ProPetro Holding Corp.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549​

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ProPetro Holding Corp.

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2025 AT A GLANCE

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SAMUEL D. SLEDGE

Chief Executive Officer and Director

Dear Stockholders,

2025 was a defining year for ProPetro. In a challenging and dynamic market environment, our team delivered resilient financial performance, advanced our strategic priorities, and laid a strong foundation for long-term growth. Through disciplined execution, prudent capital allocation, and a continued focus on operational excellence, we demonstrated the durability of our legacy completions businesses and saw meaningful development in our PROPWRSM power generation business that was launched in late 2024.

Throughout the year, our completions businesses continued to perform, providing stability and flexibility. Despite reduced activity levels across the Permian Basin, we maintained operational and financial discipline, managing our cost structure and fleet utilization to protect margins and liquidity. We believe this planning will position us to capture opportunities if the completions market improves.

At the same time, a key element of our strategy in 2025 was the development of our PROPWRSM business, which saw rapid advancement throughout the year. During the year, we secured multiple customer contracts, deployed our first mobile power generation equipment into the field, and increased total delivered or on-order generation capacity to approximately 550 megawatts. This portfolio is intentionally diversified and capable of effectively serving the data center, industrial, and oil and gas markets, with approximately 70% high-efficiency natural gas reciprocating engine generators and 30% low-emission modular turbines. As of early 2026, we had approximately 240 megawatts committed to customer contracts, underscoring strong and growing customer demand for reliable, low-emission power solutions.

To support the scale-up of PROPWRSM while maintaining financial flexibility, we executed several important financing initiatives in 2025. We secured dedicated financing arrangements, including equipment financing with Caterpillar Financial Services Corporation that was originally entered into in April 2025 and subsequently expanded in early 2026, and an equipment leasing facility with Stonebriar Commercial Finance designed to ensure available funding for future PROPWR equipment purchases. In addition, we completed an equity offering in early 2026 that further strengthened our balance sheet and enhanced our ability to pursue growth opportunities.

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Demonstrated the strength and resilience of our industrialized model, delivering consistent performance despite challenging market conditions. Our completions business generated strong financial results, fueling ongoing investments in PROPWRSM

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Launched and scaled PROPWRSM, deploying initial assets and increasing total delivered or on-order capacity to approximately 550 megawatts

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Secured long-term financing solutions to facilitate PROPWRSM capital investments while maintaining a strong balance sheet that will support continued growth

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Executed multiple customer contracts, including our first data center contract, demonstrating our ability to compete and win business outside the oil and gas service space

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Detailed our PROPWRSM five-year development plan, establishing our strategic outlook for the growth of the PROPWRSM business

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Message from Our Chief Executive Officer

As we enter 2026, we do so with momentum, clarity of purpose, and confidence in our strategic direction. We remain excited about the opportunities ahead for PROPWRSM, where we believe our speed to market solutions provide a competitive advantage in a strong market. For our completions business, despite the ongoing turbulence in the oil and gas markets resulting from the conflict in Iran, we expect our customers to remain disciplined. In this environment, we believe our focus on operational excellence, capital discipline, cost control and differentiated service offerings position us well to capture opportunities in the current market.

This year, our priorities remain clear.

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we will continue to invest in and scale PROPWRSM, focusing on operational execution for our existing customers and capturing the growth opportunities in our robust commercial pipeline; and

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we will leverage our next-generation completions fleet and reputation for operational excellence to ensure we remain a premier provider of efficient, lower-emission completions services

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With a resilient core business, a growing power generation platform, a disciplined capital allocation and management program, and a talented and committed team that is focused on consistent execution, we believe ProPetro is well positioned to navigate industry cycles and create value for our stockholders.

Thank you for your continued support of ProPetro. We look forward to you joining us at our annual meeting of stockholders on May 19, 2026.

Sincerely,

Samuel D. Sledge

Chief Executive Officer and Director

April 8, 2026

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Dear Stockholders,

We cordially invite you to attend the 2026 annual meeting of stockholders of ProPetro Holding Corp.

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A stockholders’ list will be available at our offices at One Marienfeld Place, 110 N. Marienfeld Street, Suite 300, Midland, Texas 79701 for a period of ten days prior to the meeting. We hope that you will be able to attend the meeting in person.

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