Early Warning News Release Disposition of SECURE Energy Services Inc. Common Shares by Angelo, Gordon & Co., L.P.

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NEW YORK, April 29, 2024 (GLOBE NEWSWIRE) -- Angelo, Gordon & Co., L.P. (“TPG Angelo Gordon”) announces today that, pursuant to a share purchase agreement (the “Purchase Agreement”) between AG International Investment Opportunities Platform Fund I DAC (the “Selling Shareholder”), an affiliate of TPG Angelo Gordon, certain investment funds managed by and/or affiliated with TPG Angelo Gordon (collectively with the Selling Shareholder, the “AG Funds”) and SECURE Energy Services Inc. (the “Issuer”), the Issuer repurchased from the Selling Shareholder for cancellation an aggregate of 13,181,020 common shares (“Shares”) of the Issuer at a price of $11.38 per Share, for gross proceeds of $150,000,007.60 (the “Share Repurchase Transaction”). For further information regarding the Share Repurchase Transaction, please refer to the Issuer’s press release issued today.

Immediately before the Share Repurchase Transaction, TPG Angelo Gordon, for and on behalf of the AG Funds, had control or direction over 52,529,667 Shares, representing a securityholding percentage of approximately 19.01% of the issued and outstanding Shares.

Immediately after the Share Repurchase Transaction, TPG Angelo Gordon, for and on behalf of the AG Funds, had control or direction over 39,348,647 Shares, representing a securityholding percentage of approximately 14.96% of the issued and outstanding Shares. TPG Angelo Gordon, for and on behalf of the AG Funds, ceased to have control or direction over the Shares purchased by the Issuer pursuant to the Purchase Agreement.

The Selling Shareholder disposed of the Shares in the ordinary course of its business operations. TPG Angelo Gordon, together with its joint actors, has control or direction over, and the AG Funds have beneficial ownership of, the Shares in the ordinary course of business, for investment purposes only and not with the purpose of influencing the control or direction of the Issuer. TPG Angelo Gordon, for and on behalf of the AG Funds, may, depending on market and other conditions, or as further circumstances may dictate, subject to certain restrictions contained in the Purchase Agreement and described in the early warning report (“EWR”) to be filed by TPG Angelo Gordon in connection with this news release, from time to time, on an individual or joint basis, increase or decrease their beneficial ownership, control or direction over the Shares through market transactions, private agreements, treasury issuances, options, other convertible securities or otherwise. Except as described herein, TPG Angelo Gordon currently has no other plans or intentions that relate to, or would result in, the matters listed in Item 5 of the EWR. Depending on market conditions, general economic and industry conditions, the Issuer’s business and financial condition and/or other relevant factors, TPG Angelo Gordon may develop such plans or intentions in the future.

The EWR will be filed by TPG Angelo Gordon under applicable Canadian securities laws and will be available under the Issuer's SEDAR+ profile at www.sedarplus.ca. A copy of the EWR may also be obtained by contacting the media contact set out below. The Issuer’s head office is located at 2300, 225 6th Avenue SW, Calgary, Alberta, Canada T2P 1N2.

Angelo, Gordon & Co., L.P.
245 Park Avenue, 26th Floor
New York, NY 10167
USA

Media Contact
Telephone: 212-692-8266, Email: media@tpg.com


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