Mubbadrah trims NESR (NESR) stake to 4.25% in Schedule 13D exit

Rhea-AI Filing Summary

National Energy Services Reunited Corp. received an updated ownership report from a shareholder group led by Mubbadrah Investment LLC. The group now reports beneficial ownership of 4,278,532 ordinary shares, representing 4.25% of the company’s ordinary shares outstanding as of September 30, 2025.

The amendment states that Mubbadrah sold 867,478 ordinary shares in open-market transactions between November 5, 2025 and January 22, 2026. As a result, the reporting persons ceased to be beneficial owners of more than 5% of the company’s ordinary shares, and this filing is characterized as an exit filing for them.

Insights

Equity ownership and disclosure analyst

Large NESR shareholder reduced its stake below the 5% reporting threshold through open-market sales.

The filing shows that entities associated with Mubbadrah Investment LLC now report beneficial ownership of 4,278,532 ordinary shares of National Energy Services Reunited Corp., representing 4.25% of the outstanding ordinary shares as of September 30, 2025.

The amendment reports open-market sales totaling 867,478 ordinary shares from November 5, 2025 through January 22, 2026. These transactions reduced the group’s holdings below the 5% level, so this amendment is described as an exit filing under the beneficial ownership reporting rules.

The filing also details the ownership structure among Mubbadrah, Wild Investment LLC, Myrad Investment LLC, and the two individual reporting persons, and includes disclaimers of beneficial ownership except to the extent of pecuniary interests. Future company filings may further update ownership levels if additional trades occur.

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Accepted by SEC EDGAR 02/17/2026 - 09:36 AM Learn about SEC filing dates

FAQ

What does National Energy Services Reunited Corp. (NESR) Schedule 13D/A Amendment No. 9 report?

The amendment reports that a shareholder group led by Mubbadrah Investment LLC now beneficially owns 4,278,532 NESR ordinary shares, or 4.25% of the class. It reflects updated ownership after open-market sales and is characterized as an exit filing for the reporting persons.

How many NESR shares does Mubbadrah Investment LLC beneficially own after this amendment?

The reporting persons state beneficial ownership of 4,278,532 NESR ordinary shares following recent transactions. This stake represents 4.25% of the company’s ordinary shares outstanding as of September 30, 2025, based on totals disclosed in a Form 6-K filed by the issuer on November 13, 2025.

What share sales are disclosed in NESR’s Schedule 13D/A Amendment No. 9?

The amendment reports that Mubbadrah sold 867,478 NESR ordinary shares in open-market transactions. These trades occurred between November 5, 2025 and January 22, 2026, as further detailed on Schedule A referenced in the filing, and reduced the group’s beneficial ownership below 5%.

Why is this NESR Schedule 13D/A described as an exit filing?

It is described as an exit filing because the reporting persons ceased to be beneficial owners of more than 5% of NESR’s ordinary shares. After selling 867,478 shares in open-market transactions, their reported stake fell to 4.25%, below the 5% reporting threshold.

How was the 4.25% ownership percentage for NESR calculated in the amendment?

The 4.25% figure is based on 4,278,532 NESR ordinary shares beneficially owned versus a total of 100,777,759 ordinary shares outstanding. That total outstanding share count comes from NESR’s Form 6-K for September 30, 2025, filed with the SEC on November 13, 2025.

Who are the reporting persons in the NESR Schedule 13D/A Amendment No. 9?

The reporting persons are Mubbadrah Investment LLC, Wild Investment LLC, Myrad Investment LLC, Yasser Al Barami, and Hilal Al Busaidi. The filing explains their ownership relationships and notes that several of them disclaim beneficial ownership except to the extent of their pecuniary interests.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 9)

National Energy Services Reunited Corp.

(Name of Issuer)

Ordinary Shares, no par value

(Title of Class of Securities)

G6375R107

(CUSIP Number)

Mubbadrah Investment LLC
Building No. 1/21 Way No. 5001, Near Al Nadha Towers, Ghala,
Muscat, P4, XX
968 24390901

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

11/13/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. G6375R107

1

Name of reporting person

Mubbadrah Investment LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OMAN

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,278,532.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,278,532.00

11

Aggregate amount beneficially owned by each reporting person

4,278,532.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.25 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

