Mr. Mike Olinek reports

CALFRAC WELL SERVICES LTD. ANNOUNCES APPOINTMENT OF CHIEF EXECUTIVE OFFICER

Calfrac Well Services Ltd. has appointed Tyler Dahlseide as chief executive officer (CEO) effective Feb. 4, 2026.

Mr. Dahlseide, who joined Calfrac as vice-president, optimization and strategy, in September, 2025, is an accomplished senior executive with a proven record in the oil field services industry. Most recently, he served as president and a director of Ferus Inc., a private-equity sponsored industrial gas business with operations in Canada and the United States. Mr. Dahlseide also served as chairman of the board of Enserva, the national trade association representing Canada's petroleum services, supply and manufacturing sectors, from 2023 to 2025.

Chairman Ron Mathison commented: "The board of directors is very pleased to appoint Tyler as CEO. He is a talented, motivated leader, and we believe his considerable experience at stewarding growth and organizational transformation will be key to Calfrac executing its strategy moving forward."

Mr. Dahlseide, added, "I am grateful for the opportunity to lead this respected and storied energy services business, and I look forward to working with the entire Calfrac team to unlock value for the company's shareholders."

Calfrac's common shares are publicly traded on the Toronto Stock Exchange under the trading symbol CFW.

Calfrac provides specialized oil field services to exploration and production companies designed to increase the production of hydrocarbons from wells drilled throughout North America and Argentina.