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CALGARY, Alberta--(BUSINESS WIRE)--STEP Energy Services Ltd. ("STEP") (TSX:STEP) and ARC Energy Fund 8 Canadian Limited Partnership, ARC Energy Fund 8 United States Limited Partnership, ARC Energy Fund 8 International Limited Partnership and ARC Capital 8 Limited Partnership (collectively, “ARC Energy Fund 8”), a private equity fund advised by ARC Financial Corp. (“ARC”), are pleased to announce the successful closing of the previously announced take-private transaction involving STEP.

CALGARY, Alberta--(BUSINESS WIRE)--STEP Energy Services Ltd. ("STEP" or the "Company") is pleased to announce that the Court of King’s Bench of Alberta has granted the final order in respect of the previously announced plan of arrangement (the "Arrangement") involving ARC Energy Fund 8 Canadian Limited Partnership, ARC Energy Fund 8 United States Limited Partnership, ARC Energy Fund 8 International Limited Partnership and ARC Capital 8 Limited Partnership (collectively, "ARC Energy Fund 8"), 2659160 Alberta Ltd. (the "Purchaser" and, together with ARC Energy Fund 8, the "Purchaser Parties") and STEP under Section 193 of the Business Corporations Act (Alberta), whereby the Purchaser Parties will acquire all of the issued and outstanding common shares of STEP (the "Shares") not already owned by ARC Energy Fund 8, ARC Energy Fund 6 Canadian Limited Partnership, ARC Energy Fund 6 United States Limited Partnership, ARC Energy Fund 6 International Limited Partnership, ARC Capital 6 Limited Partnership, or any other person controlled or managed, directly or indirectly by ARC Financial Corp. This final court approval follows the shareholder approval that was obtained at the special meeting of STEP’s shareholders on December 12, 2025.

CALGARY, Alberta--(BUSINESS WIRE)--STEP Energy Services Ltd. ("STEP" or the "Company") is pleased to announce that the shareholders of STEP (the "Shareholders"), at the special meeting of Shareholders held today (the "Meeting"), approved an arrangement (the "Arrangement") involving ARC Energy Fund 8 Canadian Limited Partnership, ARC Energy Fund 8 United States Limited Partnership, ARC Energy Fund 8 International Limited Partnership and ARC Capital 8 Limited Partnership (collectively, "ARC Energy Fund 8"), 2659160 Alberta Ltd. (the "Purchaser" and, together with ARC Energy Fund 8, the "Purchaser Parties") and STEP pursuant to a court-approved plan of arrangement under section 193 of the Business Corporations Act (Alberta) whereby the Purchaser Parties will acquire all of the issued and outstanding common shares of STEP (the "Shares"), other than those Shares already owned, controlled or directed, directly or indirectly, by ARC Energy Fund 8, ARC Energy Fund 6 Canadian Limited Partnership, ARC Energy Fund 6 United States Limited Partnership, ARC Energy Fund 6 International Limited Partnership, ARC Capital 6 Limited Partnership, or any other person controlled or managed, directly or indirectly by ARC Financial Corp. , for $5.50 in cash per Share.