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Statements contained in this Annual Report relating to future operations, financial results and business plans that are forward looking statements are based upon certain assumptions and analysis made by the management of the Company in light of its experience and perception of historical trends, current conditions, expected developments and other factors. These statements are subject to risks beyond the Company’s control, including the factors detailed in the Company’s Annual Report on Form 10-K enclosed herewith. Investors are cautioned that any such statements are not guarantees of future performance and actual outcomes may vary materially from those indicated. 

DRIL-QUIP’S Dual Bore Production Tree, with Lower Riser Package (LRP) and Emergency Disconnect Package (EDP) in Final Assembly test pit. 

## On the cover: 

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## Company Profile 

DRIL-QUIP, INC. is one of the world’s leading manufacturers of offshore drilling and production equipment which is well-suited for use in deepwater applications. The Company designs and manufactures subsea, surface and offshore rig equipment for use by oil and gas companies in offshore areas throughout the world. DRIL-QUIP also provides installation and reconditioning services and rents running tools for use with its products. 

Headquartered in Houston, Texas, DRIL-QUIP has manufacturing facilities in the United States, Scotland and Singapore. The Company also has sales and service offices in numerous locations throughout the world (reference map on pages 4-5). 

D RIL-QUIP’S principal products consist of subsea and surface wellheads, subsea and surface production trees, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, wellhead connectors and diverters. The Company has developed its broad line of subsea, surface and offshore rig equipment exclusively through internal product development efforts. D RIL-QUIP has continually introduced new products and product enhancements since its founding in 1981. 

DRIL-QUIP’S manufacturing operations are vertically integrated, with the Company performing essentially all of its forging, heat treating, machining, fabrication, inspection, assembly and testing at its own facilities. 

The Company’s common stock is traded on the New York Stock Exchange under the symbol "DRQ". 

