News

CALGARY, AB & HOUSTON, TX (April 10, 2025) — PrePad (“ PrePad ” or the “ Company ”), a leading provider of cloud-based software that’s designed to optimize drilling and completions through capital lifecycle management, execution optimization, and asset development strategies , today announced the closing of its US$2.8 million seed investment. The Company will now work to accelerate its growth to meet increasing demand in the energy sector. “We’re very pleased to complete this round of funding, which represents a significant milestone for us as we establish a new market category for drilling and completions software,” said Sean Hervo , Co-Founder and CEO of PrePad. “With the seed investment, we have the support and resources needed to deepen our U.S. market presence, bolster our go-to-market organization, and accelerate product development. We’ve built a robust software solution that has proven its value to some of the world’s most innovative energy companies. As we enter a growth phase for the company, we invite new clients, partners, and other energy solution providers to join forces with PrePad, the industry standard in this emerging market space.” The seed investment includes dilutive and non-dilutive components. The Company has received funding in this phase from U.S. oil and gas producer Devon Energy which served as a strategic lead investor, alongside contributions from strategic angel investors such as Deane Stewart and Dan Magyar, both formerly with 3esi-Enersight (now Quorum Software), and strategic partners such as Arcurve, a technology advisory and software development company. Non-dilutive funding came from Alberta Innovates, Chevron Technology Ventures, the Business Development Bank of Canada (BDC), and the National Research Council of Canada’s Industrial Research Assistance Program (NRC IRAP). To date, the Company has raised US$3.7 million. PrePad is expanding adoption by delivering software solutions to industry leaders, including Chevron, Devon Energy, Coterra Energy, Shell Canada, Birchcliff Energy, and Teine Energy. Focused on optimizing well manufacturing economics, PrePad’s platform is designed to maximize profitability by enabling users to analyze cost, time, and production interdependencies. At the heart of PrePad is its proprietary completions cost and time simulation model, which seamlessly integrates key variables to quantify the economics of different scenarios. The Company is primarily generating revenue from client software subscriptions. With numerous subscription orders awaiting execution in 2025, PrePad expects to be able to convert a growing share of its target market into active users, solidifying its first-mover advantage. “As we enter our growth phase, PrePad’s product roadmap remains laser-focused on building software with the best balance of sophistication and simplicity and delivering value-maximizing solutions that address the evolving challenges of the energy industry,” said Brandon Eidson, Co-Founder, President, and CPO of PrePad. “Almost daily we hear from clients how PrePad has helped them streamline a workflow, optimize a design, or settle a debate. We look forward to accelerating that with new clients and partners as we further refine and scale our offerings. Our goal is to enhance energy workers with unprecedented simulation software.” With the new capital, PrePad plans to continue to expand its U.S. team to support direct sales and customer success initiatives. Building on its strategic partnerships and a track record of delivering tangible results, PrePad is working to advance its mission of shaping a new market category in drilling and completions – ensuring that industry leaders who seek best-in-class solutions can rely on PrePad to remain at the forefront of innovation. PrePad’s innovative approach was highlighted when the Company was selected for Chevron Technology Ventures' Catalyst Program in 2024, an initiative aimed at accelerating technology innovation within the energy sector. Following this recognition, PrePad recently showcased its expertise at the SPE Hydraulic Fracturing Technology Conference held in February 2025 at The Woodlands, Texas, where the Company co-presented a paper with Devon Energy. About PrePad PrePad offers advanced software solutions for optimizing capital lifecycle management, execution strategies, and asset development in oil and gas drilling and completions. The platform reduces engineering time, maximizes budget value, and reveals the optimal trade-off between production, cost, cycle time, and emissions. Founded in 2021 by former Shell employees Sean Hervo and Brandon Eidson, PrePad has established itself as a leader in energy tech innovation. The Company has been recognized as a Disruptive Digital Innovator at the 2024 Global Energy Show Canada and named a Top Innovator in Completions by Darcy Partners , a provider of technology-focused market intelligence to the energy sector. For more information, visit www.prepad.io . Contact Sean Hervo CEO, PrePad info@prepad.io

