Corporate Venture Capital Imran Kizilbash Vice President – Schlumberger Venture Fund

1. Corporate Venture Capital Imran Kizilbash Vice President – Schlumberger Venture Fund

2. Agenda • Introduction to Schlumberger • Macro environment • Corporate Venture Capital – Schlumberger Objectives and Rationale • Historical Portfolio Companies • Focus Areas and Ambition • Current Portfolio Companies • Conclusions

3. Schlumberger at a Glance Schlumberger is the worlds leading provider of technology and solutions in Oil & Gas industry since 1926 Drilling Characterization Production • Wireline • Testing & Process • WesternGeco • Software Integrated Solutions • Integrated Services Management • Drilling & Measurements • Drilling Tools & Bits • M-I SWACO • Integrated Drilling Services • Land Rigs • Well Services • Completions • Artificial Lift Solutions • Integrated Production Services • Production Management 2016 Financials Cameron Approximately 100,0002 People • OneSubsea • DrillingSystems • Surface Systems • Valves & Measurement • Revenue $27.8 billion • Net Income1 $ 1.6 billion • R&E $ 1.0 billion Representing 140 Nationalities Working in more than 85 countries 16 GeoMarkets in 2Hemispheres 95 Research, Engineering & ManufacturingCenterslocated in 18 countries Number of clients ~ 7500 Number of suppliers ~ 55,000 *Notes: (1) Net income, excluding charges and credits, (2) Total employee headcount, Jan 2017

4. Worst Oil & Gas Downturn – Looking for Growth Oil Price Upstream Capex Spend USD/bbl USD Billion 2017 2014 2015 2016 Schlumberger Revenue – Excluding CAM Industry Headcount Reduction* USD Million Thousands of employees Well Services Drilling Suppliers E&P Total Upstream Job Cuts *During the downturn period of 2014 — 2016 Source: IEA, IHS, RigZone, IEA

5. Commitment to R&E is a hallmark of Schlumberger R&E Spend (Oilfield Service Sector – 3 largest competitors) R&E Spend Schlumberger Billion USD Billion USD 2014 2015 2016 2014 2015 2016 Source: SEC Filings

6. Increasing Pace of Innovation and Adoption Innovation: • Increasing global IP development • More open innovation shortens development time • First mover technological advantage increasing in importance • Increasing competition for partnering with Universities and academia increasing monetizing these relationship and IP Adoption: • Rate of innovation adoption has greatly increased • Speed to market has become a more important competitive advantage

7. Schlumberger Corporate Venture Capital Effort • Nearly a decade of experience ~ since 2008 • Small team of ~ 4 team members + legal/financial support from corporate • Portfolio of ~ 20 companies

8. Objectives and Business Case Schlumberger Strategic Financial Strategic Drivers • Access to technology, especially from other verticals • Future disruptive innovation • Faster response to market changes • Explore new areas for growth (white spaces) • Create demand for parents company’s products and services • Partnering with other firms Financial Driver ~ to ensure that the corporate venture program is economically robust

9. Investment Rationale Tight Driving (advance strategy of current business) Emergent (allows exploration of potential new business) Link to operational capability Passive (provides financial return only) Enabling (complements strategy of current business) Loose Strategic Corporate Investment Objective Financial Source: Harvard Business Review Articles, 2002 and 2013

10. Historical Portfolio Companies – Liquid Robotics • Silicon Valley and Hawaii based startup • Autonomous marine surface measurement platform propelled by ocean waves • Applications: • Military applications • Meteorological measurements • Schlumberger interest in seismic and subsea. Exit to Boeing in December 2016

11. Historical Portfolio Companies – Contour Energy Services • Caltech battery technology spin-off, Nobel Laureate Founder • Initially developing both Primary and Secondary cells • Applications: • Consumer battery applications • Multiple industrial applications • Schlumberger interest was in downhole high temperature batteries • Company failed in 2014 • Schlumberger commercialized three different batteries for downhole tools that are currently in use

12. Ambition Build a portfolio of 30-50 companies. Capital deployment of a few hundred million by end of 2021 Transact ~ 5+ new opportunities each year • Strategic • Successful joint technology development with Schlumberger business lines • Business development successes for Schlumberger • Growth in some white spaces • Financial • Delivering to corporate a financial return slight higher than our WACC (weighted average cost of capital) • Self sustaining business unit in 5 years time

13. Business and Technology – Areas of Interest

14. Current Portfolio Companies – CelluForce • Montreal based startup • Collaboration with Waterloo University, FP Innovations, Domtar • Nanocrystalline cellulose (a non toxic byproduct of wood pulping process) produced via innovative manufacturing process • Applications: • Reinforced composites • Adhesives • Optical films • Pigments and inks • Drug delivery • Schlumberger applications are around non-toxic well construction and stimulation • Completed field trials in 6 well. Expected to be commercial end of 2017

15. Current Portfolio Companies – WiTricity • Boston based MIT spin off • Wireless power transfer over short to medium distances via resonant magnetic coupling • Listed as one of the top inventions of 2014 by Time Magazine • Applications: • EV (electric vehicle charging) • Consumer product applications (Dell computers …) • Schlumberger interest – wireless downhole and surface power applications in Oil & Gas

16. Conclusions • Schlumberger corporate venture capital group has a decade of experience • Portfolio of ~ 20 companies • Main driver for investments are strategic • Need to deliver a certain threshold of financial performance • Portfolio companies are bringing value to Schlumberger in terms of technology, applications from other verticals and potential growth opportunities • We have a broad remit beyond Oil & Gas and an ambition to grow our portfolio of investments