Legal

As visitors access this website on a server in Alberta, Canada, the information contained in this website is deemed to be provided in Alberta and is subject to Alberta law and the laws of Canada applicable therein.

If you access this website from outside of Canada, you do so at your own risk and are responsible for compliance with local, national or international laws including, without limitation, securities laws and import and export laws. No warranty of any kind, implied, expressed or statutory, is given in conjunction with the information contained on this website.

All material on this website is protected by copyright. The material may be used and copied for non-commercial, personal or educational purposes or for any other purpose allowed by applicable law, provided that all information used is not modified. Any other use of this material without Calfrac’s written permission is prohibited. Except as otherwise noted, the logos, icons, graphics, designs, names, trade names, trademarks and service marks displayed on this website belong to Calfrac or other third parties and may not be used without Calfrac’s written permission.

This website does not constitute and should not be construed as an offer to sell or a solicitation of an offer to buy securities in any jurisdiction. The material on this website is not intended to modify, qualify, supplement or update information disclosed under corporate and securities legislation of any jurisdiction applicable to Calfrac and should not be used for the purpose of making investment decisions concerning Calfrac’s securities. Printed copies of public disclosure documents may be requested from Investor Relations at (403) 266-6000.

Calfrac provides links to third party websites for convenience only and the inclusion of these links does not imply that Calfrac monitors, endorses or is responsible for the content and information on these websites. Accordingly, their use is at your own risk.

Due to technical difficulties typically found with the Internet, Internet software or transmission problems could produce inaccurate or incomplete copies of material contained on this website when displayed or downloaded onto your computer. Computer viruses or other destructive programs may also be inadvertently downloaded from this website. Calfrac disclaims liability for any Internet software, computer viruses or destructive programs that may be downloaded from this website and recommends that you install appropriate anti-virus or other protective software.

Although Calfrac periodically updates this website with material believed to be accurate at the time of posting, Calfrac cannot guarantee the accuracy, completeness, timeliness or currency of the material and assumes no responsibility to update the information contained on this website. Consequently, Calfrac expressly disclaims any liability for errors or omissions in the material contained on this website. Calfrac shall not be liable for any claims, expenses, loss of profits or damages (including, without limitation, direct, indirect, special, moral, incidental or consequential damages) arising from this website including, but not limited to:

• the use of or reliance on material contained on or obtained through this website;
• any inaccuracy or omission in such material;
• use of any third-party websites linked to this website;
• any Internet software or software algorithms used in connection with this website or computer viruses or other destructive programs encountered as a result of using this website;
• inability to use this website due to interruption, delay in operation or transmission, defect, computer virus, line or system failure, or any other reason; and
• any other matter connected with this website, even if Calfrac is made aware of the possibility of such claims, expenses, damages, costs or losses.

This website may contain forward-looking statements and information within the meaning of applicable securities laws. The use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions are intended to identify forward-looking statements or information.

These forward-looking statements and information are based on certain key expectations and assumptions made by Calfrac in light of its experience and perception of historical trends, current conditions,  expected future developments as well as other factors it believes are appropriate in the circumstances, including, but not limited to, the following: the economic and political environment in which Calfrac operates including the current state and anticipated length of the pressure pumping market upcycle; Calfrac’s expectations for its customers’ capital budgets, demand for services, engine technology preferences and geographical areas of focus; the effect of environmental factors on customer and investor preferences and capital deployment; the effect of the military conflict and related international sanctions and counter-sanctions and restrictions on the Company’s ownership; industry equipment levels including the number of active fracturing fleets marketed by the Company’s competitors and the timing of deployment of the Company’s fleet upgrades; Calfrac’s existing contracts and the status of current negotiations with key customers and suppliers; the continued effectiveness of cost reduction measures instituted by Calfrac; and the likelihood that the current tax and regulatory regime will remain substantially unchanged.

Forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from the Company’s expectations. Such risk factors include but are not limited to: (A) industry risks, including but not limited to, global economic conditions and the level of exploration, development and production for oil and natural gas in North America and Argentina; excess equipment levels; impacts of conservation measures and technological advances on the demand for the Company’s services; hazards inherent in the industry; activism; and an intensely competitive oilfield services industry; (B) business operations risks, including but not limited to, fleet reinvestment risk, including the ability of the Company to finance the capital necessary for equipment upgrades to support its operational needs while meeting government and customer requirements and preferences; difficulty retaining, replacing or adding personnel; failure to improve and adapt equipment, proprietary fluid chemistries and other products and services; reliance on equipment suppliers and fabricators for timely delivery and quality of equipment; a concentrated customer base; seasonal volatility and climate change; and cybersecurity risks; (C) financial risks, including but not limited to, diesel fuel and component parts; restrictions on the Company’s access to capital, including the impacts of covenants under the Company’s lending documents; direct and indirect exposure to volatile credit markets, including interest rate risk; fluctuations in currency exchange rates and increased inflation; price escalation and availability of raw materials; actual results which are materially different from management estimates and assumptions; insufficient internal controls; and possible impacts on the Company’s access to capital and common share price given a significant number of common shares are controlled by two directors of the Company; (D) geopolitical risks, including but not limited to, foreign operations exposure, including risks relating to unsettled political conditions, war, foreign exchange rates and controls, and international trade and regulatory controls and sanctions; the impacts of a delay of sale or failure to sell the Company’s discontinued operations, including failure to receive any applicable regulatory approvals and reputational risks; foreign legal actions and unknown consequences of such actions; and risk associated with compliance with applicable law; (E) legal and regulatory risks, including but not limited to, federal, provincial and state legislative and regulatory initiatives; health, safety and environmental laws and regulations; and legal and administrative proceedings; and (F) environmental, social and governance risks, including but not limited to, failure to effectively and timely address the energy transition; legal and regulatory initiatives to limit greenhouse gas emissions; and the direct and indirect costs of various existing and proposed climate change regulations.

Consequently, all of the forward-looking statements and information on this website are qualified by these cautionary statements and there can be no assurance that actual results or developments anticipated by the Company will be realized, or that they will have the expected consequences or effects on the Company or its business or operations.  Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive. Additional information on these and other risk factors that could affect Calfrac’s operations or financial results are included in Calfrac’s most recently filed Annual Information Form under the heading “Risk Factors” which is available on the SEDAR+ website at www.sedarplus.ca.  Calfrac assumes no  obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.