Financial Analysis

3. ACQUISITIONS AND DIVESTITURES We had no significant business acquisitions or divestitures during the three and six months ended June 30, 2026 and 2025 .

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8. COMMITMENTS AND CONTINGENCIES We have been and may, from time to time, be named as a defendant in legal actions that arise in the ordinary course of business. These include, but are not limited to, employment-related claims and contractual disputes or claims for personal injury or property damage which occur in connection with the provision of our services and products. A liability is accrued when a loss is both probable and can be reasonably estimated. See Note 6 - Long-term Debt, net for amounts committed under letters of credit and performance guarantees and bonds.

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11. FINANCIAL INSTRUMENTS The Companys only financial assets and liabilities which are measured at fair value on a recurring basis relate to certain aspects of the Companys benefit plans. We use the market approach to determine the fair value of these assets and liabilities using significant other observable inputs (Level 2) with the assistance of third-party specialists. We do not have any assets or liabilities measured at fair value on a recurring basis using quoted prices in an active market (Level 1) or significant unobservable inputs (Level 3). Gains and losses related to the fair value changes in the financial assets and liabilities are recorded in general and administrative expense in the consolidated statements of operations. The following table summarizes the fair value balances (in thousands): Fair Value Measurement at June 30, 2026 Total Level 1 Level 2 Level 3 Assets: Company owned life insurance policies (1) $ 27,625 $ $ 27,625 $ $ 27,625 $ $ 27,625 $ Liabilities: Deferred compensation liabilities $ 20,768 $ $ 20,768 $ $ 20,768 $ $ 20,768 $ Fair Value Measurement at December 31, 2025 Total Level 1 Level 2 Level 3 Assets: Company owned life insurance policies (1) $ 26,627 $ $ 26,627 $ $ 26,627 $ $ 26,627 $ Liabilities: Deferred compensation liabilities $ 18,451 $ $ 18,451 $ $ 18,451 $ $ 18,451 $ (1) Company owned life insurance policies have cash surrender value and are intended to assist in funding deferred compensation liabilities and other benefit plans. …

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13. INCOME TAX EXPENSE The Company recorded an income tax expense of $ 0.5 million and $ 0.3 million for the three and six months ended June 30, 2026 , compared to income tax expense of $ 1.9 million and $ 3.7 million for the three and six months ended June 30, 2025, respectively. The effective tax rate for the three and six months ended June 30, 2026 , was 8.0 % and 4.8 %, respectively. The effective tax rate for the three and six months ended June 30, 2025 , was 15.2 % and 25.4 %, respectively. The effective tax rate for three and six months ended June 30, 2026 was primarily impacted by the jurisdictional earnings mix subject to tax for the period and discrete benefits to the period. The effective tax rate for the three and six months ended June 30, 2025, was primarily impacted by the jurisdictional earnings mix subject to tax for the period, changes in uncertain tax positions in certain jurisdictions and discrete expenses in the period .

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5. LEASES Our operating leases primarily consist of offices and lab space, machinery, equipment, and vehicles. We terminated certain leases in the U.S. and other international locations during the six months ending June 30, 2026 and 2025. See Note 12 - Other (Income) Expense, net for additional information regarding lease termination costs. The components of lease expense and other information are as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Consolidated Statements of Operations: Operating lease expense $ 4,294 $ 4,168 $ 8,769 $ 8,346 Short-term lease expense 470 392 881 881 Variable lease expense 481 378 960 859 Total lease expense $ 5,245 $ 4,938 $ 10,610 $ 10,086 Consolidated Statements of Cash Flows: Operating cash flows - operating leases payments $ 5,184 $ 4,689 $ 9,615 $ 8,895 Right of use assets obtained in exchange for operating lease liabilities $ 1,725 $ 721 $ 6,079 $ 4,876 Other information: Weighted-average remaining lease term - operating leases 7.73 years 8.36 years 7.73 years 8.36 years Weighted-average discount rate - operating leases 5.46 % 5.47 % 5.46 % 5.47 % Scheduled undiscounted lease payments for non-cancellable operating leases consist of the following (in thousands): June 30, 2026 Operating Leases Remainder of 2026 $ 7,456 2027 12,643 2028 9,959 2029 6,501 2030 4,571 Thereafter 22,922 Total undiscounted lease payments 64,052 Less: Imputed interest ( 12,798 ) Total operating lease liabilities $ 5 …

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6. LONG-TERM DEBT, NET We have no finance lease obligations. Debt is summarized in the following table (in thousands): Interest Rate Maturity Date June 30, 2026 December 31, 2025 Revolving Credit Facility Variable July 22, 2029 $ 2,000 $ 3,000 Delayed Draw Term Loan Variable July 22, 2029 49,375 2021 Senior Notes Series A (1) 4.09 % January 12, 2026 45,000 2021 Senior Notes Series B (1) 4.38 % January 12, 2028 15,000 15,000 2023 Senior Notes Series A (2) 7.25 % June 28, 2028 25,000 25,000 2023 Senior Notes Series B (2) 7.50 % June 28, 2030 25,000 25,000 Total long-term debt 116,375 113,000 Less: Debt issuance costs ( 2,514 ) ( 2,745 ) Long-term debt, net $ 113,861 $ 110,255 (1) Interest is payable semi-annually on June 30 and December 30 . (2) Interest is payable semi-annually on March 28 and September 28. On July 22, 2025, we, along with our direct subsidiary Core Laboratories (U.S.) Interests Holdings, Inc. (CLIH) entered into the Ninth Amended and Restated Credit Agreement (as amended, the Credit Facility) for an aggregate borrowing commitment of $ 150.0 million with a $ 50.0 million accordion feature. Draws up to $ 100.0 million are available in the form of a revolving credit facility, and a single draw of $ 50.0 million was made in the form of a delayed draw term loan (DDTL) on January 12, 2026. The $ 50.0 million proceeds from the DDTL were primarily used to retire $ 45.0 million of Senior Notes Series A, which matured on January 12, 2026 , see further discussion below. …

