ProPetro Announces Next Steps in Planned Executive Leadership Transition

ProPetro Holding Corp. (“ProPetro” or “the Company”) (NYSE: PUMP) today announced the further transition for certain key roles within its executive leadership team that will be effective August 31,2021. This includes:

• The transition of Phillip Gobe, the Company’s Chairman and Chief Executive Officer, to Executive Chairman;
• The promotion of Sam Sledge, the Company’s President, to Chief Executive Officer and his appointment to ProPetro’s Board of Directors.; and
• The expansion of Adam Muñoz’s leadership position from Chief Operating Officer to President and Chief Operating Officer.

“Today’s announcement marks the culmination of our Board of Directors’ comprehensive succession planning process for the orderly transition of ProPetro’s executive leadership team,” said Phillip Gobe. “Both Sam and Adam are well-deserving of their expanded leadership roles, with each spending the last ten or more years at the Company during which time they have developed a deep knowledge of the business and our unique culture of teamwork. I, along with the full Board, look forward to supporting them and the rest of our talented leadership team and organization as they focus on the stewardship of the business, while remaining squarely focused on the needs of our customers and shareholders.”

Sam Sledge commented, “I appreciate the continued confidence of the Board and want to thank Phillip for his strategic leadership over the past two years. His steady guidance was crucial during our leadership transition and one of the most difficult periods in the history of the oil and gas industry due to impacts associated with the global COVID-19 pandemic. Our full leadership team will continue to work closely with Phillip and the Board to identify opportunities that promote the long-term success of our Company. As in the past, our future focus will remain on providing our customers with excellent service quality that is backed by a differentiated team and culture. We will continue to prioritize capital discipline as we target investments in new equipment with better technology that we believe will drive incremental and more consistent free cash flow generation and reduce the impact of our operations on the environment.”