STEP Energy Services Ltd. Announces Approval of Arrangement by Shareholders

Core Viewpoint - STEP Energy Services Ltd. has received shareholder approval for an arrangement to be acquired by ARC Energy Fund 8 and related parties at a price of $5.50 per share [1][2]. Group 1: Arrangement Details - The arrangement was approved with 98.65% of votes cast in favor by shareholders present or represented by proxy [2]. - The arrangement is subject to the approval of the Court of King's Bench of Alberta, with a hearing scheduled for December 15, 2025, and anticipated completion on December 16, 2025 [3]. Group 2: Company Overview - STEP is an energy services company specializing in coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing solutions, focusing on safety and quality execution [5]. - Founded in 2011, STEP has evolved into a North American service provider, primarily serving exploration and production companies in Canada and the U.S., with services concentrated in specific basins [6].