Source Energy Services Reports 2021 AGM Voting Results

Calgary, Alberta (May 7, 2021) TSX: SHLE

Source Energy Services Ltd. (“Source” or the “Company”) reports results from its annual meeting of shareholders held May 7, 2021 (the “Meeting”). An aggregate of 8,719,303 Common Shares (being 64.37% of the shares eligible to be voted at the Meeting) were represented at the Meeting.

2021 AGM VOTING RESULTS

Election of Directors

All of the proposed nominees were elected to Source’s board of directors (the “Board”) by Shareholders present or represented by proxy at the Meeting. The voting results are as follows:

Shareholder Approval of Other Matters

Shareholders also voted at the Meeting to approve each of the other resolutions described in Source’s management information circular dated March 18, 2021, as follows: (i) the ordinary resolution to fix the number of directors to be elected at the meeting at seven (7) was approved by 100% of the votes cast by Shareholders; (ii) the ordinary resolution approving the appointment of PricewaterhouseCoopers LLP as the auditor of the Company was approved by 100% of the votes cast by Shareholders; (iii) the ordinary resolution approving the 2021 Long Term Incentive Plan was approved by 72.12% of the votes cast by Shareholders; and (iv) the ordinary resolution approving the 2021 Stock Option Plan was approved by 98.42% of the votes cast by Shareholders.

ABOUT SOURCE ENERGY SERVICES

Source is a logistics company that focuses on the supply and distribution of high quality Northern White frac sand. Source provides its customers with a full end-to-end solution supported by its Wisconsin mines and processing facilities, its Western Canadian terminal network and its “last mile” logistics capabilities. In addition to its industry leading frac sand transload terminal network and in-basin frac sand storage capabilities, Source also provides storage and logistics services for other bulk oil and gas well completion materials that are not produced by Source. Source has also developed Sahara, a proprietary wellsite mobile sand storage and handling system.

Source’s full-service approach allows customers to rely on its logistics capabilities to increase reliability of supply and to ensure the timely delivery of their requirements for frac sand and other bulk completion materials at the wellsite.