Core Laboratories N : Lab Reports Forth-Quarter 2016 Results

FOR IMMEDIATE RELEASE

• REVENUE OF $150 MILLION, UP SEQUENTIALLY OVER 3Q
• U.S. LAND REVENUE UP 13% SEQUENTIALLY VS. 2% FOR U.S. COMPLETIONS
• GAAP EPS OF $0.35, EX-ITEMS EPS OF $0.41, UP 8% SEQUENTIALLY OVER Q3
• FY 2016 FCF OF $121 MILLION WAS 190% OF FY 2016 NET INCOME
• OILFIELD SERVICES-LEADING 2016 FCF/REVENUE CONVERSION RATE OF 20%
• COMPANY POSTS OILFIELD SERVICES-LEADING ROIC
• COMPANY SEES 1H 2017 BOTTOM FOR DEEPWATER AND INTERNATIONAL ACTIVITY

AMSTERDAM (25 January 2017) - Core Laboratories N.V. (NYSE: "CLB US" and Euronext Amsterdam: "CLB NA") ("Core", "Core Lab", or the "Company") reported fourth quarter 2016 revenue of $149,500,000, up over 4% sequentially from the third quarter 2016, with earnings per diluted share ("EPS") of $0.35 in accordance with U.S. generally accepted accounting principles ("GAAP"). Excluding foreign currency translations ("ex-fx") and a higher than guided tax rate (collectively with ex-fx, "ex-items"), EPS was $0.41, up 8% sequentially from the prior quarter. Net income for the fourth quarter 2016 increased to $18,300,000; and operating income increased to $21,900,000, up sequentially 9% and 2%, respectively, ex-items, with operating margins of 15%. On a GAAP basis, fourth quarter net income was $15,500,000, and operating income was $21,500,000, with operating margins of 14%. During the fourth quarter 2016, Core generated

$19,600,000 of free cash flow ("FCF"), defined as cash from operations less capital expenditures. For the year, Core generated $120,500,000 in FCF, converting 20% of every revenue dollar to free cash.

The Company is clearly benefiting from increased activity onshore U.S. as land revenue for Production Enhancement operations for the fourth quarter increased 13% on a sequential basis, outpacing the 2% increase in the industry's quarterly completions which indicates increased market penetration of Core's completion products and diagnostic services. Reservoir Description operations performed well, considering challenging international and deepwater markets. Core believes those markets are poised for a rebound beginning in the first half of 2017 as several new major capital projects have recently been announced, including BP's Mad Dog Phase II and Chevron's Tengiz field expansion. Additionally, Core's clients indicate several major capital project announcements are pending. Supporting this observation, Wood Mackenzie Ltd. predicts the number of major capital project announcements will rise above 20 in 2017, more than doubling the nine that were approved in 2016.

As reported in previous quarters, the Board of Supervisory Directors ("Board") of Core Laboratories N.V. has established an internal performance metric of achieving a return on invested capital ("ROIC") in the top decile of the service companies listed as Core's peers by Bloomberg Financial ("Comp Group"). Based on Bloomberg's calculations for the latest comparable data available, Core's ROIC is the highest of comparably sized companies in its oilfield services Comp Group.

Core Laboratories reports results under three operating segments: Reservoir Description, Production Enhancement, and Reservoir Management.

Reservoir Description

Reservoir Description operations, which focus primarily on producing fields in international and deepwater markets and an increasing number of reservoir fluid phase-behavior and crude oil characterization projects, reported fourth quarter 2016 revenue of $99,400,000, essentially flat when compared with the prior quarter. On a GAAP basis, operating income was $17,300,000. Ex-fx, operating income was $17,700,000 yielding operating margins of 17.9%.

Reservoir Description's relative outperformance, compared with falling international and deepwater drilling activity levels, continues to be underpinned by Core's differentiated technology offerings and industry- leading, cutting-edge reservoir fluid characterization capabilities -- particularly enhanced oil recovery ("EOR") in tight-oil unconventional reservoirs.

The Company currently has six major EOR projects for unconventional reservoirs underway in various stages. Several formations and different basins are under study with multiple clients. Core has determined that the EOR techniques most effective in unconventional reservoirs will differ greatly from EOR methods used in conventional reservoirs worldwide. The injection of miscible gases and the application of gas- absorption techniques developed at in situ reservoir pressures and temperatures have proven far superior to the pressurized physical movement of hydrocarbons using flood fronts typically employed in conventional fields.

