SECURE ANNOUNCES 2025 GUIDANCE AND PROVIDES BUSINESS UPDATE

• 2025 Adjusted EBITDA¹ of $510 - $540 million
• Two strategic acquisitions in the metals recycling business, totaling $175 million, expected to close Q1 2025, strengthening our position as a leader in waste management and resource recovery
• 2025 organic growth capital of approximately $75 million related to high-value waste and energy infrastructure projects
• Maximized allowable repurchases under the NCIB that commenced in December 2023
• Renewal of the NCIB for the repurchase of up to approximately 19 million common shares, representing approximately 8% of common shares outstanding

CALGARY, AB, Dec. 16, 2024 /CNW/ - SECURE Energy Services Inc. ("SECURE" or the "Corporation") (TSX: SES), a leading waste management and energy infrastructure company, today announced a business update, along with its financial guidance for 2025. The Corporation remains focused on delivering operational excellence, profitable growth, and value creation for its shareholders.

"Our 2025 outlook underscores the stability of our operations and growth opportunities of our waste management and energy infrastructure operations," said Allen Gransch, President & CEO. "We anticipate generating Adjusted EBITDA in the range of $510 to $540 million, representing a 9% midpoint increase from our 2024 current guidance, or a 12% increase on a pro forma basis after removing the $13 million of Adjusted EBITDA contribution from the facilities sold to Waste Connections on February 1, 2024. This growth reflects continued strong anticipated utilization of our infrastructure, a full year of contributions from assets placed into service in 2024, and planned capital deployment in 2025, including $175 million associated with acquisitions expected to close in the first quarter of 2025, and $75 million for organic growth initiatives.

"The Corporation has executed definitive agreements and received all material regulatory approvals for two acquisitions in the metals recycling business," continued Gransch. "These accretive acquisitions align with SECURE's strategy to advance our position as a leader in waste management and our purpose of Transforming Waste into Value by increasing our scale and processing capabilities, enabling significant synergies with our existing operations. Establishing a new hub for our metal recycling network in the Edmonton market also strengthens our business with the vertical integration of a mega shredder and greater diversification of scrap supply from increased exposure to residential and industrial waste streams.

"The Corporation remains well-positioned to continue delivering industry-leading conversion of Adjusted EBITDA to Discretionary Free Cash Flow¹, supported by low sustaining capital requirements, debt service costs, and current tax expense. Strong cash flow, along with low leverage, provides significant flexibility for enhanced shareholder returns. We are pleased to renew our Normal Course Issuer Bid, offering the option to repurchase up to 8.2% of our outstanding shares in 2025. Additionally, we plan to maintain our annualized dividend of $0.40 per share, representing a 2.4% yield on the current share price."

Key 2025 Financial Guidance

• Adjusted EBITDA: Projected at $510 million to $540 million, reflecting a 9% midpoint increase over our current 2024 guidance of $470 to $490 million, or a 12% increase after removing the $13 million of Adjusted EBITDA contribution from the 29 facilities divested to Waste Connections on February 1, 2024. This growth is driven by higher volumes across the Corporation's waste infrastructure network, contributions from new assets placed into service in 2024, planned 2025 organic projects, and the anticipated completion of two metals acquisitions in the first quarter. Over 70% of the Corporation's expected Adjusted EBITDA in 2025 is expected to correspond to the Waste Management segment.
  
  
• Acquisition Capital: The Corporation has executed definitive agreements and received all required regulatory approvals for the two strategic acquisitions in the metals recycling business, totaling $175 million, with expected closing dates in the first quarter of 2025, pending standard closing conditions.
  
  
• Organic Growth Capital: SECURE has allocated approximately $75 million for organic growth opportunities in 2025, including brownfield expansions and greenfield projects to support our customers in regions where production growth is outpacing available processing and disposal capacity.
  
  
• Sustaining Capital: Expected at approximately $85 million, with the increase from 2024 associated with additional spending for landfill expansions as a result of higher activity, as well as equipment upgrades associated with metals acquisitions.
  
  
• ARO Expenditures: Expected at approximately $15 million, consistent with 2024, to settle abandonment retirement obligations. The Corporation's planned expenditures are in excess of minimum regulatory spend targets, and include capping at two landfills, as well as various remediation, reclamation and well abandonment activities.
  
  
• Current Tax Expense: Projected at approximately $65 million, reflecting partial taxation in 2025 as non-capital loss pools are largely utilized by the end of 2024.
  
