Dated as of May 29, 2020, by and among Pioneer Energy Services Corp. (the “Issuer”), the subsidiary guarantors party thereto from time to time, and Wilmington Trust, National Association, as supplemented by the First Supplemental Indenture, dated March 4, 2021 (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). On March 17, 2021, the Issuer commenced an offer (the “Offer”) to purchase for cash up to $245,417 in aggregate principal amount of its outstanding Notes of the Indenture. Having completed additional asset sales, the Issuer amended the Offer on March 23, 2021, April 7, 2021, and finally on April 12, 2021, to increase the amount offered to purchase for cash up to $780,417 in aggregate principal amount of its outstanding Notes. As of April 26, 2021, the aggregate principal amount of Notes outstanding was $77,226,002. The Offer, as amended, expired at 5:00 p.m., New York City time, on April 26, 2021 (the “Expiration Time”). On April 28, 2021, the Issuer purchased $780,417 aggregate principal amount of Notes that were tendered at or prior to the Expiration Time. Following the purchase, the Issuer cancelled the $780,417 aggregate principal amount of Notes that it purchased. As of April 29, 2021, the aggregate principal amount of Notes outstanding is $76,445,585.