(2) This Schedule 13D is filed by Mubbadrah Investment LLC ("Mubbadrah"), Wild Investment LLC, formerly Wild Holding LLC ("Wild Investment"), Myrad Investment LLC, formerly Myrad Holding LLC ("Myrad Investment"), Yasser Al Barami ("Mr. Al Barami") and Hilal Al Busaidi ("Mr. Al Busaidi" and, together with Mubbadrah, Wild Investment, Myrad Investment, and Mr. Al Barami, the "Reporting Persons"). The Reporting Persons each expressly disclaim status as a group for purposes of this Schedule 13D. (8, 10 and 11) Consists of 4,278,532.00 ordinary shares, no par value ("Ordinary Shares"), of National Energy Services Reunited Corp. (the "Issuer") held by Mubbadrah. Wild Investment and Myrad Investment each own 50% of Mubbadrah. Mr. Al Barami owns 90% of Wild Investment and Mr. Al Busaidi owns 97.5% of Myrad Investment. By virtue of these relationships, Wild Investment, Myrad Investment, Mr. Al Barami and Al Busaidi may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Each of Wild Investment, Myrad Investment, Mr. Al Barami and Mr. Al Busaidi disclaim beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of each of their pecuniary interests therein. (13) The percentage is calculated based upon a total of 100,777,759 Ordinary Shares, no par value, of National Energy Services Reunited Corp., outstanding as of September 30, 2025, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission on November 13, 2025, the last public disclosure by the Issuer of the outstanding Ordinary Shares of the Issuer. (13) This Amendment constitutes an exit filing for the Reporting Person. (13) This Amendment constitutes an exit filing for the Reporting Person.

SCHEDULE 13D

CUSIP No. G6375R107

1

Name of reporting person

Wild Investment LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OMAN

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,278,532.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,278,532.00

11

Aggregate amount beneficially owned by each reporting person

4,278,532.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.25 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

(8, 10 and 11) Consists of 4,278,532.00 Ordinary Shares held by Mubbadrah. Wild Investment owns 50% of Mubbadrah. By virtue of this relationship, Wild Investment may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Wild Investment disclaims beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of its pecuniary interests therein. (13) The percentage is calculated based upon a total of 100,777,759 Ordinary Shares, no par value, of National Energy Services Reunited Corp., outstanding as of September 30, 2025, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission on November 13, 2025, the last public disclosure by the Issuer of the outstanding Ordinary Shares of the Issuer. (13) This Amendment constitutes an exit filing for the Reporting Person.

SCHEDULE 13D

CUSIP No. G6375R107

1

Name of reporting person

Myrad Investment LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OMAN

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,278,532.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,278,532.00

11

Aggregate amount beneficially owned by each reporting person

4,278,532.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.25 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

(8, 10 and 11) Consists of 4,278,532.00 Ordinary Shares held by Mubbadrah. Myrad Investment owns 50% of Mubbadrah. By virtue of this relationship, Myrad Investment may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Myrad Investment disclaims beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of its pecuniary interests therein. (13) The percentage is calculated based upon a total of 100,777,759 Ordinary Shares, no par value, of National Energy Services Reunited Corp., outstanding as of September 30, 2025, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission on November 13, 2025, the last public disclosure by the Issuer of the outstanding Ordinary Shares of the Issuer. (13) This Amendment constitutes an exit filing for the Reporting Person.

SCHEDULE 13D

CUSIP No. G6375R107

1

Name of reporting person

Yasser Al Barami

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OMAN

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,278,532.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,278,532.00

11

Aggregate amount beneficially owned by each reporting person

4,278,532.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.25 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

(8,10,11) Consists of 4,278,532.00 Ordinary Shares held by Mubbadrah. Mr. Al Barami owns 90% of Wild Investment, which owns 50% of Mubbadrah. By virtue of this relationship, Mr. Al Barami may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Mr. Al Barami disclaims beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of his pecuniary interests therein. (13) The percentage is calculated based upon a total of 100,777,759 Ordinary Shares, no par value, of National Energy Services Reunited Corp., outstanding as of September 30, 2025, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission on November 13, 2025, the last public disclosure by the Issuer of the outstanding Ordinary Shares of the Issuer. (13) This Amendment constitutes an exit filing for the Reporting Person.

SCHEDULE 13D

CUSIP No. G6375R107

1

Name of reporting person

Hilal Al Busaidi

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OMAN

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,278,532.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,278,532.00

11

Aggregate amount beneficially owned by each reporting person

4,278,532.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.25 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

