About ProFrac Holding Corp.
ProFrac Holding Corp. is a growth-oriented, vertically integrated and innovation-driven energy services company providing hydraulic fracturing, completion
services and other complementary products and services to leading upstream oil and gas companies engaged in the exploration and production (E&P) of North American unconventional oil and natural gas resources. Founded in 2016, ProFrac
was built to be the go-to service provider for E&P companies most demanding hydraulic fracturing needs. ProFrac is focused on employing new technologies to significantly reduce greenhouse
gas emissions and increase efficiency in what has historically been an emissions-intensive component of the unconventional E&P development process. For more information, please visit the ProFracs website at www.pfholdingscorp.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements included in this press release may contain forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements are accompanied by words such as may, should, would, continue, expect,
intend, will, estimate, anticipate, believe, predict, plan, future, outlook, or similar expressions that predict or indicate future events or
trends that are not statements of historical fact, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relate to future events or the Companys future financial or operating
performance. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of ProFracs management and are not predictions of actual performance. These forward-looking
statements include, among other things, statements regarding: the Companys strategies and plans for growth; the Companys positioning, resources, capabilities, and expectations for future performance; market and industry expectations; the
Companys potential acquisition of U.S. Well Services, Inc.; the Companys estimates with respect to the profitability and utilization of its fleets; expectations regarding near-term and long-term growth, and the attendant impact on the
Companys future revenues, margins, free cash flow and through-cycle positioning; the potential to return cash to shareholders; any financial or other information based upon or otherwise incorporating judgments or estimates relating to future
performance, events or expectations; any estimates and forecasts of financial and other performance metrics; and the Companys outlook and financial and other guidance. Such forward-looking statements are based upon assumptions made by the
Companys management as of the date hereof and are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking
statements are provided for illustrative purposes only, and are not intended to serve as, and must not be relied on by any investor as, a guarantee, a prediction or a definitive statement of fact or probability. Actual events and circumstances are
difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of ProFrac. Factors that may cause actual results to differ materially from current expectations include, but are not
limited to, the Companys ability to achieve anticipated benefits of the transactions, including risks related to integrating Monahans and its personnel; the Option is presently uncommitted and there is no assurance that the Company will find
any lenders willing to participate in the Option; there can be no assurance that the Company will be able to find any lenders to participate in the Incremental Facility; the Companys ability to deploy capital and the proceeds of the loans in a
manner that furthers the Companys growth strategy, as well as the Companys general ability to execute its business plans; the Companys ability to complete the acquisition of U.S. Well Services, Inc., which is subject to the
satisfaction of closing conditions; if completed, the ability of the Company to achieve the anticipated benefits of the U.S. Well Services Inc. acquisition without experiencing unexpected costs or other consequences; industry conditions, including
fluctuations in supply, demand and prices for the Companys products and services; global and regional economic and financial conditions; the effectiveness of the Companys risk management strategies the future financial performance of
ProFrac following the transactions; and other risks and uncertainties set forth in the documents of ProFrac filed, or will file, with the Securities and Exchange Commission (SEC), which are available on the SECs website at
www.sec.gov. The foregoing list of risks is not exhaustive.
If any of these risks materialize, or our assumptions prove to be incorrect, actual results
could differ materially from the results implied by these forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that
any of the contemplated results of such forward looking statements will be achieved, including without limitation any expectations about the Companys operational and financial performance or achievements through and including 2022. There may
be additional risks about which the Company is presently unaware or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. The reader should not place
undue reliance on forward-looking statements, which speak only as of the date they are made. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these
forward-looking statements at some point in the future, it expressly disclaims any duty to update these forward-looking statements, except as otherwise required by law. Accordingly, undue reliance should not be placed upon the forward-looking
statements.