Cycling of in situ light hydrocarbon gases and the absorption and capture of longer-chained hydrocarbons in unconventional reservoirs are leading to significant improvements in oil-recovery factors. On average, unconventional reservoirs currently yield a recovery factor of approximately 9%. Light hydrocarbon gas injections, cycling, and absorption efficiencies have yielded recoveries of up to 15% under laboratory-based, reservoir-condition testing parameters. Increased recovery factors from unconventional tight-oil reservoirs significantly raises client ROIC, FCF, and the net present value of their producing assets.

In offshore projects, Core continues to perform increasing numbers of reservoir fluid phase-behavior and crude oil characterization studies from producing fields in the Gulf of Mexico ("GOM") and West Africa. Additionally, the Company is continuing advanced rock properties studies and will begin extensive reservoir fluid phase-behavior testing on the ExxonMobil Liza-2 well, offshore Guyana, and on a potential giant field discovery offshore West Africa. Both of these discoveries are world-class in nature, with recoverable crude oil equivalent reserves expected to exceed one billion barrels. Numerous projects in the GOM are related to flow-assurance projects that improve the financial returns from satellite tie-backs to main production facilities.

Crude oil characterization, distillation, and fractionation studies increased during the fourth quarter of 2016, as oil company clients continued to investigate ways to maximize yields through the refining process. The Company continues to invest in technologies to improve yields and product blends for its clients, most recently through direct client access to real-time data from mobile devices.

Production Enhancement

Production Enhancement operations, largely focused on U.S. unconventional reservoirs, benefited from increased land activity levels and posted significantly higher fourth quarter 2016 revenue, operating income, operating margins, and incremental margins compared with the third quarter of 2016. With U.S. land-based revenue up 13% on a sequential quarterly basis, Production Enhancement posted fourth quarter revenue of

$43,200,000, while well completions, according to the Energy Information Administration, increased only 2% over the same period. Operating income increased to $2,900,000 and operating margins increased over 350 basis points to 7% in the fourth quarter of 2016 on a GAAP basis, while ex-fx operating income increased to

$3,000,000 and operating margins increased over 350 basis points to 7%. Sequential quarterly incremental margins climbed to 33%. Operating and sequential incremental margins improved in response to the increased sequential activity, and the Company expects Production Enhancement incremental margins to continue expanding and to exceed 60% as activity increases further during the recovery phase of this business cycle.

Late in the quarter, Core saw an increase in high intensity, denser and more complex completions that require new technology to boost daily production and operator ROIC. Over the past eighteen months, Core, Pioneer Natural Resources ("PXD") and HRL Laboratories, formerly known as the Hughes Research Laboratory, have been working in a technical alliance to develop expert-guided machine learning applications for the large geoscience and petrophysical data sets collected in the Permian Basin. These applications significantly shorten the time to analyze, interpret and populate reservoir characterization data in basin models. This has significant implications for identifying and targeting potentially highly productive zones in the stacked reservoirs both geographically and stratigraphically. Core has signed agreements with PXD and HRL to commercialize the applications. Core will also be able to leverage this technology and associated services for application to the Company's Global Reservoir Rock Catalog database and various deepwater projects. Other areas of ongoing research are under study.

The Company's recently released HERO®PerFRAC perforating system provides consistent hole sizes throughout the perforating cluster, thereby maximizing frac efficiency and increasing stimulated reservoir volume ("SRV"). While perforating penetration in unconventional shale formations is typically less than 10 inches using low-tech commodity perforating charges, Core's HERO®PerFRAC systems deliver penetrations up to 40 inches, with consistent hole sizes and minimal debris throughout the perforating cluster. This equalizes the perforating friction and allows all perforations to contribute to the fracing operation. Also, tortuosity is reduced, enhancing proppant deployment at lower hydraulic pumping pressures. The HERO®PerFRAC system is specifically designed to provide 100% contribution of perforating clusters, require minimal hydraulic horsepower to efficiently place fracture treatments, maximize SRV, and increase ultimate recovery from the reservoir.

Reservoir Management

For the fourth quarter of 2016, Reservoir Management operations reported revenue of $7,000,000 and operating income of $1,300,000, yielding operating margins of 18.0% on a GAAP basis. Ex-fx, operating income was $1,200,000, yielding operating margins of 17.7%.

