SCHEDULE: Varde Exits Nabors Industries Stake

Varde Investment Partners and related entities have fully divested their beneficial ownership in Nabors Industries Ltd. common shares.

Summary

• Varde Investment Partners (Offshore) Master, L.P., Varde Credit Partners Master, L.P., Varde Investment Partners, L.P., The Varde Skyway Master Fund, L.P., and Varde Partners, Inc. (collectively, 'Reporting Persons') have ceased to beneficially own any common shares of Nabors Industries Ltd.
• The divestment of shares occurred through dispositions made in January 2026.
• As of the filing date, the aggregate amount beneficially owned by each Reporting Person is 0.00 shares, representing 0% of the class of securities.
• The filing is an Amendment No. 2 to a Schedule 13G, indicating a change from previously reported beneficial ownership.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of an institutional investor's complete exit from a position. It does not contain information that inherently suggests a positive or negative outlook for the issuer, but rather reflects a past transaction by a third party.

Positives

• The filing provides clear disclosure regarding the complete exit of a significant institutional investor, offering transparency to the market.

Negatives

• The complete divestment by Varde Investment Partners and its affiliates could be interpreted by some investors as a lack of confidence in Nabors Industries Ltd.'s future prospects, potentially leading to negative sentiment.

Risks

• The exit of a major institutional investor like Varde could lead to increased selling pressure on Nabors Industries Ltd.'s stock if other investors follow suit.
• A reduction in institutional ownership might decrease the stock's liquidity or perceived stability.

Future Outlook

This filing does not contain any forward-looking statements or guidance from Nabors Industries Ltd. It solely reports the past action of an institutional investor's complete divestment.

Industry Context

This filing reflects a specific portfolio management decision by Varde Investment Partners, rather than a broad industry trend. While the energy services sector, in which Nabors operates, is subject to cyclicality, this divestment is an isolated event from a single investor's perspective and does not inherently indicate a shift in overall industry sentiment.

Stakeholder Impact

• Shareholders of Nabors Industries Ltd. should note the complete exit of Varde Investment Partners and its affiliates, which previously held a stake in the company. This could influence market perception and trading activity.

Key Dates

Keywords

Nabors Industries, Varde Investment Partners, Schedule 13G, beneficial ownership, divestment, institutional investor, common shares, SEC filing