Pickering Energy Partners Advises ProFrac’s Audit Committee on Terms of Preferred Equity Investment into the Company

Pickering Energy Partners (“PEP”) advised the Audit Committee of ProFrac Holding Corp.’s (NASDAQ:ACDC) (“ProFrac” or the “Company”) Board of Directors on the terms of the $50 million in preferred equity investment (the “Preferred Equity”) by ProFrac’s largest shareholder, the Wilks Family. The Preferred Equity was issued as perpetual preferred equity securities convertible into ProFrac Class A common stock at a conversion price of $20.00 per share. In addition, the Preferred Equity accrues interest at an 8% annualized rate, payable quarterly and payment-in-kind (“PIK”). The investment optimizes the capital structure of ProFrac as it looks to maximize the value in Alpine Silica, the industry’s largest multi-basin proppant producer.

About Pickering Energy Partners

Pickering Energy Partners is an energy-focused financial services platform. Our expertise spans decades across the entire energy landscape. We have deployed over $16 billion across all energy sub-sectors. We are, at our core, trusted energy advisors, investors, and partners alongside our clients. Headquartered in Houston, Texas, PEP delivers an experienced, opportunistic team that aims to provide guidance and long-term value for clients while having a positive impact on the companies and communities that PEP invests in. For more information, please visit www.PickeringEnergyPartners.com.

Pickering Energy Partners LP (“PEP”) is an SEC Registered Investment Advisor. Affiliated PEP Advisory LLC (“PEP BD”) is a registered broker-dealer, member FINRA/SIPC.

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