NOTICE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS TO BE HELD THURSDAY, MAY 13, 2021 and MANAGEMENT PROXY CIRCULAR Dated April 1, 2021 These materials are important and require your immediate attention. They require holders of common shares of Trican Well Service Ltd. ("Trican") to make important decisions. If you are in doubt as to how to make such decisions, please contact your fi nancial, legal, tax or other professional advisors. If you have any questions or require more information with respect to voting your common shares of Trican, please contact Olympia Trust Company of Canada at 1-866-668-8379 (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 AND SPECIAL MEETING OF SHAREHOLDERS OF TRICAN WELL SERVICE LTD. ......................................... 5 ABOUT THIS CIRCULAR AND RELATED PROXY MATERIALS ............................................................................................................................... 6 Notice-and-Access ...................................................................................................................................................................................................................................6 VOTING INFORMATION ........................................................................................................................................................................................................... 7 Voting Securities and Principal Holders Thereof ....................................................................................................................................................................7 Quorum for the Meeting .....................................................................................................................................................................................................................7 Advance Notice for Director Nominations ................................................................................................................................................................................7 Matters Proposed for Approval ........................................................................................................................................................................................................7 Eligible Voters ..............................................................................................................................................................................................................................................8 Voting Deadline .........................................................................................................................................................................................................................................8 Registered Shareholder Voting .........................................................................................................................................................................................................8 Non-Registered / Benefi cial Shareholder Voting ...................................................................................................................................................................8 PROXY INFORMATION ............................................................................................................................................................................................................. 9 Proxy Instructions .................................................................................................................................................................................................................................. 10 Revoking a Proxy.................................................................................................................................................................................................................................... 10 Virtual Only Meeting ........................................................................................................................................................................................................................... 10 Diffi culties in Accessing the Meeting .........................................................................................................................................................................................11 BUSINESS OF THE MEETING ...............................................................................................................................................................................................11 INFORMATION CONCERNING THE DIRECTOR NOMINEES ................................................................................................................................13 Interlocking Directorships ................................................................................................................................................................................................................20 Governance and Director Selection ...........................................................................................................................................................................................20 Majority Voting for Directors ...........................................................................................................................................................................................................22 Board Tenure and Retirement ........................................................................................................................................................................................................22 Director Orientation and Continuing Education ................................................................................................................................................................22 Independence .........................................................................................................................................................................................................................................23 Environmental, Social and Governance ("ESG") Responsibility .................................................................................................................................. 24 Director Assessments ..........................................................................................................................................................................................................................26 Director Compensation .....................................................................................................................................................................................................................26 Director Summary Compensation Table and Vested Incentive Plan Awards ....................................................................................................27 Incentive Plan Awards .........................................................................................................................................................................................................................28 Share Ownership Guidelines for Non-Management Directors ..................................................................................................................................28 Share Ownership Guidelines for Management Directors .............................................................................................................................................29 Additional Disclosure Relating to Directors ...........................................................................................................................................................................30 Board Committees ................................................................................................................................................................................................................................30 Position Descriptions ........................................................................................................................................................................................................................... 32 Succession Planning ............................................................................................................................................................................................................................ 32 Management Proxy Circular 2021 | 3 Trican Well Service Ltd. INCENTIVE COMPENSATION PLANS ...............................................................................................................................................................................32 Option Plan ............................................................................................................................................................................................................................................... 32 Performance Share Unit Plan ..........................................................................................................................................................................................................34