CALGARY, AB & HOUSTON, TX (October 24, 2024) — PrePad (“PrePad” or the “Company”) , a leader in providing cloud-based software that revolutionizes drilling and completions through capital lifecycle management, execution optimization, and asset development optimization has announced the formation of a Board of Directors and appointment of industry veteran Wayne Sim as an independent director. PrePad’s newly formed Board of Directors includes: Brandon Eidson – Co-Founder, President, and Chief Product Officer Sean Hervo – Co-Founder and Chief Executive Officer Wayne Sim – Independent Director “Forming a Board of Directors and adding Wayne as an independent director marks an important step in PrePad's evolution,” said Sean Hervo, CEO of PrePad. “We’re focused on big innovations in the oil and gas drilling and completions space, and Wayne’s guidance and insights will be invaluable as we continue to expand our cloud-based SaaS offerings.” Sim has more than 30 years of experience bringing such innovative software solutions to market. He is currently Co-Founder and CEO of Tauri, a leading supply chain management company, and CEO of Algo, an AI-powered supply and demand planning software platform. Sim has led successful growth programs at several companies, including Hyprotech, which he grew into a global leader in process simulation software. Under his leadership, Hyprotech became the 10th largest software company in Canada by revenue and the most profitable. Sim also co-founded and was CEO of 3esi-Enersight (later rebranded to Aucerna), growing it into a $100 million-plus revenue company before its merger with Quorum Software. He is a director on the boards of Quorum Software and Algo. “Joining the Board of Directors at this stage in PrePad’s growth is a privilege,” said Sim. "I see potential in the company's software-driven approach to optimizing oil and gas operations. The platform provides a strong foundation for adding more clients, enhancing its capabilities, and extending our reach into new markets and drilling and completions environments. I look forward to collaborating with the leadership team and advisory group to unlock the full value of PrePad’s innovative technology.” PrePad’s newly formed Board of Directors will build on the expertise of its established Advisory Board, which includes a number of notable industry professionals: Adrian Bautista (Tauri) Christoph Faig (formerly Aucerna) Kris Goodmanson (Shell) Kevin Johnson (Gear Energy Ltd.) Jocelyn McMinn (Peloton Computer Enterprises) Paul Mereau (Burnet, Duckworth & Palmer LLP) Marc Rampaul (Patch Innovations) Representatives from Devon Energy Ventures PrePad is currently validating and commercializing its technology with early adopters in the energy sector. In September 2024, the Company was selected for Chevron Technology Ventures' Catalyst Program , an initiative that provides valuable resources to further refine its technology and expand market presence. PrePad’s software platform is currently being used by major industry players such as Devon Energy and Coterra Energy. The Company also secured a strategic investment from Devon Energy in 2023. About PrePad PrePad offers advanced software solutions for optimizing capital lifecycle management, execution strategies, and asset development in oil and gas drilling and completions. The platform reduces engineering time, improves cost estimation accuracy, and provides scenario modeling so operators can discover the optimal trade-off between product, cost, cycle time, and emissions. Founded in 2021 by former Shell employees Sean Hervo and Brandon Eidson, PrePad has established itself as a leader in energy tech innovation. The Company has been recognized as Disruptive Digital Innovator at the 2024 Global Energy Show Canada and named a Top Innovator in Completions by Darcy Partners, a provider of technology-focused market intelligence to the energy sector. For more information, visit www.prepad.io . Contact Sean Hervo CEO, PrePad info@prepad.io

CALGARY, AB & HOUSTON, TX (September 23, 2024) — PrePad ("PrePad" or the "Company"), a leading cloud-based SaaS startup specializing in optimizing drilling and completions time and cost estimation, has been selected by Chevron Technology Ventures ("CTV") for its Catalyst Program™, an initiative aimed at accelerating technology innovation within the energy sector . Sean Hervo, Co-Founder and CEO of PrePad, expressed his enthusiasm about the selection, saying, "We're deeply honoured to be chosen by Chevron Technology Ventures for its Catalyst Program. This opportunity is a significant milestone for PrePad, providing us with a framework to refine our technology further. Working with Chevron on potential use cases, and leveraging the program's model will allow us to fine-tune our go-to-market strategies as we continue to develop a product that delivers tangible value to industry operators." Launched in 2017, CTV's Catalyst Program aims to accelerate the growth of early-stage companies working on technologies potentially beneficial to the energy sector. These innovations may be in operational enhancement, digitalization, and lower carbon - or a combination thereof. PrePad is focused on advancing the development of its proprietary technology designed to revolutionize the cost estimation lifecycle for drilling and completing oil and gas wells. The Company's software is designed to enhance capital efficiency, support adjacent workflows, and offer greater transparency and accuracy in drilling and completions decision-making processes. PrePad's software represents a significant leap forward from traditional spreadsheet-based approaches, aiming to enable clients to optimize their drilling and completions strategies more effectively. In an era marked by dynamic changes in the energy landscape, fluctuating input costs, and volatile commodity prices, PrePad's platform is designed to offer a specialized solution to streamline processes and improve accuracy for its clients. PrePad believes its software is well-positioned to become the industry standard for comprehensive cost and time analysis, complete with integrated economic considerations. Through its participation in the Catalyst Program, PrePad aims to further validate and commercialize its technology, and intends to complete trials with both existing and new clients in the energy sector. PrePad's software is currently used by a number of leading companies, including Devon Energy and Coterra Energy. Earlier this year, PrePad was recognized as Disruptive Digital Innovator at the 2024 Global Energy Show Canada and as a Top Innovator in Completions by Darcy Partners, a provider of technology-focused market intelligence to the energy sector. The Company was founded in 2021 by Sean Hervo and Brandon Eidson, both of whom previously held positions at Shell. PrePad has benefited from supportive partners since inception. The Company has received non-dilutive funding from Alberta Innovates, the National Research Council of Canada's Industrial Research Assistance Program (NRC IRAP), and the Alberta Export Expansion Program. PrePad has also raised funds through strategic angel investors; employee contributions; a complementary partnership with Arcurve, a leading technology consultancy; and a strategic investment from Devon Energy, a large U.S. oil and gas producer. About PrePad PrePad is a cutting-edge software solution that revolutionizes cost and time estimation for oil and gas drilling and completions while providing advanced scenario modeling for development operations. The platform enables operators to optimize the balance between production, cost, cycle time, emissions, and risk. For more information, visit www.prepad.io . About Chevron Technology Ventures Formed in 1999, Chevron Technology Ventures identifies, supports, and invests in breakthrough technologies that have the potential to enhance how Chevron produces and delivers affordable, reliable, and ever-cleaner energy. Visit Chevron Technology Ventures . Contact Sean Hervo CEO, PrePad info@prepad.io SOURCE: Newsfile