Document:

EX-10.21

 EXHIBIT 10.21 

THE TRANSFER OF THE LIMITED LIABILITY COMPANY INTERESTS DESCRIBED IN THIS AGREEMENT IS RESTRICTED AS DESCRIBED HEREIN. 

FORM OF LIMITED LIABILITY COMPANY AGREEMENT 

OF 
 KEANE INVESTOR
HOLDINGS LLC, 
 a Delaware Limited Liability Company 

THIS LIMITED LIABILITY COMPANY AGREEMENT of Keane Investor Holdings LLC, a Delaware limited liability company (the
“Company”), is made effective as of             , 201[7] (this “Agreement”), by and among the Cerberus Funds, JS Keane Coinvestor LLC
(“JS”), Trican Well Service, L.P. (“Trican”), SJK Family Limited Partnership, LP (“SJK”), KCK Family Limited Partnership, LP (“KCK”), Tim Keane (“TK”), Brian Keane
(“BK”), Shawn Keane (“SK”), Jacquelyn Keane (“JK”), Cindy Keane (“CK”), Kevin Keane (“KK” and, together with SJK, KCK, TK, BK, SK, JK and CK, each, a “Keane
Party” and collectively, the “Keane Parties”), the Cerberus Representative, the Keane Representative, and the Persons listed on Schedule A hereto (the “Management Members” and, together with the
Cerberus Funds, JS, Trican and the Keane Parties and any other Person who becomes a member of the Company from time to time in accordance with the provisions hereof, the “Members”). 

RECITALS: 
 1. A
Certificate of Formation of the Company was filed with the Secretary of State of the State of Delaware on October 11, 2016; and 
 2.
In accordance with the Act, the holders of Units of the Company wish to enter into this Agreement to: (i) set forth the respective rights, powers and interests of such parties with respect to the Company; (ii) establish the terms for the
issuance of interests therein; and (iii) provide for the management of the business and operations of the Company. 
 NOW, THEREFORE,
in consideration of the mutual promises and agreements herein made and intending to be legally bound hereby, the parties hereto agree as follows: 

ARTICLE I. 
 GENERAL PROVISIONS

  

	 	Section 1.1	Registered Office 

 The registered agent and office of the Company in the State of
Delaware shall be The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware 19801. A majority vote of the Class A Units Held by the Class A Members may change said registered office from one location
to another in the State of Delaware. 

	 	Section 1.2	Other Offices 

 The Company may have one or more offices as may be established from time
to time by the Management Board. 
  

	 	Section 1.3	Purpose; Nature of Business Permitted; Powers 

 The purpose to be conducted or promoted
by the Company is to engage in the following activities: 
 (i) to acquire, own, hold, vote, sell, Transfer, convey, safekeep, dispose of,
pledge, assign, borrow money against, finance, refinance or otherwise deal with, the Keane Group Stock in accordance with the terms hereof; and 

(ii) to engage in any lawful act or activity and to exercise any powers permitted to limited liability companies organized under the Laws of
the State of Delaware that are related or incidental to and necessary, convenient or advisable for the accomplishment of the above-mentioned purpose. 

 

	 	Section 1.4	Limited Liability of Members 

 No Member or any of its Affiliates or Affiliated
Individuals shall have any liability for the debts, obligations or liabilities of the Company or of any other Member. Except as provided in Section 11.7, subject to the provisions of this Agreement, including, without limitation, Article XI
hereof, any liability of any Member or any of its Affiliates or Affiliated Individuals to another Member or to the Company hereunder shall be limited to the Units of such Member or its Affiliates. 

 

	 	Section 1.5	Tax Classification; No State Law Partnership 

 The Members intend that the Company shall
be treated as a partnership for federal, state and local tax purposes. Each Member and the Company agree to file all tax returns and otherwise take all tax and financial reporting positions in a manner consistent with such treatment. No provision of
this Agreement shall be deemed or construed to constitute the Company (including its Subsidiaries) as a partnership (including a limited partnership) or joint venture, or any Member as a partner of or with any other Member for any purposes other
than tax purposes. 
  

	 	Section 1.6	Definitions 

 Unless the context otherwise requires, the terms defined in this
Section 1.6 shall, for the purposes of this Agreement, have the meanings herein specified (such meanings to be equally applicable to both the singular and plural forms of the terms defined). 

“1933 Act” has the meaning set forth in Section 12.15. 

  
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 “1934 Act” means the Securities Exchange Act of 1934, as
amended, and the rules and regulations thereunder. 
 “1940 Act” means the Investment Company Act of 1940,
as amended, and the rules and regulations thereunder. 
 “50% Trigger Date” has the meaning set forth in
Section 3.7(f). 
 “Act” means the Delaware Limited Liability Company Act (as it may be amended from
time to time and any successor to such Act). 
 “Additional Units” has the meaning set forth in
Section 2.2(b)(ii). 
 “Affiliate” means, with respect to a Person, another Person that directly or
indirectly controls, is controlled by or is under common control with such first Person; provided, however, that for purposes only of the term “Permitted Transferee”, the term “Affiliate” shall have the meaning
ascribed to it therein. For the avoidance of doubt, for purposes of this Agreement, including, without limitation, the definition of “Permitted Transferee,” an Affiliate of the Cerberus Funds includes, without limitation, any entity or
fund directly or indirectly controlled by the Persons that, as of the date hereof, control the Cerberus Funds. 