  
• Discretionary Free Cash Flow: Projected at $270 million to $300 million, or approximately 55% of Adjusted EBITDA, enabling continued reinvestment and enhanced shareholder returns, including the $0.40 per share annualized dividend, and opportunistic share repurchases through the renewed Normal Course Issuer Bid, while remaining below the Corporation's target leverage ratio of 2.0x – 2.5x Total Debt to EBITDA¹.

1 Non-GAAP financial measure or capital management measure, as applicable. Refer to the "Non-GAAP and other specified financial measures" section of this press release for further information.

Business Update

Metals Recycling Acquisitions

The two strategic acquisitions in our metal recycling business, valued at a combined $175 million, represent an important step in the Corporation's ongoing strategy to grow its critical waste infrastructure network and transform waste and scrap metals into valuable commodities.

Key highlights of the acquisitions include:

• Progresses SECURE's strategy from a full-service energy services company to a specialized waste management and energy infrastructure provider and further enhances our strategic purpose of transforming waste into value. SECURE continues to focus on core business activities, that are centered on the processing, recovery, recycling, and disposal of diverse waste streams, and the efficient operation of our critical infrastructure network.
  
  
• Expands our geographic footprint by establishing a new hub in Edmonton, Alberta, and extending our presence to the Lower Mainland of British Columbia.
  
  
• Diversifies our scrap supply with the expansion of residential and industrial waste.
  
  
• Enhances our processing capabilities with the addition of a mega shredder, driving economies of scale and creating significant synergies and efficiencies within our existing operations.
  
  
• Creates further synergies through improved logistics and transportation efficiencies, leveraging the Corporation's strategic investment in rail cars over the past two years.

Upon completion of the acquisitions, SECURE will operate a network of scrap metal yards spanning British Columbia to Saskatchewan, supported by a vertically integrated feeder network that includes rail services, mining projects, and an industrial bins business. The Corporation remains committed to identifying and executing additional accretive opportunities to densify its network and expand its critical waste infrastructure. 

The acquisitions are expected to be fully funded through existing debt capacity, resulting in an anticipated increase to leverage to approximately 1.5x Total Debt to EBITDA (1.3x excluding leases), which remains well below the Corporation's target range. All material regulatory approvals have been received, and the acquisitions are expected to close in the first quarter of 2025.

2025 Organic Growth Projects 

SECURE's 2025 organic capital investment program is approximately $75 million, comprised of high-value projects providing our customers with reliable and efficient waste and energy infrastructure solutions. Major growth projects are backstopped by commercial agreements providing reliable volumes and recurring cash flows over the life of the contract, ensuring a minimum rate of return on our investments.

Growth projects planned for 2025 include:

• Expanding the processing and disposal capacity of our water infrastructure network in the Alberta Montney region to accommodate growing producer volumes with a new pipeline-connected water disposal facility and expansions of the existing network with the addition of new pipelines and a disposal well. The new facility is expected to be operational in the fourth quarter of 2025, with existing facility expansions in service date targeted for early 2026.
  
  
• Completing the expansion of the Clearwater heavy oil terminal and gathering infrastructure for incremental clean heavy oil delivery, and adding treating capabilities for trucked-in emulsion volumes. Following the expansion, the terminal will have total capacity of 75,000 barrels per day.
  
  
• Reopening a suspended industrial waste processing facility located in Alberta's Industrial Heartland to meet local demand. Capital expenditures are underway and include replacing and upgrading critical infrastructure to increase capacity and allow for broader waste acceptance and treatment, which is expected to occur in the second quarter of 2025.
  
  
• Purchasing incremental rail cars, bringing SECURE's fleet to approximately 200 rail cars, and increasing the efficiency of our metals recycling logistics and distribution operations.
  
  
• Optimizing our waste infrastructure network to debottleneck, increase throughput, achieve cost saving, and drive higher Adjusted EBITDA from same store sales.

The Corporation has a robust pipeline of growth opportunities to add recurring volumes and stable cash flows aligned with our core waste management and infrastructure competencies and intends to provide further details following the expected entering into of agreements with its customers.

Name Change and Corporate Reorganization

As previously announced, the Corporation will be changing its name to SECURE Waste Infrastructure Corp. on January 1, 2025. The Corporation will also concurrently wind up the wholly-owned SECURE Energy partnership into the Corporation, change the name of certain of the Corporation's wholly-owned subsidiaries, and consolidate various non-operating entities. Details of those activities are being communicated to stakeholders directly and will be placed on the Corporation's website, which will also be changing effective January 1, 2025, to www.secure.ca.

