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PRESS RELEASE FOR IMMEDIATE DISTRIBUTION CES Energy Solutions August 12 , 2021 CES ENERGY SOLUTIONS CORP . ANNOUNCES STRONG Q2 2021 RESULTS , DIVIDEND REINSTATEMENT AND EXPANSION INTO NEW GEOGRAPHIC MARKETS CES Energy Solutions Corp. ( " CES " or the " Company " ) ( TSX : CEU ) ( OTC - Nasdaq Intl : CESDF ) announced today the Company's results for the three and six months ended June 30 , 2021 . In Q2 2021 CES demonstrated strong revenues , margins , market share , and surplus free cash flow generation , underpinned by focus on strategic investments in working capital and preservation of strong balance sheet and liquidity metrics . Revenue for the quarter was $ 253.6 million and Adjusted EBITDAC was $ 32.0 million , representing a 12.6 % margin as CES realized improvements throughout its business lines , including maintaining market share of 20 % in its US drilling fluids division . CES demonstrated these strong financial results as industry conditions continued to stabilize and improve during the past three quarters . CES has been able to leverage its established infrastructure , strong industry positioning and dedicated people to capitalize on these positive developments . CES remains confident in its ability to generate strong surplus free cash flow amid an improving outlook and on August 12 , 2021 , the Company's Board of Directors approved the reinstatement of its dividend on a quarterly basis . Accordingly , CES will pay a cash dividend of $ 0.016 per share on October 15 , 2021 to the shareholders of record at the close of business on September 30 , 2021. CES ' reinstated dividend returns additional value to shareholders while preserving the strength of the Company's balance sheet and maintaining ample liquidity to fund capital allocation options including potential growth initiatives . CES is also pleased to report expansion into two new geographic markets . Both initiatives are consistent with the Company's previously stated strategic goals of applying our advanced chemistries with knowledgeable customers , absent large outlays of capital . AES Drilling Fluids , our US drilling fluids business , with the assistance of our global supply chain team , is actively supplying an existing CES customer in Oman . While the Oman operation is still in its early stages , this kind of project offers the type of scale that could allow CES to meaningfully expand operations into the attractive Middle East market . In addition , PureChem Services , our Canadian production chemical division , has also begun exporting production chemicals to a new customer in Nigeria . As industry activity levels continued to improve , CES remained disciplined on capital expenditures during the quarter , while retaining substantial liquidity and balance sheet strength . CES exited the quarter with a net cash balance of $ 11.9 million ( December 31 , 2020 - $ 18.3 million ) and Total Debt , net of cash , of $ 304.6 million ( December 31 , 2020 - $ 299.7 million ) , of which $ 288.0 million relates to Senior Notes which don't mature until October 21 , 2024. CES ' Senior Facility has a maximum available draw of $ 170.0 million on the Canadian facility and US $ 50.0 million on the US facility ( December 31 , 2020 - $ 170.0