SLB: Key takeaways from Digital Investor Day 2026

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SLB: Key takeaways from Digital Investor Day 2026

SLB Ltd

Key takeaways from Digital Investor Day 2026

Our view: SLB's well-attended Digital Investor Day focused on its integrated Digital strategy,

AI-driven growth opportunities, and 2030 financial ambitions. Management reiterated Digital

as a key growth driver, with particular emphasis on scaling the Platform and Applications

toward subscription-based models and doubling Digital add-ons with Digital Operations. We

maintain our Outperform rating and $61 price target.

Key takeaways from SLB’s 2026 Digital Investor Day

SLB’s focus is on an integrated Digital strategy and portfolio, scalable growth opportunities

powered by AI, and 2030 financial ambitions. Our key takeaways from the event include:

• Digital is a key element of SLB's strategy. SLB sees Digital as a foundational element in

unlocking returns, both for its customers and SLB. The company also believes Digital is a key

element in solving the Energy Trilemma by increasing performance and efficiency. The

margins of the Digital segment are approx. 1.5x its core business and benefit from several

secular growth trends.

• SLB believes it has built a Digital moat on four key pillars — domain expertise, platforms,

partners, and scale. Management noted that a century of subsurface science is embedded

directly into SLB's platforms and AI models, underpinned by $3Bn+ in R&D since 2016 and

390 patents in five years. This science powers an open platform stack, built over decades

and difficult to replicate. On partnerships, 40+ strategic partners have contributed to 175+

third-party plug-ins and 110 applications.

• Structurally growing TAM. Digital demand is driven by structural industry priorities including