The Toronto Stock Exchange reports that Calfrac Well Services Ltd. will issue one right per share held as of the close on Nov. 21, 2025. According to the TSX, each right will entitle the holder to purchase 0.1514872 of a common share of the company at a subscription price of $2.69 per share, subject to the terms and conditions set in the rights offering circular and rights offering notice dated Nov. 24, 2025. As a result, approximately 6.6 rights are required to subscribe for one whole share. The designated market-maker is Virtu Canada Corp.

The TSX reports that the rights will begin trading at the open on Nov. 21, 2025, under the symbol CFW.RT and with Cusip No. 129584 12 4. At the same time, the shares will trade ex rights. Trading of the rights will end at 12 p.m. Toronto time on Dec. 19, 2025, and the rights will expire 5 p.m. Toronto time and will be delisted at the close on Dec. 19, 2025. Trades from the open to 12 p.m. Toronto time on Dec. 19, 2025, will settle on the same day.

According to the TSX, the company will not issue fractional shares upon the exercise of rights. Where any exercise of rights would otherwise entitle a holder of rights to receive fractional shares, the holder's entitlement will be reduced and rounded down to the next lowest whole number of shares, and the fraction shall be cancelled without any repayment of capital or other consideration therefor.