Mr. Ken Zinger reports

CES ENERGY SOLUTIONS CORP. ANNOUNCES REDEMPTION OF 6.375% SENIOR NOTES DUE 2024

CES Energy Solutions Corp. will redeem all of the corporation's outstanding 6.375 per cent senior notes due Oct. 21, 2024, which have an aggregate principal amount of $288-million, on Nov. 30, 2023.

The notes are redeemable at a redemption price equal to 100 per cent of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the redemption date. Interest on the notes will cease to accrue on and after the redemption date.

CES will redeem the notes by drawing down on its available $250-million Canadian term loan facility, with the balance of approximately $38-million to be drawn from its $450-million syndicated credit facility, which had a net draw of $120.2-million at June 30, 2023. These facilities mature on April 25, 2026, and provide CES with ample liquidity to support its current business requirements and potential future needs.

About CES Energy Solutions Corp.

CES is a leading provider of technically advanced consumable chemical solutions throughout the life cycle of the oil field. This includes solutions at the drill bit, at the point of completion and stimulation, at the wellhead and pumpjack, and finally through to the pipeline and mid-stream market. CES's business model is relatively asset light and requires limited reinvestment capital to grow. As a result, CES has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in North America while generating free cash flow.