Weatherford Announces Results of Shareholder Meeting and Redomestication Proposals

HOUSTON, June 11, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced the results of its shareholder meetings held on June 11, 2026, which included a Special Court-Convened Meeting in compliance with Irish law and the Company’s 2026 Annual General Meeting.

Shareholders representing approximately 89.78% of the Company’s 71,933,662 outstanding shares, cast votes at the meetings. All items related to routine matters brought before the shareholders at the Company’s annual meeting were approved, including the election of Weatherford’s directors, the ratification of the Company’s external auditor in KPMG, and other matters.

Shareholders also voted on certain non-routine proposals related to the Company’s proposed redomestication from Ireland to Texas in the U.S. at the meetings. While more than 60% of votes cast were in support of the redomestication proposals, those requiring a higher 75% approval did not receive the level of votes needed to pass.

Given the level of support for the proposed redomestication from Ireland to the U.S. and the associated value to be created thereby, the Company will continue engaging with shareholders and intends to present an updated proposal in the coming weeks to redomicile to Delaware in the U.S. at a future meeting. Further details will be announced in due course.

Girish Saligram, Weatherford’s President and Chief Executive Officer, commented, “We are encouraged by the strong shareholder engagement and the majority support we received for the redomestication proposals. While we are disappointed that we did not achieve the 75% threshold required to move forward, the conversations held as part of our shareholder interactions and the resulting support for the proposed move back to the U.S. reinforces our conviction in the value creation potential of this initiative. We remain confident that aligning our corporate structure with a U.S. domicile will better position Weatherford for long-term growth, enhanced market access, and increased shareholder value. The leadership team and our board of directors remain deeply committed to value creation and believe that the timing is right for the Company to make this move. We are hopeful and confident that the amended proposal to move to Delaware will have broad support. Further, we expect that the modest delay resulting from the transition to Delaware will not impact our employees, customers, operations or the anticipated financial or simplification outcomes for 2027 and beyond, assuming the redomestication is completed. We look forward to continuing our engagement with shareholders as we advance our path forward.”

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