ANNUAL INFORMATION FORM Year Ended December 31, 2012 March 21, 2013 TABLE OF CONTENTS Page FORWARD-LOOKING INFORMATION AND STATEMENTS ............................................................................... 1 TRICAN WELL SERVICE LTD. ................................................................................................................................. 2 Incorporation History ................................................................................................................................................ 2 Intercorporate Relationships ...................................................................................................................................... 3 GENERAL DEVELOPMENT OF THE BUSINESS .................................................................................................... 3 History ....................................................................................................................................................................... 3 Canada ................................................................................................................................................................... 4 United States .......................................................................................................................................................... 5 Russia .................................................................................................................................................................... 6 Kazakhstan ............................................................................................................................................................ 7 North Africa (Algeria) ........................................................................................................................................... 7 Australia ................................................................................................................................................................ 7 Saudi Arabia .......................................................................................................................................................... 8 Colombia ............................................................................................................................................................... 8 DESCRIPTION OF THE BUSINESS AND OPERATIONS ....................................................................................... 8 General ...................................................................................................................................................................... 8 Overview of Operations ............................................................................................................................................. 8 Canadian Operations .............................................................................................................................................. 8 United States Operations ....................................................................................................................................... 9 Russian Operations .............................................................................................................................................. 10 Algeria Operations ............................................................................................................................................... 11 Australia Operations ............................................................................................................................................ 12 Description of Services ............................................................................................................................................ 12 Acidizing and Production Enhancement .............................................................................................................. 12 Carbon Dioxide ("CO2") ..................................................................................................................................... 12 Cementing ............................................................................................................................................................ 13 Coiled Tubing ...................................................................................................................................................... 13 Fracturing ............................................................................................................................................................ 13 Geological ............................................................................................................................................................ 13 Completion Systems and Downhole Tool Services ............................................................................................. 13 Microseismic Fracture Mapping .......................................................................................................................... 14 Nitrogen ............................................................................................................................................................... 14 Industrial Services ............................................................................................................................................... 14 Economic Dependence ............................................................................................................................................ 14 Changes to Contracts ............................................................................................................................................... 14 Employees ............................................................................................................................................................... 15 Foreign Operations .................................................................................................................................................. 15 Social and Environmental Policies .......................................................................................................................... 15 Environmental Protection ........................................................................................................................................ 16 Intellectual Property ................................................................................................................................................ 16 Seasonality ............................................................................................................................................................... 16 Competitive Conditions ........................................................................................................................................... 17 New Products ........................................................................................................................................................... 17 Specialized Skill and Knowledge ............................................................................................................................ 19 RISK FACTORS ......................................................................................................................................................... 19 DIVIDEND RECORD AND POLICY ........................................................................................................................ 26 DESCRIPTION OF CAPITAL STRUCTURE ........................................................................................................... 26 Common Shares ....................................................................................................................................................... 26 Preferred Shares ....................................................................................................................................................... 26 Senior Unsecured Notes .......................................................................................................................................... 27 MARKET FOR SECURITIES .................................................................................................................................... 27 DIRECTORS AND OFFICERS .................................................................................................................................. 28 Conflicts of Interest ................................................................................................................................................. 32 AUDIT COMMITTEE INFORMATION ................................................................................................................... 32 LEGAL PROCEEDINGS ............................................................................................................................................ 33 INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS ........................................... 33 TRANSFER AGENT AND REGISTRAR .................................................................................................................. 33 MATERIAL CONTRACTS ........................................................................................................................................ 33 INTERESTS OF EXPERTS 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