SECURE announces $300 Million Senior Unsecured Note Financing

Press Release

CALGARY, AB, March 19, 2024 – SECURE Energy Services Inc. (“SECURE”) (TSX: SES), announced today that it has entered into an underwriting agreement to sell, pursuant to a private placement (the “Offering”), $300 million aggregate principal amount of 6.75% senior unsecured notes due March 22, 2029 (the “Notes”).

The Offering is being underwritten by BMO Capital Markets and National Bank Financial Markets as joint bookrunners, ATB Securities Inc. as co-lead manager, and CIBC World Markets Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Scotia Capital Inc., and RBC Dominion Securities Inc. as co-managers.

SECURE intends to use the net proceeds of the Offering, together with cash on hand, to fund the previously announced redemption of $340 million in aggregate principal amount of 7.25% senior unsecured notes of SECURE due 2026 (the “2026 Notes”) representing all of the outstanding 2026 Notes, at a redemption price of 103.625%, plus accrued and unpaid interest to, but not including, the redemption date of March 22, 2024.

The Notes are being conditionally offered for sale in Canada on a private placement basis pursuant to certain prospectus exemptions. The Notes have not been registered under the U.S. Securities Act, or any state securities laws, and are being offered and sold in the United States only to qualified institutional buyers in reliance on Rule 144A under the U.S. Securities Act and applicable state securities laws and outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

About SECURE

SECURE is a leading waste management and energy infrastructure business headquartered in Calgary, Alberta. The Corporation’s extensive infrastructure network located throughout western Canada and North Dakota includes waste processing and transfer facilities, industrial landfills, metal recycling facilities, crude oil and water gathering pipelines, crude oil terminals and storage facilities. Through this infrastructure network, the Corporation carries out its principal business operations, including the processing, recovery, recycling and disposal of waste streams generated by our energy and industrial customers and gathering, optimization, terminalling and storage of crude oil and natural gas liquids. The solutions the Corporation provides are designed not only to help reduce costs, but also lower emissions, increase safety, manage water, recycle by-products and protect the environment.

SECURE’s common shares trade under the symbol SES and are listed on the Toronto Stock Exchange. For more information, visit www.SECURE-energy.com.

For further information: Rene Amirault, Chief Executive Officer; Allen Gransch, President; Chad Magus, Chief Financial Officer, Phone: (403) 984-6100, Fax: (403) 984-6101, Email: ir@secure-energy.com, Website: www.SECURE-energy.com

IBF4