Mr. Rene Amirault reports

SECURE ENERGY REVIEWING DECISION OF FEDERAL COURT OF APPEAL REGARDING ITS MERGER WITH TERVITA

The Federal Court of Appeal (FCA) has dismissed Secure Energy Services Inc.'s appeal of the March 3, 2023, decision of the Competition Tribunal regarding its merger with Tervita Corp., ordering Secure to divest 29 facilities. Secure respectfully disagrees with the outcome and is carefully considering the decision and reviewing its options with respect to a potential appeal to the Supreme Court of Canada, including a motion for a stay of the tribunal's order.

The FCA's decision, upholding the tribunal's order to divest the facilities, could have a material impact on the business, financial condition or results of operations of the corporation. If such decision is not overturned or modified on appeal, Secure is prepared to execute a competitive sale process for these attractive and valuable assets and would expect to receive sale proceeds relating to such divestitures which could mitigate, in whole or in part, any such impact.

Rene Amirault, chief executive officer of Secure, stated: "Although we are disappointed with the outcome, we thank the Federal Court of Appeal for their work in rendering their decision. We continue to believe that the merger of Secure and Tervita has and will continue to enable Secure to better serve our customers, pursue our ESG [environmental, social and governance] objectives, and continue to achieve significant efficiencies in our operations."

About Secure Energy Services Inc.

Secure is a leading environmental and energy infrastructure business headquartered in Calgary, Alta. 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 its energy and industrial customers, and gathering, optimizing, terminalling and storing 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 byproducts and protect the environment.

We seek Safe Harbor.