Liberty Energy Inc. Comments on Nomination of Chris Wright as U.S. Secretary of Energy and Announces Succession Planning for Chairman and CEO

DENVER--(BUSINESS WIRE)--Liberty Energy Inc. (NYSE: LBRT; “Liberty” or the “Company”) today commented on the announcement by President-elect Donald J. Trump regarding his nomination of Chris Wright, Liberty’s Founder, Chairman of the Board, Director and Chief Executive Officer, for the position of U.S. Secretary of Energy. The appointment of Mr. Wright as Secretary of Energy is subject to confirmation by the U.S. Senate, and Mr. Wright will continue in his current positions with the Company until confirmation occurs.

Effective upon and subject to this confirmation and in accordance with the Company’s succession plan, the Board of Directors intends to appoint William Kimble as non-executive Chairman of the Board and Ron Gusek as Chief Executive Officer.

“I am deeply honored by this nomination and opportunity to serve our country and continue the mission of bringing affordable, reliable energy to the citizens of the United States and beyond,” commented Mr. Wright.

Mr. Wright continued, “Succession planning has been a priority of the Board. Having worked closely with both Bill and Ron, Liberty will be in the safest of hands upon my departure. Ron has been a close partner to me for over two decades and possesses all the criteria to ensure Liberty continues leading the industry in technology innovation and service quality while delivering growth for our valued shareholders.”

Mr. Kimble has been a member of the Board of Directors since the Company’s initial public offering in January 2018 and has served as Lead Director since October 2018. Mr. Gusek joined Liberty in 2014 and has served as President of the Company since November 2016.

About Liberty

Liberty is a leading North American energy services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at [e-mail].

Forward-Looking and Cautionary Statements

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