Ethics 

Our Code of Ethics

Upholding honesty and integrity at every level is critical to our success. We each have a responsibility to act professionally, understand the Company Code of Business Conduct and Ethics, policies and applicable laws, promptly report concerns and share Patterson- UTI’s commitment of mutual respect by demonstrating courtesy and civility.

Through our Vendor Guidelines, we also set forth expectations of our vendors, suppliers and their subcontractors, and these guidelines are intended to complement our Code of Business Conduct and Ethics. Our related formal policies include and all are available on our website:

• Global Anticorruption Policy
• Gifts and Entertainment for Government Officials
• International Due Diligence
• Prohibition on Corruption
• Antitrust Compliance
• Conflicts of Interest, Including Gifts and Entertainment
• Vendor Guidelines

Antibribery Training

Our anticorruption training program includes antibribery training for all employees with responsibilities that include finance, accounting, keeping of Patterson-UTI books and records, international markets and international travel. All employees with international responsibilities acting on Patterson-UTI’s behalf or interacting with government officials on a regular basis or those with significant managerial responsibilities, participate in more specific antibribery training at least annually.

The Company’s Anticorruption Policy is available on its external website. Less than 0.16% of our consolidated worldwide 2024 revenue was generated from the countries identified by Transparency International as having the 20 lowest rankings in its 2024 Corruption Perception Index.

We encourage employees to report a concern or ask a question through a supervisor, manager, HR representative or the anonymous SHARP Hotline and to speak up if they think something is wrong. Our anonymous SHARP Hotline is administered by a third party. We view the SHARP Hotline as a key risk management tool for the Company, as the anonymous reporting provided by this hotline helps to ensure that employee concerns are investigated and addressed as promptly as possible.

SHARP: Secure Hotline For Asking and Reporting at Patterson-UTI

The SHARP Hotline is available 24/7, online or by phone, for employees and others to report concerns, anonymously if preferred. Please see our SHARP page for more information about our secure reporting hotline.

Political Contributions

We have a policy prohibiting the contribution of Company funds to political parties or organizations or to candidates for any public office or to influence the general public, or segments thereof, with respect to public elections or referenda.

Industry Initiatives

We participate in certain trade organizations, such as the IADC and the EWTC, with purposes that include enhancement of the public image of and continued education about the industry, collaboration on issues that affect the industry and the development of industry best practices and standards, as well as development of industry talent. We have also held leadership positions within the IADC and the EWTC.

We are a member of various subcommittees of both organizations which regularly meet to discuss practices in the contract drilling, completion services and other related industries. Many of the trade organizations also engage in legislative or political activity related to matters that affect the industry as a whole and not a specific company. We, as one of many members in various trade associations, do not direct the legislative activities of any trade organization of which we are a member.