Renewal of Normal Course Issuer Bid

SECURE also announced today that the Toronto Stock Exchange ("TSX") has accepted for filing the Corporation's notice of intention to make a normal course issuer bid ("NCIB"). The NCIB effectively renews the Corporation's previous NCIB that expired on December 13, 2024, whereby the Corporation received approval to purchase up to 23,196,967 common shares. As of December 10, 2024, the Corporation had acquired 22,688,510 common shares through market purchases on the TSX and alternative trading platforms at a weighted average price of $11.18 per share, representing approximately 7.9% of the number of common shares outstanding at the time of commencement.

Pursuant to the NCIB, SECURE may repurchase from time to time up to a maximum of 19,367,434 common shares of the Corporation ("common shares"), representing approximately 8.2% of the 235,459,613 common shares outstanding as at December 10, 2024, or 10% of the Corporation's public float. Purchases under the NCIB may be made through open market transactions on the TSX and any alternative Canadian trading platforms on which the common shares are traded, based on the prevailing market price, at such times and in such quantities as the Corporation may determine, subject to applicable regulatory restrictions. Under TSX rules, not more than 155,640 common shares (being 25% of the average daily trading volume on the TSX of 622,562 common shares for the six months ended November 2024) can be purchased on the TSX on any single trading day under the NCIB, except that one block purchase in excess of the daily maximum is permitted per calendar week. Any common shares purchased under the NCIB will be cancelled.

The NCIB period will commence on December 18, 2024, and end on December 17, 2025, or such earlier date as the NCIB is completed or is terminated at the Corporation's election.

Transactions under the NCIB will depend on future market conditions. SECURE retains discretion whether to make purchases under the NCIB, and to determine the timing, amount and acceptable price of any such purchases, subject at all times to applicable TSX and other regulatory requirements.

In connection with the NCIB, the Corporation intends to enter into an automatic share purchase plan ("ASPP") with a designated broker. The ASPP has been pre-cleared by the TSX.

The ASPP is intended to facilitate repurchases of common shares at times under the NCIB when the Corporation would ordinarily not be permitted to make purchases due to regulatory restriction or customary self-imposed blackout periods. Before the commencement of any particular trading black-out period, SECURE may, but is not required to, instruct its designated broker to make purchases of common shares under the NCIB during the ensuing black-out period in accordance with the terms of the ASPP. Such purchases will be determined by the designated broker at its sole discretion based on purchasing parameters set by SECURE in accordance with the rules of the TSX, applicable securities laws and the terms of the ASPP.

The ASPP will terminate on the earliest of the date on which: (a) the maximum annual purchase limit under the NCIB has been reached; (b) the NCIB expires; or (c) SECURE terminates the ASPP in accordance with its terms. The ASPP constitutes an "automatic securities purchase plan" under applicable Canadian securities law.

Outside of pre-determined blackout periods, common shares may be purchased under the NCIB based on management's discretion, in compliance with TSX rules and applicable securities laws. All purchases of common shares made under the ASPP will be included in determining the number of common shares purchased under the NCIB.

The NCIB provides the Corporation with an additional capital allocation alternative to acquire common shares under the appropriate circumstances, with a view to long-term shareholder value. The Board of Directors and senior management believe that, from time to time, the prevailing market price of the common shares may not fully reflect the underlying value of SECURE's business and future business prospects. In such circumstances, the repurchase of common shares under the NCIB represents an attractive investment for the Corporation and an opportunity to enhance shareholder value.

Q1 2025 Dividend Declaration

SECURE's Board of Directors has declared a quarterly dividend of $0.10 per common share payable on or about January 15, 2025, to shareholders of record on January 1, 2025.

This dividend is designated as an eligible dividend for the purposes of the Income Tax Act (Canada) and any similar applicable provincial legislation.

Positioned for a Strong 2025 and Beyond

"The past year has been transformative for SECURE, marked by the successful asset divestiture to Waste Connections, the reinvestment of strong proceeds into our business, and significant returns to shareholders, including the execution of $663 million in share buybacks," said Allen Gransch. "We are gaining momentum in the market with our strategic repositioning, and the opportunities ahead are immense. Industry fundamentals are driving same-store sales growth, and our robust pipeline of growth projects positions us to deliver long-term value. With a 12% midpoint increase in Adjusted EBITDA expected in 2025, we are confident in our ability to create sustainable growth and shareholder value."