(8, 10 and 11) Consists of 4,278,532.00 Ordinary Shares held by Mubbadrah. Mr. Al Busaidi owns 97.5% of Wild Investment, which owns 50% of Mubbadrah. By virtue of this relationship, Mr. Al Busaidi may be deemed to share voting and dispositive control over the Ordinary Shares held by Mubbadrah. Mr. Al Busaidi disclaims beneficial ownership of any Ordinary Shares held or beneficially owned by Mubbadrah, except to the extent of his pecuniary interests therein. (13) The percentage is calculated based upon a total of 100,777,759 Ordinary Shares, no par value, of National Energy Services Reunited Corp., outstanding as of September 30, 2025, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission on November 13, 2025, the last public disclosure by the Issuer of the outstanding Ordinary Shares of the Issuer. (13) This Amendment constitutes an exit filing for the Reporting Person.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Ordinary Shares, no par value
(b)	Name of Issuer: National Energy Services Reunited Corp.
(c)	Address of Issuer's Principal Executive Offices: 777 POST OAK BLVD., 7TH FLOOR, HOUSTON, TEXAS , 77056.
Item 1 Comment: EXPLANATORY NOTE This Amendment No. 9 (the "Amendment") amends and supplements the Schedule 13D filed with the Securities and Exchange Commission (the "Commission") on September 27, 2018, by Mubbadrah Investment LLC, an Oman limited liability company ("Mubbadrah"), Wild Investment LLC, an Oman limited liability company, formerly Wild Holding LLC ("Wild Investment"), Myrad Investment LLC, an Oman limited liability company, formerly Myrad Holding LLC ("Myrad Investment"), Yasser Al Barami ("Mr. Al Barami"), and Hilal Al Busaidi ("Mr. Al Busaidi" and, together with Mubbadrah, Wild Investment, Myrad Investment, and Mr. Al Barami, the "Reporting Persons"), as amended by the Amendment No. 1 thereto filed with the Commission on October 8, 2019, the Amendment No. 2 thereto filed with the Commission on June 24, 2020, the Amendment No. 3 thereto filed with the Commission on October 21, 2020, the Amendment No. 4 thereto filed with the Commission on November 22, 2021, the Amendment No. 5 thereto filed with the Commission on June 23, 2022, the Amendment No. 6 thereto filed with the Commission on August 12, 2024, the Amendment No. 7 thereto filed with the Commission on March 24, 2025 and the Amendment No. 8 thereto filed with the Commission on November 24, 2025 (such Schedule 13D as amended to date, the "Schedule 13D"). Capitalized terms used but not otherwise defined in this Amendment have the meanings ascribed to such terms in the Schedule 13D. Except as expressly amended and supplemented by this Amendment, the Schedule 13D is not amended or supplemented in any respect, and the disclosures set forth in the Schedule 13D, other than as amended herein are incorporated by reference herein. As a result of the open market sales described below, the Reporting Persons ceased to be beneficial owners of more than 5% of the Issuer's Ordinary Shares. Therefore, the filing of this Amendment constitutes an exit filing for the Reporting Persons.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and modified to include the following (which shall be in addition to the information previously included in the Schedule 13D): This Amendment reports: (a) the sale by Mubbadrah in open market transactions from November 5, 2025 through January 22, 2026, of 867,478 Ordinary shares of the Issuer as described on Schedule A; and (b) the date on which the Reporting Persons ceased to be the beneficial owner of more than five percent of the Ordinary Shares of the Issuer.
Item 5.	Interest in Securities of the Issuer
(a)	The information set forth on rows 11 and 13 of the cover pages of this Schedule 13D/A is incorporated by reference. The percentage set forth in row 13 is based upon a total of 100,777,759 Ordinary Shares, no par value, of National Energy Services Reunited Corp., outstanding as of September 30, 2025, as reported by the Issuer in its Form 6-K filed with the Securities and Exchange Commission on November 13, 2025, the last public disclosure by the Issuer of the outstanding Ordinary Shares of the Issuer.
(b)	The information set forth in rows 7 through 10 of the cover pages to this Schedule 13D/A is incorporated by reference.
(c)	This Amendment reports: (a) the sale by Mubbadrah in open market transactions from November 5, 2025 through January 22, 2026, of 867,478 ordinary shares of the Issuer as described on Schedule A.
(d)	No person (other than the Reporting Persons) is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Ordinary Shares subject to this Schedule 13D/A.
(e)	Not applicable.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Mubbadrah Investment LLC

Signature:	/s/ Hilal Al Busaidi
Name/Title:	Hilal Al Busaidi
Date:	02/12/2026

Signature:	/s/ Yasser Al Barami
Name/Title:	Yasser Al Barami
Date:	02/12/2026

Wild Investment LLC

Signature:	/s/ Yasser Al Barami
Name/Title:	Yasser Al Barami
Date:	02/12/2026

Myrad Investment LLC

Signature:	/s/ Hilal Al Busaidi
Name/Title:	Hilal Al Busaidi
Date:	02/12/2026

Yasser Al Barami

Signature:	/s/ Yasser Al Barami
Name/Title:	YASSER AL BARAMI
Date:	02/12/2026

Hilal Al Busaidi

Signature:	/s/ Hilal Al Busaidi
Name/Title:	HILAL AL BUSAIDI
Date:	02/12/2026