In the quarter, interest in evaluating Permian Basin acreage remained at high levels, and several additional operating companies joined Core's Permian Basin joint industry project ("JIP"). The Company is initiating a JIP of the Mississippian-aged Meramec and Osage formations, which overlay the Silurian-aged Woodford Formation in the STACK-B play that includes Blaine County. Core believes that the combination of the STACK-B and the South Central Oklahoma Oil Province ("SCOOP") will be designated as a major resource play in the U.S. This JIP study will complement Core's existing JIP in the Oklahoma Woodford shale, which has numerous oil company participants.

Reservoir Management is currently proposing two new JIPs featuring new technology and its evolution in tight-oil unconventional reservoirs and deepwater opportunities. Core will propose a large-scale study of effective EOR techniques in tight-oil unconventional reservoirs including numerous formations from multiple basins. Another proposed JIP, the Deepwater Gulf of Mexico II Study, will examine new opportunities in one of the world's most prolific producing areas. Core believes both JIPs will be initiated in the first quarter of 2017.

Free Cash Flow and Dividends

During the fourth quarter of 2016, Core's operations generated $23,200,000 in cash from operating activities and had capital expenditures of $3,600,000, yielding $19,600,000 of FCF. For the full year 2016, Core's cash from operating activities was $131,900,000; capital expenditures were $11,400,000; and FCF was

$120,500,000, representing nearly 190% of net income and 20% of revenue. Core's FCF has exceeded net income in 11 of the last 15 years.

On 11 October 2016, the Board announced a quarterly cash dividend of $0.55 per share of common stock, which was paid on 22 November 2016 to shareholders of record on 21 October 2016. Dutch withholding tax was deducted from the dividend at a rate of 15%.

On 10 January 2017, the Board announced a quarterly cash dividend of $0.55 per share of common stock, payable in the first quarter of 2017. The quarterly cash dividend will be payable 17 February 2017 to shareholders of record on 20 January 2017. Dutch withholding tax will be deducted from the dividend at a rate of 15%.

Return On Invested Capital

As reported in previous quarters, the Company's Board has established an internal performance metric of achieving an ROIC in the top decile of the oilfield service companies listed as Core's Comp Group by Bloomberg Financial. The Company and its Board believe that ROIC is a leading long-term performance metric used by shareholders to determine the relative investment value of publicly traded companies. Further, the Company and its Board believe that shareholders will benefit if Core consistently performs in the highest ROIC decile of its Comp Group. According to the latest financial information from Bloomberg, Core's ROIC is the highest of any comparably sized oilfield service company listed in its Comp Group. Comp Group companies listed by Bloomberg include Halliburton, Schlumberger, CARBO Ceramics, FMC Technologies, Baker Hughes, Oceaneering, National Oilwell Varco, and Oil States International, among others. Several of these companies failed to post ROIC that exceeded their weighted average cost of capital ("WACC"), thereby eroding capital and shareholder value. Core's ratio of ROIC to WACC is the highest of any comparably sized company in the Comp Group.

First Quarter 2017 Revenue and EPS Guidance

As has been the case for past recoveries, Core expects its revenue growth to ultimately outperform the increase in industry activity rates by 200 to 400 basis points. Core expects to generate incremental operating income margins of up to approximately 60% early in the activity recovery phase followed by historical incremental operating income margins of approximately 35% to 45% well into the recovery phase. Core's North America ("NA") revenue is correlated with completion and stimulation events and large-scale reservoir rock and reservoir fluid characterization rather than immediately correlated with increasing rig counts. Wells need to be drilled and subsequently completed, stimulated, cored, or have reservoir fluid samples collected before Core can realize a revenue event.

Core is clearly benefiting from increased U.S. onshore activity and expects revenue and operating income to increase further in 2017 as international and offshore markets improve with additional major capital project announcements. These activities should drive Core's revenue higher in consecutive quarters in 2017, expanding incremental and operating margins.

As Core projected earlier this year, the Company's third quarter results established the bottom of the expected "V-shaped" recovery that will continue into 2017. Core believes that the global crude oil market is currently under-supplied. This is indicated by recent IEA worldwide crude-oil inventory data that has declined over the past four months and is projected to decline for the fifth straight month in December 2016. Projected OPEC production cuts in early 2017 of 1,344,000 barrels of oil per day ("bopd"), and other cooperating