Item 1.02 Termination of a Material Definitive Agreement.

As previously disclosed, U.S. Well Services, Inc. (the "Company") was granted an unsecured loan (the "Loan") from Bank of America, N.A. in the aggregate principal amount of $10,000,000 pursuant to the Paycheck Protection Program under Division A, Title I of Coronavirus Aid, Relief, and Economic Security Act, which was enacted on March 27, 2020. The Loan is evidenced by a promissory note, dated as of July 24, 2020 by the Company in favor of Bank of America, N.A., as lender.

On August 24, 2021, the Company received notification from Bank of America, N.A. that the Loan was forgiven in full by the U.S. Small Business Administration.





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