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SECURE announces Preliminary Results of its Substantial Issuer Bid

Press Release

CALGARY, AB, June 6, 2024– SECURE Energy Services Inc. (“SECURE”) (TSX: SES) announced today the preliminary results of its substantial issuer bid (the “Offer”), pursuant to which SECURE offered to purchase for cancellation up to $250 million of its outstanding common shares (the “Shares”) from holders of Shares (the “Shareholders”) for cash. The Offer expired at 5:00 p.m. (Eastern time) on June 5, 2024.

In accordance with the terms and conditions of the Offer and based on the preliminary count by Odyssey Trust Company, as depositary for the Offer (the “Depositary”), SECURE expects to take up and pay for approximately 21,929,819 Shares at a price of $11.40 per Share under the Offer (the “Purchase Price”), representing an aggregate purchase amount of approximately $250 million and 8.33% of SECURE’s issued and outstanding Shares before giving effect to the Offer. Immediately following completion of the Offer, SECURE expects to have 241,178,566 Shares issued and outstanding.

Approximately 40,507,847 Shares were validly tendered and not withdrawn pursuant to the Offer. Since the Offer was oversubscribed, Shareholders who made auction tenders at the Purchase Price and Shareholders who made, or were deemed to have made, purchase price tenders will have the number of Shares purchased prorated following the determination of the final results of the Offer (other than “odd lot” tenders, which are not subject to proration). SECURE currently expects that Shareholders who made auction tenders at the Purchase Price and Shareholders who made, or were deemed to have made, purchase price tenders will have approximately 81.9% of their tendered Shares purchased by SECURE. Shareholders who made auction tenders at a price in excess of the Purchase Price should not expect to have any of their Shares purchased by SECURE.

Payment and settlement of the Shares purchased pursuant to the Offer will be effected by the Depositary in accordance with the settlement procedures described in the Offer Documents (as defined below) and applicable law.

The number of Shares validly tendered and not withdrawn, the number of Shares expected to be purchased, the proration factor and the Purchase Price referred to above are all preliminary and subject to verification by the Depositary as well as the proper delivery of all Shares tendered (including Shares tendered pursuant to guaranteed delivery procedures). Upon take up and payment of the Shares purchased, SECURE will issue a press release disclosing the final results.

The full details of the Offer are described in the offer to purchase and issuer bid circular dated April 29, 2024, as well as the related letter of transmittal and notice of guaranteed delivery (the “Offer Documents”), copies of which were filed and are available under SECURE’s profile on SEDAR+ at www.sedarplus.com.

This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Shares.

ABOUT SECURE

SECURE is a leading waste management and energy infrastructure business headquartered in Calgary, Alberta. SECURE’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, SECURE 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 SECURE 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 Shares trade under the symbol “SES” and are listed on the TSX. For more information, visit www.SECURE-energy.com.

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

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