Pioneer Energy Services Corp. (the “ Issuer ”), the subsidiary guarantors party thereto from time to time, and Wilmington Trust, National Association (the “ Indenture ”), governing the Issuer’s Senior Secured Floating Rate Notes due 2025 (the “ Notes ”), requires the Issuer to offer to repurchase the Notes with proceeds of asset sales in excess of $5 million in the aggregate (excluding dispositions of inventory in the ordinary course of business). As of December 31, 2020, the Issuer had completed asset sales resulting in total proceeds of $8,249,114. On January 4, 2021, the Issuer commenced an offer (the “ Offer ”) to purchase for cash up to $150,000 in aggregate principal amount of its outstanding Notes pursuant to Section 3.09(a) of the Indenture. On January 21, 2021, the Issuer completed additional asset sales resulting in total proceeds of $450,000 and on January 25, 2021 the Issuer amended the Offer to increase the amount offered to purchase for cash up to $600,000 in aggregate principal amount of its outstanding Notes. As of February 8, 2021, the aggregate principal amount of Notes outstanding was $77,439,459. The Offer, as amended, expired at New York City time, on February 8, 2021 (the “ Expiration Time ”). On February 10, 2021, the Issuer purchased $600,000 aggregate principal amount of Notes that were tendered at or prior to the Expiration Time. Following the purchase, the Issuer cancelled the $600,000 aggregate principal amount of Notes that it purchased. As of February 11, 2021, the aggregate principal amount of Notes outstanding is $76,839,459.