Company Announcements

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION ON TO UNITED STATES NEWSWIRE SERVICES/

(All financial figures are in Canadian dollars unless otherwise noted)

CALGARY, AB , March 19, 2024 /CNW/ - 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.

Certain statements contained in this press release constitute "forward-looking statements" and/or "forward-looking information" within the meaning of applicable securities laws (collectively referred to as "forward-looking statements"). When used in this press release, the words "achieve", "anticipate", "expect", "intend" and "will", and similar expressions, as they relate to SECURE are intended to identify forward-looking statements. Such statements reflect the current views of SECURE with respect to future events and operating performance and speak only as of the date of this press release.

In particular, this press release contains or implies forward-looking statements pertaining to: the size and terms of the Offering, the use of proceeds of the Offering, the timing and successful completion of the Offering, and the redemption of certain indebtedness (including the timing of such redemption).

Forward-looking statements involve significant known and unknown risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. Readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the results discussed in these forward-looking statements, including but not limited to those factors referred to under the heading "Risk Factors" in SECURE's Annual Information Form for the year ended December 31, 2023, which is available on SEDAR+ at www.sedarplus.ca.

Although forward-looking statements contained in this press release are based upon what SECURE believes are reasonable assumptions, SECURE cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements in this press release are expressly qualified by this cautionary statement. Unless otherwise required by law, SECURE does not intend, or assume any obligation, to update these forward-looking statements.

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.

SOURCE SECURE Energy Services Inc.