He added, "The upcoming corporate name change to SECURE Waste Infrastructure Corp., expected to take effect January 1, 2025, aligns our identity with the critical role we play in waste and energy infrastructure. We are excited about the road ahead and look forward to delivering meaningful results for all our stakeholders."

NON-GAAP AND OTHER SPECIFIED FINANCIAL MEASURES

The Corporation uses accounting principles that are generally accepted in Canada (the issuer's "GAAP"), which includes International Financial Reporting Standards ("IFRS"). This news release contains certain measures that are considered "specified financial measures" (being either "non-GAAP financial measures", or "capital management measures", as applicable) as defined in National Instrument 52-112 - Non-GAAP and Other Financial Measures Disclosures, including: Adjusted EBITDA and discretionary free cash flow (non-GAAP financial measures); and Total Debt (capital management measures), which do not have any standardized meaning as prescribed by IFRS. These measures are intended as a complement to results provided in accordance with IFRS. The Corporation believes these measures provide additional useful information to analysts, shareholders and other users to understand the Corporation's financial results, profitability, cost management, liquidity and ability to generate funds to finance its operations.

However, these measures should not be used as an alternative to IFRS measures because they are not standardized financial measures under IFRS and therefore might not be comparable to similar financial measures disclosed by other companies. Each of these measures as disclosed in this press release are calculated consistently with the applicable corresponding specified financial measures disclosed in  the Corporation's MD&A for the three and nine months ended September 30, 2024 and 2023.  See the "Non-GAAP and other specified financial measures" section therein for further details, which is incorporated by reference herein and together with the Corporation's MD&A for the three and nine months ended September 30, 2024 and 2023 is available on SECURE's profile at www.sedarplus.ca and on our website at www.SECURE-energy.com (changing to secure.ca effective January 1, 2025).

FORWARD-LOOKING STATEMENTS

Certain statements contained or incorporated by reference in this press release constitute "forward-looking statements and/or "forward-looking information" within the meaning of applicable securities laws (collectively referred to as "forward-looking statements"). When used in this press release, the words "achieve", "advance", "anticipate", "believe", "can be", "capacity", "commit", "continue", "could", "deliver", "drive", "enhance", "ensure", "estimate", "execute", "expect", "focus", "forecast", "forward", "future", "goal", "grow", "integrate", "intend", "may", "maintain", "objective", "ongoing", "opportunity", "outlook", "plan", "position", "potential", "prioritize", "realize", "remain", "result", "seek", "should", "strategy", "target" "will", "would" and similar expressions, as they relate to SECURE, its management are intended to identify forward-looking statements. Such statements reflect the current views of SECURE and speak only as of the date of this press release.

In particular, this press release contains or implies forward-looking statements pertaining but not limited to: SECURE's business plans, goals, targets and strategies; SECURE's 2025 guidance, including with respect to Adjusted EBITDA, planned capital expenditures (including for organic growth capital, sustaining capital and ARO expenditures), expected tax expense and projected Discretionary Free Cash Flow; the Corporation's planned ARO activities; the closing of the two strategic acquisitions in the metals recycling business, including the expected timing thereof and that the acquisitions are expected to be fully funded through existing debt capacity; the expected benefits to be derived from the acquisitions, including strengthening our position as a leader in waste management and resource recovery, increasing our scale and processing capabilities, synergies with existing operations, expanding our geographic footprint and diversifying our scrap supply; the expected stability of our operations and growth opportunities of our business; that the Corporation is well position to continue delivering industry-leading conversion of Adjusted EBITDA to Discretionary Free Cash Flow; the Corporation's plan to maintain an annualized dividend at $0.40 per share; that the Corporation's expected Adjusted EBITDA in 2025 is expected to correspond to the Waste Management segment; the Corporation's target leverage ratio of 2.0x – 2.5x Total Debt to EBITDA; the Corporation's plan to expand our water infrastructure network in the Alberta Montney region, including the timing for the applicable new facility and existing facility expansions to become operational; the completion of the expansions of the Clearwater heavy oil terminal and gathering infrastructure, including that upon completion the terminal will have total capacity of 75,000 barrels per day; the Corporation's plan to reopen a suspended industrial waste processing facility located in Alberta's industrial heartland; anticipated purchases of incremental rail cars and the expected benefits to be delivered therefrom; the optimization of our waste infrastructure network to debottleneck, increase throughput, achieve cost saving and drive higher Adjusted EBITDA from same store sales; the expectation that the Corporation has a robust pipeline of growth opportunities; the Corporation's planned name change and related activities, including the expected timing thereof; statements concerning the NCIB, including the duration of the NCIB, the number of common shares which may be purchased under the NCIB, the timing, amount and price of purchases of common shares under the NCIB; and other statements.

