Mr. Garnet Amundson reports

INDEPENDENT PROXY ADVISORY FIRM ISS RECOMMENDS SHAREHOLDERS VOTE FOR THE ACQUISITION OF ESSENTIAL ENERGY SERVICES BY ELEMENT TECHNICAL SERVICES

Essential Energy Services Ltd. has received a positive recommendation from Institutional Shareholder Services (ISS) in support of the proposed acquisition of Essential by Element Technical Services Inc., announced on Sept. 15, 2023. ISS is a leading independent, third party proxy advisory firm which provides proxy voting recommendations to pension funds, investment managers, mutual funds and other institutional shareholders.

In making its recommendation, ISS commented: "Vote for this resolution. Even though the cash offer provides a modest 9.6-per-cent premium to the unaffected price, it stands just below the 12-month trading high, and provides both certain and immediate value."

The special meeting of Essential shareholders to approve the acquisition will be held on Nov. 7, 2023, at the Calgary Petroleum Club, Viking Room, 319 5th Ave. SW, Calgary, Alta., at 10:30 a.m. (Calgary time).

For further information regarding the acquisition, readers are strongly encouraged to review Essential's news releases dated Sept. 15, 2023, and Oct. 5, 2023, all of which are available under Essential's profile on SEDAR+.

Essential shareholders requiring assistance may contact Odyssey Trust Company, the company's proxy solicitation and information agent:

Phone:  1-587-885-0960

Toll-free North America:  1-888-290-1175

E-mail:  proxy@odysseytrust.com

Or Essential:

Phone:  403-513-7272

E-mail:  service@essentialenergy.ca

About Essential Energy Services Ltd.

Essential provides oil field services to oil and natural gas producers, primarily in Western Canada. Essential offers completion, production and well site restoration services to a diverse customer base. Services are offered with coiled tubing, fluid and nitrogen pumping, and the sale and rental of downhole tools and equipment. Essential offers one of the largest active coiled tubing fleets in Canada.

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