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NOTICE of ANNUAL and SPECIAL MEETING of SHAREHOLDERS to BE HELD THURSDAY, MAY 9, 2019 and MANAGEMENT PROXY CIRCULAR

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NOTICE of ANNUAL and SPECIAL MEETING of SHAREHOLDERS to BE HELD THURSDAY, MAY 9, 2019 and MANAGEMENT PROXY CIRCULAR NOTICE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS TO BE HELD THURSDAY, MAY 9, 2019 and MANAGEMENT PROXY CIRCULAR Dated March 28, 2019 These materials are important and require your immediate attention. They require holders of common shares of Trican Well Service Ltd. ("Trican") to make important deci- sions. If you are in doubt as to how to make such decisions, please contact your fi nancial, legal, tax or other professional dvisors.a If you have any questions or require more information with respect to voting your common shares of Trican, please contact Computershare Trust Company of Canada at 1-800-564-6253 (toll free) or contact: North American Toll-Free Number: 1-888-518-1565 Collect Calls Outside North America: 1-416-867-2272 E-mail: [email protected] Page left intentionally blank. Trican Well Service Ltd. TABLE OF CONTENTS NOTICE OF ANNUAL & SPECIAL MEETING OF SHAREHOLDERS OF TRICAN WELL SERVICE LTD. .................................................5 ABOUT THIS CIRCULAR AND RELATED PROXY MATERIALS ............................................................................................................................... 6 Notice-and-Access ...................................................................................................................................................................................................................................6 VOTING INFORMATION ........................................................................................................................................................................................................... 6 Voting Securities and Principal Holders Thereof ....................................................................................................................................................................6 Quorum for the Meeting .....................................................................................................................................................................................................................6 Advance Notice for Director Nominations ................................................................................................................................................................................7 Matters Proposed for Approval ........................................................................................................................................................................................................7 Eligible Voters ..............................................................................................................................................................................................................................................7 Voting Deadline .........................................................................................................................................................................................................................................7 Registered Shareholder Voting .........................................................................................................................................................................................................7 Non-Registered Shareholder Voting .............................................................................................................................................................................................8 PROXY INFORMATION ............................................................................................................................................................................................................. 9 Proxy Instructions .....................................................................................................................................................................................................................................9 Revoking a Proxy .......................................................................................................................................................................................................................................9 BUSINESS OF THE MEETING ...............................................................................................................................................................................................10 INFORMATION CONCERNING THE DIRECTOR NOMINEES ................................................................................................................................12 Interlocking Directorships ................................................................................................................................................................................................................20 Director Selection..................................................................................................................................................................................................................................20 Majority Voting for Directors ...........................................................................................................................................................................................................22 Board Tenure and Retirement ........................................................................................................................................................................................................22 Director Orientation and Continuing Education ................................................................................................................................................................23 Independence .........................................................................................................................................................................................................................................25 Director Assessments ..........................................................................................................................................................................................................................26 Board and Committee Meetings Held and Attendance ................................................................................................................................................26 Director Compensation .....................................................................................................................................................................................................................27 Director Summary Compensation Table and Vested Incentive Plan Awards ....................................................................................................28 Incentive Plan Awards .........................................................................................................................................................................................................................29 Share Ownership Guidelines for Directors .............................................................................................................................................................................29 Additional Disclosure Relating to Directors ...........................................................................................................................................................................30 Board Committees ................................................................................................................................................................................................................................ 31 Position Descriptions ........................................................................................................................................................................................................................... 32 Succession Planning ............................................................................................................................................................................................................................ 32 Management Proxy Circular 2019 | 3 Trican Well Service Ltd. INCENTIVE COMPENSATION PLANS ...............................................................................................................................................................................32 Option Plan ............................................................................................................................................................................................................................................... 32 Performance Share Unit Plan ..........................................................................................................................................................................................................34 Securities Authorized for Issuance Under Equity Compensation Plans ................................................................................................................36 Stock Option Grants as a Percentage of Outstanding Shares ..................................................................................................................................... 37 STATEMENT OF EXECUTIVE COMPENSATION...........................................................................................................................................................37
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