Forward-looking statements are based on certain assumptions that SECURE has made in respect thereof as at the date of this press release regarding, among other things: SECURE's 2025 expectations; economic and operating conditions, including commodity prices, crude oil and natural gas storage levels, interest rates, exchange rates, and inflation; ability to enter into signing agreements with customers to backstop the investments and acquisition opportunities present; continued demand for the Corporation's infrastructure services and activity linked to long-term and recurring projects; the changes in market activity and growth will be consistent with industry activity in Canada and the U.S. and growth levels in similar phases of previous economic cycles; infrastructure developments in western Canada; increased capacity and stronger pricing with access to global markets through new infrastructure; the impact of any new pandemic or epidemic and other international or geopolitical events, including government responses related thereto and their impact on global energy pricing, oil and gas industry exploration and development activity levels and production volumes; anticipated sources of funding being available to SECURE on terms favourable to SECURE; the success of the Corporation's operations and growth projects; the impact of seasonal weather patterns; the Corporation's competitive position, operating, acquisition and sustaining costs remaining substantially unchanged; the Corporation's ability to attract and retain customers; that counterparties comply with contracts in a timely manner; current commodity prices, forecast taxable income, existing tax pools and planned capital expenditures; that counterparties comply with contracts in a timely manner; that there are no unforeseen events preventing the performance of contracts or the completion and operation of the relevant facilities; that there are no unforeseen material costs in relation to the Corporation's facilities and operations; that prevailing regulatory, tax and environmental laws and regulations apply or are introduced as expected, and the timing of such introduction; increases to the Corporation's share price and market capitalization over the long term; disparity between the Corporation's share price and the fundamental value of the business; the Corporation's ability to repay debt and return capital to shareholders; credit ratings; the Corporation's ability to obtain and retain qualified personnel (including those with specialized skills and knowledge), technology and equipment in a timely and cost-efficient manner; the Corporation's ability to access capital and insurance; operating and borrowing costs, including costs associated with the acquisition and maintenance of equipment and property; the ability of the Corporation and our subsidiaries to successfully market our services in western Canada and the U.S.; an increased focus on ESG, sustainability and environmental considerations in the oil and gas industry; the impacts of climate-change on the Corporation's business; the current business environment remaining substantially unchanged; present and anticipated programs and expansion plans of other organizations operating in the energy service industry resulting in an increased demand for the Corporation's and our subsidiaries' services; future acquisition and maintenance costs; the Corporation's ability to achieve its ESG and sustainability targets and goals and the costs associated therewith; and other risks and uncertainties described in SECURE's Annual Information Form for the year ended December 31, 2023 ("AIF") and from time to time in filings made by SECURE with securities regulatory authorities.

