Section 3.09(a) of the Indenture, dated as of May 29, 2020, by and among Pioneer Energy Services Corp. and Wilmington Trust, National Association, as supplemented by the First Supplemental Indenture, dated March 3, 2021, and the Second Supplemental Indenture, dated May 11, 2021, governing the Issuer’s Senior Secured Floating Rate Notes due 2025, requires the Issuer to offer to repurchase the Notes with proceeds of asset sales in excess of $5 million in the aggregate. On April 21, 2021, the Issuer commenced an offer to purchase for cash up to $125,000 in aggregate principal amount of its outstanding Notes pursuant to Section 3.09(a) of the Indenture. Having completed additional asset sales, the Issuer amended the Offer on May 4, 2021 and May 18, 2021 to increase the amount offered to purchase for cash up to $950,000 in aggregate principal amount of its outstanding Notes. As of June 2, 2021, the aggregate principal amount of Notes outstanding was $76,445,585. The Offer, as amended, expired at 5:00 p.m., New York City time, on June 2, 2021. On June 4, 2021, the Issuer purchased $950,000 aggregate principal amount of Notes that were tendered at or prior to the Expiration Time. Following the purchase, the Issuer cancelled the $950,000 aggregate principal amount of Notes that it purchased. As of June 5, 2021, the aggregate principal amount of Notes outstanding is $75,495,585.