KLX Energy Services Holdings, Inc.

, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and elsewhere in this Annual Report, including the following factors: general economic conditions, such as inflation and government efforts to reduce inflation or a recession; persistent volatility in national and global crude oil demand and crude oil prices; the possibility of inefficiencies, curtailments or shutdowns in our customers’ operations, whether in response to reductions in demand or other factors; uncertainty regarding our future operating results; regulation of and dependence upon the energy industry; the cyclical nature of the energy industry; fluctuations in market prices for fuel, oil and natural gas; our ability to maintain acceptable pricing for our services; our ability to maintain compliance with the covenants in our debt agreements and our liquidity levels and the need to obtain additional capital or financing, and the availability and/or cost of obtaining such capital or financing; competitive conditions within the industry; the loss of or interruption in operations of one or more key suppliers; legislative or regulatory changes and potential liability under federal and state laws and regulations; decreases in the rate at which oil and/or natural gas reserves are discovered and/or developed; the impact of technological advances on the demand for our products and services; customers' delays in obtaining permits for their operations; hazards and operational risks that may not be fully covered by insurance; limitations originating from our organizational docume