Canadian Energy Services & Technology Corp. Announces Proposed Offering of $300 Million Senior Unsecured Notes and Tender Offer for Existing 7.375% Notes - Seite 2

The Tender Offer is not being made in the United States or to, or for the account or benefit of, "U.S. holders" (as defined in the cross-border exemptions of the United States Securities Act of 1933, as amended (the "Securities Act"), and the United States Securities Exchange Act of 1934, as amended). Holders of 7.375% Notes with addresses in the United States or who are U.S. holders are excluded from, and are not eligible to participate in or tender their 7.375% Notes in the Tender Offer. Any tenders of 7.375% Notes from the United States or from, or for the account or benefit of, Holders of 7.375% Notes with addresses in the United States or who are U.S. holders will not be accepted in the Tender Offer and no payments of the Tender Offer consideration will be made into the United States or to, or for the account or benefit of, such Holders.

The Tender Offer will expire at 12:00 p.m., Toronto time, on March 24, 2017, unless extended (such date and time, as the same may be extended, the "Expiration Time"). Holders who tender (and do not withdraw) their 7.375% Notes on or prior to the Expiration Time will receive $1,042.00 for each $1,000 principal amount of 7.375% Notes accepted for purchase. Accrued and unpaid interest, up to, but not including, the payment date, which is expected to be March 28, 2017, will be paid in cash on all tendered 7.375% Notes accepted by CES for purchase in the Tender Offer. 7.375% Notes tendered may not be withdrawn on or following the Expiration Time except as may be required by law.

Following completion of the Offering and the Tender Offer, CES intends to redeem, in accordance with the terms of the trust indenture governing the 7.375% Notes, all of the 7.375% Notes which are not tendered to the Tender Offer prior to the Expiration Time (the "Redemption").

CES has retained Scotia Capital Inc. to act as Dealer Manager in connection with the Tender Offer. Copies of the Offer to Purchase and the related Letter of Transmittal may be obtained from Kingsdale Advisors, the Depositary and Information Agent for the Tender Offer, by phone at [phone] or by email at [e-mail]. Questions regarding the Tender Offer may be directed to the Depositary and Information Agent at this phone number. Questions regarding the Tender Offer may also be directed to the Dealer Manager at [phone] attention Michael Lay.