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Recent Accounting Pronouncements Pronouncements Adopted in 2026 In July 2025, FASB issued ASU 2025-05 Financial Instruments Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which allows public business entities to apply a practical expedient when estimating expected credit losses that assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. The amendment is effective for annual and interim periods beginning after December 15, 2025. We adopted the guidance during the six months ended June 30, 2026. The Company has elected to apply the practical expedient to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset. When an account is determined to be uncollectible, we charge the receivable to our allowance for credit losses. Issued But Not Yet Effective In November 2024, FASB issued ASU 2024-03 Income Statement Reporting Comprehensive Income Expense Disaggregation Disclosures (Subtopic 220-40) to improve disclosures about a public business entitys expenses, by providing more detailed information about the types of expenses in commonly presented expense captions. As amended by ASU 2025-01 issued in January 2025, the amendment is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendment ma …

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7. PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS Prior to January 2020, one of our subsidiaries provided a noncontributory defined benefit pension plan covering substantially all of our Dutch employees who were hired prior to 2000 (Dutch Plan). This pension benefit was based on years of service and final pay or career average pay, depending on when the employee began participating. The Dutch Plan was curtailed prior to January 2020, and these employees have been moved into the Dutch defined contribution plan. However, the unconditional indexation for this group of participants continues for so long as they remain in active service with the Company. The components of net periodic pension cost for the Dutch Plan include (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Interest cost $ 416 $ 373 $ 839 $ 720 Expected return on plan assets ( 345 ) ( 301 ) ( 695 ) ( 581 ) Net periodic pension cost $ 71 $ 72 $ 144 $ 139 …

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"15. SEGMENT REPORTING We operate our business in two segments. These complementary operating segments provide different services and products and utilize different technologies for evaluating and improving reservoir performance and increasing oil and gas recovery from new and existing fields. Reservoir Description: Encompasses the characterization of petroleum reservoir rock and reservoir fluids samples to increase production and improve recovery of crude oil and natural gas from our clients reservoirs. We provide laboratory-based analytical and field services to characterize properties of crude oil and crude oil-derived products to the oil and gas industry. Services associated with these fluids include determining the quality and measuring the quantity of the reservoir fluids and their derived products, such as gasoline, diesel and biofuels. We also provide proprietary and joint industry studies based on these types of analyses and manufacture associated laboratory equipment. In addition, we provide reservoir description capabilities that support various activities associated with energy transition projects, including services that support carbon capture, utilization and storage, geothermal projects, and the evaluation and appraisal of mining activities around lithium and other elements necessary for energy storage. Production Enhancement: Includes services and manufactured products associated with reservoir well completions, perforations, stimulation, production and well a …

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2. SIGNIFICANT ACCOUNTING POLICIES UPDATE Basis of Presentation and Principles of Consolidation The accompanying unaudited interim consolidated financial statements include the accounts of Core Laboratories Inc. and its subsidiaries for which we have a controlling voting interest and/or a controlling financial interest. These financial statements have been prepared in accordance with United States generally accepted accounting principles (U.S. GAAP) for interim financial information using the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all of the information and footnote disclosures required by U.S. GAAP for the annual financial statements and should be read in conjunction with the audited financial statements and notes thereto included in Core Laboratories Inc.s Annual Report on Form 10-K for the year ended December 31, 2025, including Note 2 - Summary of Significant Accounting Policies. Core Laboratories Inc.s balance sheet information for the year ended December 31, 2025, was derived from the 2025 audited consolidated financial statements. There have been no changes to the accounting policies during the six months ended June 30, 2026, except as noted below. Core Laboratories Inc. uses the equity method of accounting for investments in which it has less than a majority interest and does not exercise control but does exert significant influence. Non-controlling interest has been recorded to reflect outsid …

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9. EQUITY Treasury Stock During the three and six months ended June 30, 2026 , we distributed 50,544 and 55,214 shares, respectively, of treasury stock upon vesting of stock-based awards. During the three and six months ended June 30, 2026 , we repurchased 214,712 and 266,493 shares, respectively, of our common stock for $ 2.7 million and $ 3.6 million, respectively. The total repurchased shares include rights which were surrendered to us pursuant to the terms of a stock-based compensation plan in consideration of the participants tax burdens resulting from the issuance of common stock under the plan. Rights surrendered to us were 784 and 2,479 shares valued at $ 11 thousand and $ 40 thousand for the three and six months ended June 30, 2026, respectively. Such shares of common stock, unless canceled, may be reissued for a variety of purposes such as future acquisitions, non-employee director stock awards or employee stock awards. Dividend Policy In March and June 2026, we paid a quarterly cash dividend of $ 0.01 per share of common stock. In addition, on July 29, 2026 , we declared a quarterly cash dividend of $ 0.01 per share of common stock for shareholders of record on August 10, 2026 , and payable on August 31, 2026 . Accumulated Other Comprehensive Income (Loss) Amounts recognized, net of income tax, in accumulated other comprehensive income (loss) consist of the following (in thousands): June 30, 2026 December 31, 2025 Pension and other post-retirement benefit plans - u …

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