SCHEDULE: Major Shareholder Group Divests Significant Stake in KLX Energy Services Holdings, Inc.

Geveran Investments Limited and its affiliated entities have reduced their beneficial ownership in KLX Energy Services Holdings, Inc. to below 5% through recent share sales, marking their exit as a major shareholder.

Summary

• Geveran Investments Limited, Famatown Finance Limited, Greenwich Holdings Limited, and C.K. Limited (collectively, the "Reporting Persons") sold an aggregate of 317,461 shares of KLX Energy Services Holdings, Inc. Common Stock between June 20, 2025, and July 1, 2025.
• As a result of these sales, the Reporting Persons ceased to beneficially own more than 5% of the Issuer's Common Stock.
• This filing, Amendment No. 1 to the initial Schedule 13D filed on August 5, 2020, serves as a final exit filing for the Reporting Persons.
• As of the filing date, the Reporting Persons collectively beneficially own 322,339 shares, representing 1.8% of the 17,553,935 Common Stock issued and outstanding.

Sentiment

Score: 3

Explanation: The divestment by a significant shareholder, particularly one associated with a prominent investor like John Fredriksen, typically signals a lack of confidence or a strategic shift away from the company, which is generally viewed negatively by the market.

Negatives

• A significant reduction in beneficial ownership by a group of investors, potentially signaling a loss of confidence or a strategic divestment.
• The Reporting Persons, including entities associated with John Fredriksen's family trusts, have ceased to be a major shareholder, removing a potentially influential investor from the shareholder base.

Risks

• Potential negative market perception due to a significant shareholder reducing their stake, which could lead to downward pressure on the stock price.
• Loss of potential strategic influence or oversight that a large, engaged shareholder might provide.

Future Outlook

No forward-looking statements or guidance are provided in this filing.

Management Comments

• Gunnar Eliassen, a director of the Issuer, is no longer a partner of Seatankers Services (UK) LLP and is neither a director designee of nor related to the Reporting Persons. The Reporting Persons do not have any continuing director designation rights with the Issuer.

Industry Context

This filing primarily concerns a change in beneficial ownership by a specific shareholder group and does not provide broader industry trends or competitive analysis.

Management Changes

Corporate Governance

Related Party Transactions

• The previous relationship where Gunnar Eliassen, a director of the Issuer, was a partner of Seatankers Services (UK) LLP and a director designee of the Reporting Persons has been severed.

Stakeholder Impact

• Shareholders: May interpret the divestment by a significant investor group as a negative signal, potentially leading to decreased investor confidence and downward pressure on share price.
• Management/Board: Reduced influence from a former major shareholder group, potentially altering board dynamics and strategic discussions.

Next Steps

• This Amendment No. 1 represents the final amendment to the Schedule 13D and constitutes an exit filing for the Reporting Persons, indicating no further reporting obligations for these specific entities regarding their beneficial ownership of KLX Energy Services Holdings, Inc. shares.

Key Dates

Keywords

KLX Energy Services Holdings Inc., KLXE, Schedule 13D, beneficial ownership, share sale, Geveran Investments Limited, Famatown Finance Limited, Greenwich Holdings Limited, C.K. Limited, John Fredriksen, energy services, divestment, institutional investor