ESI Energy Services Inc. announced that it has entered into credit agreement with for principal amount of CAD 8,000,000 on March 11, 2024. The company initial has drawn a first advance of CAD 5,000,000 in its first tranche and may, subject to the satisfaction of certain conditions, draw a second advance of up to CAD 3,000,000 before May 15, 2024. The loans advanced under the credit agreement bear interest at a floating prime rate plus an applicable margin and will mature on the third anniversary of the credit agreement.

ESI is required to make monthly principal - 2 - {02238810.4} repayments based on a seven-year amortization schedule.