Schlumberger Announces Redemption of 100% of Outstanding 2.40% Senior Notes Due 2022

Deposit of funds for redemption satisfies and discharges indenture

HOUSTON--(BUSINESS WIRE)--As part of its ongoing commitment to debt reduction, Schlumberger Limited (“Schlumberger”) today announced that Schlumberger Investment SA, an indirect wholly-owned subsidiary of Schlumberger (“SISA”), will redeem the entire outstanding principal amount of its 2.40% Senior Notes due 2022 (CUSIP Nos. 806854AD7 / L81445AD7; and ISIN Nos. US806854AD77 / USL81445AD75) (the “Notes”). The redemption date for the Notes is May 2, 2022 (the “Redemption Date”).

The aggregate principal amount of the Notes outstanding is $1,000,000,000. SISA has deposited sufficient funds with The Bank of New York Mellon, the trustee under the indenture governing the Notes, to satisfy and discharge the Notes and the indenture with respect to the Notes (including payment of the February 1, 2022 interest payment with respect to the Notes and the redemption price payable on the Redemption Date), and the trustee has acknowledged such satisfaction and discharge.

The Notes will be redeemed on the Redemption Date at a redemption price for the Notes equal to (a) 100% of the aggregate principal amount being redeemed, plus (b) accrued and unpaid interest on the Notes from the February 1, 2022 interest payment date to, but excluding, the Redemption Date. On and after the Redemption Date, the Notes will cease to be outstanding and interest will cease to accrue on the Notes.

Notices of redemption are being sent by the trustee for the Notes to all currently registered holders of the Notes.

About Schlumberger

Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, Schlumberger collaborates to create technology that unlocks access to energy for the benefit of all.

Find out more at www.slb.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws — that is, statements about the future, not about past, events. Such statements often contain words such as “expect,” “may,” “believe,” “plan,” “estimate,” “intend,” “anticipate,” “should,” “could,” “will,” “see,” “likely” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements regarding the terms and timing of the redemption of the Notes. Neither Schlumberger nor SISA can give any assurance that such statements will prove correct. These statements are subject to, among other things, the risks and uncertainties detailed in Schlumberger’s most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the Securities and Exchange Commission. Actual outcomes may vary materially from those reflected in Schlumberger’s forward-looking statements. The forward-looking statements speak only as of the date of this press release, and Schlumberger and SISA disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.