Forward-looking statements involve significant known and unknown risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. Readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the results discussed in these forward-looking statements, including but not limited to: general global financial conditions, including general economic conditions in Canada and the U.S.; the effect of any pandemic or epidemic, inflation and international or geopolitical events and governmental responses thereto on economic conditions, commodity prices and the Corporation's business and operations; changes in the level of capital expenditures made by oil and natural gas producers and the resultant effect on demand for oilfield services during drilling and completion of oil and natural gas wells; volatility in market prices for oil and natural gas and the effect of this volatility on the demand for oilfield services generally; a transition to alternative energy sources; the Corporation's inability to retain customers; risks inherent in the energy industry, including physical climate-related impacts; the Corporation's ability to generate sufficient cash flow from operations to meet our current and future obligations; the seasonal nature of the oil and gas industry; increases in debt service charges including changes in the interest rates charged under the Corporation's current and future debt agreements; inflation and supply chain disruptions; the Corporation's ability to access external sources of debt and equity capital and insurance; disruptions to our operations resulting from events out of our control; the timing and amount of stimulus packages and government grants relating to site rehabilitation programs; the cost of compliance with and changes in legislation and the regulatory and taxation environment, including uncertainties with respect to implementing binding targets for reductions of emissions and the regulation of hydraulic fracturing services and services relating to the transportation of dangerous goods; uncertainties in weather and temperature affecting the duration of the oilfield service periods and the activities that can be completed; ability to maintain and renew the Corporation's permits and licenses which are required for its operations; competition; impairment losses on physical assets; sourcing, pricing and availability of raw materials, consumables, component parts, equipment, suppliers, facilities, and skilled management, technical and field personnel; supply chain disruption; the Corporation's ability to effectively complete acquisition and divestiture transactions on acceptable terms or at all; failure to realize the benefits of acquisitions or dispositions and risks related to the associated business integration (including specifically with respect to the two strategic acquisitions in the metals recycling business); risks related to a new business mix and significant shareholder; liabilities and risks, including environmental liabilities and risks inherent in SECURE's operations; the Corporation's ability to invest in and integrate technological advances and match advances of our competition; the viability, economic or otherwise, of such technology; credit, commodity price and foreign currency risk to which the Corporation is exposed in the conduct of our business; compliance with the restrictive covenants in the Corporation's current and future debt agreements; the Corporation's or our customers' ability to perform their obligations under long-term contracts; misalignment with our partners and the operation of jointly owned assets; the Corporation's ability to source products and services on acceptable terms or at all; the Corporation's ability to retain key or qualified personnel, including those with specialized skills or knowledge; uncertainty relating to trade relations and associated supply disruptions; the effect of changes in government and actions taken by governments in jurisdictions in which the Corporation operates, including in the U.S.; the effect of climate change and related activism on our operations and ability to access capital and insurance; cyber security and other related risks; the Corporation's ability to bid on new contracts and renew existing contracts; potential closure and post-closure costs associated with landfills operated by the Corporation; the Corporation's ability to protect our proprietary technology and our intellectual property rights; legal proceedings and regulatory actions to which the Corporation may become subject, including in connection with any claims for infringement of a third parties' intellectual property rights; the Corporation's ability to meet its ESG targets or goals and the costs associated therewith; claims by, and consultation with, Indigenous Peoples in connection with project approval; disclosure controls and internal controls over financial reporting; and other risk factors identified in the AIF and from time to time in filings made by the Corporation with securities regulatory authorities.

The guidance in respect of the Corporation's expectations of Adjusted EBITDA, capital expenditures (including organic growth capital, sustaining capital and ARO expenditures), tax expense and discretionary free cash flow in 2024 in this press release may be considered to be a financial outlook for the purposes of applicable Canadian securities laws. Such information is based on assumptions about future events, including economic conditions and proposed courses of action, based on management's assessment of the relevant information currently available, and which may become available in the future. These projections constitute forward-looking statements and are based on several material factors and assumptions set out above. Actual results may differ significantly from such projections. See above for a discussion of certain risks that could cause actual results to vary. The financial outlook contained in this press release has been approved by management as of the date of this press release. Readers are cautioned that any such financial outlook contained herein should not be used for purposes other than those for which it is disclosed herein. SECURE and its management believe that the financial outlook contained in this press release has been prepared based on assumptions that are reasonable in the circumstances, reflecting management's best estimates and judgments, and represents, to the best of management's knowledge and opinion, expected and targeted financial results. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results.

Although forward-looking statements contained in this press release are based upon what the Corporation believes are reasonable assumptions, the Corporation cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements in this press release are made as of the date hereof and are expressly qualified by this cautionary statement. Unless otherwise required by applicable securities laws, SECURE does not intend, or assume any obligation, to update these forward-looking statements.

ABOUT SECURE

SECURE is a leading waste management and energy infrastructure business headquartered in Calgary, Alberta. The Corporation's extensive infrastructure network located throughout western Canada and North Dakota includes waste processing and transfer facilities, industrial landfills, metal recycling facilities, crude oil and water gathering pipelines, crude oil terminals and storage facilities. Through this infrastructure network, the Corporation carries out its principal business operations, including the processing, recovery, recycling and disposal of waste streams generated by our energy and industrial customers and gathering, optimization, terminalling and storage of crude oil and natural gas liquids. The solutions the Corporation provides are designed not only to help reduce costs, but also lower emissions, increase safety, manage water, recycle by-products and protect the environment.

SECURE's shares trade under the symbol SES and are listed on the Toronto Stock Exchange. For more information, visit www.SECURE-energy.com.

TSX Symbol: SES

SOURCE SECURE Energy Services Inc.

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