Mr. Pat Powell reports

CALFRAC ANNOUNCES VOTING RESULTS OF ELECTION OF DIRECTORS AND ADDITION OF NEW BOARD MEMBER

Calfrac Well Services Ltd. has released the voting results of the election of directors at its annual and special meeting of shareholders held today. Each of the nominees proposed as a director, including new nominee Holly A. Benson, was elected as a director to hold office until the next annual meeting of shareholders, or until a successor is elected or appointed. Detailed results of the voting for each nominee are set out herein, and the full results on all matters voted upon at the meeting will be filed on Calfrac's profile on SEDAR.

"On behalf of the management team and board of directors, I am very pleased to welcome Holly to Calfrac," said Ronald P. Mathison, chairman.

He added, "Holly's financial expertise and business experience will add considerable value to the board of directors as we continue to execute on our strategic priorities."

Ms. Benson is an independent businessperson with a chartered public accountant designation and the former vice-president, finance, and chief financial officer of Peters & Co. Ltd., a registered investment dealer, from 1999 to 2020. Mrs. Benson has her ICD.D designation from the Institute of Corporate Directors, currently serves as a director of Rubellite Energy Inc., a public crude oil exploration and development company, and has served on various industry committees and boards, including as a director of the Investment Industry Regulatory Organization of Canada (IIROC) from 2015 to 2021.

Nominee                     Votes for          Votes against    

                         Number        %      Number        %   

Ronald P. Mathison   53,671,939   88.75%   6,802,620   11.25%
Douglas R. Ramsay    54,045,992   89.37%   6,428,567   10.63%
George S. Armoyan    52,284,784   86.46%   8,189,775   13.54%
Anuroop Duggal       52,600,469   86.98%   7,874,090   13.02%
Charles Pellerin     59,280,588   98.03%   1,193,971    1.97% 
Pat Powell           55,141,043   91.18%   5,333,516    8.82% 
Chetan Mehta         60,411,927   99.90%      62,632    0.10% 
Holly A. Benson      59,036,558   97.62%   1,438,001    2.38% 

Calfrac's common shares and warrants are publicly traded on the Toronto Stock Exchange under the trading symbols CFW and CFW.WT, respectively. Calfrac provides specialized oil field services to exploration and production companies designed to increase the production of hydrocarbons from wells with continuing operations in throughout Western Canada, the United States and Argentina.