 Million +31% YoY 2023 Revenue $424.1 Million +17% YoY Q4 Net Income $1.8 Million +$2.1 Million YoY 2023 Net Income $0.6 Million +$2.2 Million YoY Q4 Adjusted EBITDA $16.5 Million +$6.3 Million YoY 2023 Adjusted EBITDA $46.5 Million +$16.7 Million YoY Q4 Bookings $122.7 Million +25% YoY 2023 Bookings $295.4 Million +9% YoY Q4 Gross Margin 27.4% -381 BPs YoY 2023 Gross Margin 27.3% +73 BPs YoY

Financial Results| Operating Segment Update New operating segments effective in 2023 provide better visibility into Dril-Quip’s business and align financial reporting with the Company’s internal operating structure. Subsea Products 2% YoY growth Includes: Subsea Wellheads, Specialty Connectors & Associated Pipes, Subsea Production Systems, Mudline Hanger Systems, Production Riser Systems, Dry Tree Systems, and Subsea Manifolds Well Construction 70% YoY growth Includes: Liner Hangers & Expandable Liner Systems, Onshore Wellheads, Specialty Downhole Tools, Safety & Kelly Valves, and Rental & Service Subsea Services 7% YoY growth Includes: Technical Advisor Assistance, Leasing of Subsea Equipment, Reconditioning, Storage & Maintenance, and Rental Tools 2023 Revenue $424.1 Million +17% YoY Growth Note: On July 31st, 2023, Dril-Quip acquired Great North, which contributed $35 million in Well Construction revenue for the year. Full-year pro forma revenue for 2023 is $90 million.

Financial Results | Quarterly and Full Year Quarter (USD$ millions) Full Year (USD$ millions) Note: Sum of components may not foot due to rounding. Adjusted EBITDA is a non-GAAP measure. See appendix for reconciliation to GAAP measure. Revenue Adj. EBITDA +8% +17% +34% +56%

Statistical Results | Backlog, Bookings, MSAs Backlog for Q4’23 increased 26% compared to Q3’23 and increased by 15% year-over-year Dril-Quip currently has ~70 open MSAs, signing 11 new MSAs within 2023 Subsea Products book-to-bill ratio of 2.1x for the fourth quarter of 2023 Beginning Q1 2024, disclosed metrics will change to report Subsea Product bookings only and add regular disclosures regarding master service agreements to reflect the evolving procurement strategies of the energy industry Historical Backlog Trends (USD$ millions) Historical Booking Trends (USD$ millions) +9% +164% +9% +19%

Balance Sheet | Providing Ample Flexibility Strong balance sheet with ample liquidity and zero debt provides flexibility to support our growth strategy. DEBT $217.3 Million CASH, CASH EQUIVALENTS & INVESTMENTS1 1: As of December 31, 2023

Capital Allocation | Priorities for Delivering ROI Demonstrating financial discipline in the pursuit of high-return opportunities that support long-term growth, while preserving our balance sheet strength and financial flexibility. High Return Organic Investments Disciplined M&A Preserve Financial Flexibility Shareholder Returns Prioritize investment into high ROI projects Support organic growth initiatives Manufacturing, R&D, etc. Technology bolt-ons to enhance existing business Deals of scale that align with selective M&A criteria Diversifying end-market exposure with energy adjacent opportunities Working capital to support operations growth Free cash flow generation focused Continue to maintain strong balance sheet Focused on delivering sustainable, long-term growth Return cash to shareholders as appropriate 1 2 3 4

M&A | Disciplined Framework Primary considerations for disciplined M&A STRATEGIC CRITERIA FINANCIAL CRITERIA ACQUISITION TARGETS Increases scale of operations Expanded geographic footprint Aligns with DRQ core competencies Above average long-term growth projections Capable of delivering consistently high margins High return on capital Technology bolt-ons to enhance existing business Deals of scale that align with selective M&A criteria Diversifying end-market exposure with energy adjacent opportunities

2024 Outlook | Profitable Growth Annual Revenue +15%-20% Subsea Bookings $200M-$225M Adjusted EBITDA $70M-$80M Free Cash Flow Positive Q1 expected to see a sequential decline due to seasonality

Appendix dril-quip.com | NYSE: DRQ

Management | Result Driven Management Team Jeffrey J. Bird President and Chief Executive Officer Kyle F. McClure Vice President and Chief Financial Officer Stephen J. Chauffe Vice President — Well Construction John Mossop Vice President – Technology and Energy Transition Mahesh R. Puducheri Vice President — Chief Human Resources Officer Hal Zimmermann Vice President — Business Systems Don M. Underwood Vice President — Subsea Products James C. Webster Vice President, General Counsel and Secretary Bruce Witwer Vice President — Subsea Services

Financial Statements | Income Statement

Financial Statements | Balance Sheet

Financial Statements | Non-GAAP Financial Measures

Financial Statements | Non-GAAP Financial Measures

Financial Statements | Non-GAAP Financial Measures

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