Liberty Energy Inc. Releases 2024 Bettering Human Lives Report

Liberty Energy Inc. (NYSE: LBRT; "Liberty" or the "Company") proudly announced today the release of our 2024 Bettering Human Lives report, highlighting the central role that energy plays in human lives.

"A thriving energy system enables a thriving society and a future of opportunity. Unfortunately, politics is increasingly dominating the trajectory of American energy with growing consequences. The costs of getting energy wrong include reduced living standards, fewer job opportunities, reduced national security, and reduced environmental quality," commented Chris Wright, Chief Executive Officer. "Bettering Human Lives seeks to inform readers and drive thoughtful dialogue surrounding the tradeoffs at the nexus of energy, climate, poverty, and prosperity. The comprehensive report is filled with real-world case studies and segmented into six sections: Energy, Energy and the Modern World, Energy Poverty, Climate Change, Climate Economics, and an in-depth section on Liberty Energy."

"Liberty strives to be a force for disruptive change in the energy industry with our culture of excellence, technological advancements, and our quest to advance energy production. We strongly support all energy sources that improve our energy system and better lives," continued Mr. Wright. "Earlier this year, we announced the launch of the Bettering Human Lives Foundation specifically to address this most urgent energy access issue, furthering our ambition to deliver the secure, affordable, reliable energy vital to human success. Liberty has provided $1 million of initial funding to kickstart the BHL Foundation's efforts to provide better access to clean cooking fuels in Africa. We hope that many more will join us in this endeavor to improve the health, longevity, and expand opportunities for those currently living in energy poverty."

Key Takeaways from the 2024 Bettering Human Lives Report:

1. Energy is essential to life and the world needs more of it!
2. The modern world today is powered by and made of hydrocarbons.
3. Hydrocarbons are essential to improving the wealth, health, and life opportunities for the less energized seven billion people who aspire to be among the world's lucky one billion.
4. Hydrocarbons supply more than 80% of global energy and thousands of critical materials and products.
5. The American Shale Revolution transformed energy markets, energy security, and geopolitics.
6. Global demand for oil, natural gas, and coal are all at record levels and rising ? no energy transition has begun.
7. Modern alternatives, like solar and wind, provide only a part of electricity demand and do not replace the most critical uses of hydrocarbons. Energy-dense, reliable nuclear could be more impactful.
8. Making energy more expensive or unreliable compromises people, national security, and the environment.
9. Climate change is a global challenge but is far from the world's greatest threat to human life.
10. Zero Energy Poverty by 2050 is a superior goal compared to Net Zero emissions by 2050.

"Our mission is to better human lives. Human happiness comes through relationships, love, and a strong life purpose. Preconditions for these ultimate ends are food, shelter, health, education, and longevity," continued Mr. Wright. "None of these are possible without energy, and the quality of each depends on the degree of access to affordable, reliable, and secure energy."

The Bettering Human Lives report is available for download at www.libertyenergy.com. Requests for the printed report can be made at Liberty's website, or please contact [email protected].

About Liberty

Liberty is a leading North American energy services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next-generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please visit www.libertyenergy.com. For more information about the Bettering Human Lives Foundation, please visit www.betteringhumanlives.org.