Key Energy Services Inc. (KEGX)

[Mcgill]

Page 1 of 6 Re: Key Energy Svcs Inc Cusip: 492914106 Please call the Etrade Corp Actions team 1-800-ETRADE1 Monday-Friday 8am-6pm EST by cutoff 11/30/16 to submit your instructions. Opt 01: Cash-Out: rate to be determined. (This opt is subject to proration) Holders that wish to elect to receive the cash-out for their common stock Opt 02: Opt Out: (receive no entitlements) Holders who wish to elect to opt-out of granting the voluntary release. Holders who select this option will not be entitled to receive anything from the plan of reorganization. By default, holders who do not make an election for either the cash-out or the opt-out option will automatically receive the equity allocation for their old shares.
Page 2 of 6 continued from page 1 Re: Key Energy Svcs Inc Cusip: 492914106 Holders should obtain the disclosure statement for the joint prepackaged plan of reorganization dated, 09/21/16, and the election form for complete terms and conditions. Key Energy bondholders were asked to vote to approve or reject the plan of reorganization. If the plan is approved the holders of the common stock of Key Energy, who were not allowed to vote on the plan will also be entitled to receive something in the plan of reorganization.