News Releases

CALGARY, Alberta, April 28, 2020 (GLOBE NEWSWIRE) -- STEP Energy Services Ltd. (the “Company” or “STEP”) announced today that at the 2020 annual general and special meeting of shareholders (the “Meeting”) scheduled to take place on Thursday, May 7, 2020 will now be held at 3:30 p.m. (MDT) at the head offices of the Company at Bow Valley Square II, 1200, 205-5th Avenue SW, Calgary, Alberta T2P 2V7, and will be available via audio webinar.

Interested analysts, investors and media representatives are invited to register to participate in the audio webinar. Once registered, you will receive a webinar link as well instructions detailing audio options. The link to register for the call is on the Investors Annual Meeting page of our website and as follows:

Link to register for STEP Meeting

The audio webinar will be recorded and available for playback after the Meeting through STEP’s website at www.stepenergyservices.com. Voting results for each of the resolutions to be considered by shareholders will be announced after the Meeting and reported on SEDAR.

Due to the unprecedented public health impact of the COVID-19 pandemic (“COVID-19”), we have asked the Company’s auditors as well as the directors and officers not to attend the Meeting, except as required to establish quorum for the Meeting. Shareholders and proxyholders may attend and vote in person; however, shareholders are strongly encouraged to listen via audio webinar and submit their proxies well in advance of the deadline indicated on their proxy or voting instruction form. The deadline for returning proxies is 3:30 p.m. mountain daylight time on May 5, 2020. As of the date of this press release, the proxies necessary for all business to pass at the Meeting have already been received.

Given the need for risk management in respect of the COVID-19 virus, any shareholders wishing to attend the Meeting will be asked a series of health related questions prior to being admitted. Depending on the responses to the questions posed, the attendee may be denied access. Any shareholder displaying symptoms of COVID-19, or with a recent travel history or exposure, should not attend the meeting and will be denied access. Further, the Company, as host of the Meeting, reserves the right to restrict access to the Meeting in order to comply with meeting size restrictions imposed by public health orders and other applicable laws.

Given the exceptional circumstances, there will be no management presentation at this year’s Meeting and there will be no live question and answer session with management. As Shareholder engagement is important to STEP all shareholders will have the opportunity to ask questions by submitting them, along with the control number from their form of proxy or voting instruction form, to investor_relations@step-es.com by 3:30 p.m. mountain daylight time on May 5, 2020. If questions are received, management will make available an audio recording of answers to questions after the Meeting through STEP’s website at www.stepenergyservices.com.

The Canadian Securities Administrators recently announced relief in order to allow public companies to change the date, time or location of annual general meetings should the spread of COVID-19 make it impossible or inadvisable to hold them as previously scheduled. Pursuant to this relief, the Company may notify shareholders of such changes without sending or filing additional proxy materials. To the extent that the Company determines it necessary to further change the location or format of the Meeting in order to hold a virtual only meeting the Company will inform shareholders of such a determination by way of a press release.

We would like to thank our valued shareholders in advance for your continued support and for timely return of their proxies during these uncertain times.

ABOUT STEP

STEP is an oilfield service company that provides stand-alone and fully integrated fracturing, coiled tubing and wireline solutions. Our combination of modern equipment along with our commitment to safety and quality execution has differentiated STEP in plays where wells are deeper, have longer laterals and higher pressures.

Founded in 2011 as a specialized deep capacity coiled tubing company, STEP now provides an integrated solution for deep capacity coiled tubing services and fracturing to exploration and production (“E&P”) companies in Canada and the U.S. Our Canadian integrated services are focused in the Western Canadian Sedimentary Basin (“WCSB”), while in the U.S., our fracturing and coiled tubing services are focused in the Permian and Eagle Ford in Texas, and the Haynesville in Louisiana.

Our four core values; Safety, Trust, Execution and Possibilities inspire our team of professionals to provide differentiated levels of service, with a goal of flawless execution and an unwavering focus on safety.

For more information please contact:

Regan Davis
President & Chief Executive Officer

Michael Kelly
Executive Vice President & Chief Financial OfficerTelephone: 403-457-1772

Email: investor_relations@step-es.com
Web: www.stepenergyservices.com Telephone: 403-457-1772