NOTE 14. SHARE REPURCHASE PLAN

On February 25, 2025, the Board approved the New Share Repurchase Program that authorizes repurchases of up to an aggregate of $100 million of outstanding Company Common Stock. In connection with the New Share Repurchase Program, all share repurchase plans previously authorized by the board of directors of Dril-Quip have been terminated. The New Share Repurchase Program does not require us to repurchase a specific number of shares or have an expiration date. Any shares repurchased under the New Share Repurchase Program will be cancelled.

During the six months ended June 30, 2025, the Company purchased 624,531 shares at an average price of $14.89 under the New Share Repurchase Program for approximately $9.3 million and has retired such shares. As of June 30, 2025, the Company had remaining authorization to repurchase up to approximately $90.7 million of its shares.