Item 8.01 Other Events.

As previously reported, on August 14, 2022, Team, Inc. (the "Company") entered into that certain Equity Purchase Agreement (the "Sale Agreement") with Baker Hughes Holdings LLC, a Delaware limited liability company ("Buyer"), pursuant to which Buyer acquired all of the issued and outstanding equity interests of a wholly-owned subsidiary of the Company, TQ Acquisition, Inc., a Texas corporation (the "Transaction"). On November 1, 2022 and in accordance with the Sale Agreement, the Company completed the Transaction. The Transaction was previously disclosed by the Company in its Current Report on Form 8-K filed with the Securities and Exchange Commission on November 7, 2022 and such description is incorporated herein by reference.

The following unaudited pro forma condensed consolidated statement of operations giving effect to the Transaction is filed herewith as Exhibit 99.1:



    •     Unaudited pro forma condensed consolidated statement of operations of the
          Company and its subsidiaries for the fiscal year ended December 31, 2022,
          giving effect to the Transaction as if it had occurred on January 1,
          2022.

Item 9.01 Financial Statements and Exhibits




(d)  Exhibits.

Exhibit number         Description

99.1                     Unaudited Pro Forma Condensed Consolidated Statement of
                       Operations of the Company for the Year Ended December 31,
                       2022, giving effect to the Transaction as if it had occurred
                       on January 1, 2022.

104                    Cover Page Interactive Data File (embedded within the inline
                       XBRL document).

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