National Energy Services granted extension from Nasdaq to file 2021 report

National Energy Services announced the receipt of a letter from the Nasdaq Capital Market announcing the results of the Company’s hearing before the Nasdaq Hearings Panel to request a further stay of compliance with Nasdaq Listing Rule 5250(c)(1). The Letter states that the Panel has granted the Company’s request for continued listing on the Nasdaq Capital Market provided that the Company files its Annual Report on Form 20-F for the fiscal year ended December 31, 2021 with the SEC on or before Tuesday, April 25, 2023. As disclosed previously in press releases on March 14, 2022, June 17, 2022, and November 17, 2022, the Company’s annual financial statements for the years ended December 31, 2020, 2019, and 2018, as well the interim financial information for the first 3 calendar quarters of 2021, respectively, need to be restated and consequently cannot be relied upon. The Company is working diligently to file its 2021 20-F with the SEC and to regain compliance with the Nasdaq listing rule as soon as possible.