“Affiliated Individual” means, with respect to a Person, any individual who is an officer, director,
shareholder, employee, partner or member of such Person or an individual who is related by blood, marriage or adoption to any of the foregoing. 

“Agreement” has the meaning set forth in the Preamble. 

“Asset” means an asset owned by the Company or its Subsidiaries. 

“Bankruptcy” means, with respect to any Person, a “Voluntary Bankruptcy” or an
“Involuntary Bankruptcy”. A “Voluntary Bankruptcy” shall mean, with respect to any Person, (i) an admission in writing by such Person of its inability to pay its debts generally or a general assignment by such
Person for the benefit of creditors, (ii) the filing of any petition or answer by such Person seeking to adjudicate it bankrupt or insolvent or seeking for itself any liquidation, winding up, reorganization, arrangement, adjustment, protection,
relief or composition of such Person or its debts under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors, or seeking, consenting to or acquiescing in the entry of an order for relief or the appointment of a receiver,
trustee, custodian or other similar official for such Person or for any substantial part of its property, or (iii) corporate action taken by such Person to authorize any of the actions set forth above. An “Involuntary
Bankruptcy” shall mean, with respect to any Person, without the consent or acquiescence of such Person, the entering of an order for relief or approving a petition for relief or reorganization or any other petition seeking any
reorganization, arrangement, composition, readjustment, liquidation, dissolution or other similar relief under any present or future bankruptcy, insolvency or similar statute, Law or regulation or the filing of any such petition against such Person
which order or petition shall not be dismissed within 90 days or, without the consent or acquiescence of such 

  
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Person, the entering of an order appointing a trustee, custodian, receiver or liquidator of such Person or of all or any substantial part of the property of such Person which order shall not be
dismissed within 90 days. 
 “Budget Act” means the Bipartisan Budget Act of 2015 and any provisions of the
Code or the Regulations promulgated thereunder. 
 “Business Day” means any day other than a Saturday,
Sunday or any other day on which banks in New York City are required or permitted by Law to be closed. 

“BK” has the meaning set forth in the Preamble. 

“Call Option” has the meaning set forth in Section 5.5(e)(i). 

“Call Option Exercise Notice” has the meaning set forth in Section 5.5(e)(iii). 

“Capital Account” has the meaning set forth in Section 2.3(a). 

“Capital Call Valuation” has the meaning set forth in Section 2.2(b)(ii). 

“Capital Contribution” means, with respect to any Member, the amount of money or the value of other assets, in
each case contributed to the Company in exchange for Units in the Company. 
 “Cash Available for
Distribution” means all cash receipts and cash equivalents of the Company after deducting payments for accounts payable by the Company, amounts necessary to establish and maintain a minimum cash reserve of $2,500,000 and any other amounts
that the Management Board determines in good faith are required to be set aside for the restoration, increase or creation of reserves related to extraordinary events. 

“Cause” means, unless otherwise defined in a MIP Agreement, either (i) “cause” or such similar
term as defined in an employment agreement (or other arrangement, including, but not limited to, any severance arrangement) between the Management Member and Keane Group or its Subsidiaries; or (ii) if no such employment agreement (or other
arrangement, including, but not limited to, any severance arrangement) exists or “cause” or such similar term is not defined therein, with respect to a Management Member, as determined by Keane Group in its reasonable judgment:
(a) the Management Member’s indictment for a felony or any crime involving dishonesty, moral turpitude or theft; (b) the Management Member’s conduct in connection with his employment duties or responsibilities that is fraudulent,
unlawful or grossly negligent; (c) the Management Member’s willful misconduct; (d) the Management Member’s contravention of specific lawful directions related to a material duty or responsibility which is directed to be
undertaken from the board of directors of Keane Group or the person to whom the Management Member reports; (e) the Management Member’s material breach of the Management Member’s obligations under the Management Incentive Plan, a MIP
Agreement or any other agreement between the Management Member and Keane Group and its Subsidiaries; (f) any acts of dishonesty by the Management Member resulting or intending to result in personal gain or enrichment at the expense of Keane
Group, its Subsidiaries or Affiliates; or (g) the Management Member’s failure to comply with a material policy of Keane Group, its Subsidiaries or Affiliates. 

  
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 “CEO Manager” has the meaning set forth in
Section 3.1(b)(ii). 
 “Cerberus Contribution Loan” has the meaning set forth in
Section 2.2(b)(iii). 
 “Cerberus Funds” means, including any successors and permitted assigns,
Cerberus International II Master Fund, L.P., Cerberus Institutional Partners, L.P. – Series Four, Cerberus Institutional Partners V, L.P., Cerberus CP Partners, L.P., Cerberus MG Fund, L.P., CIP VI Overseas Feeder, Ltd. and CIP VI Institutional
Feeder, L.P. 
 “Cerberus Managers” has the meaning set forth in Section 3.1(b)(ii). 

“Cerberus Representative” means, unless otherwise designated by the Cerberus Funds, Cerberus Capital
Management, L.P., in its capacity as the representative of the Cerberus Funds. 
 “Certificate of Formation”
means the Certificate of Formation referred to in the first Recital of this Agreement and any and all amendments thereto and restatements thereof filed on behalf of the Company with the office of the Secretary of State of the State of Delaware
pursuant to the Act. 
 “Change of Control” means the first to occur of any of the following events:
(i) one Person other than the Cerberus Funds becomes the beneficial owner, directly or indirectly, of more than fifty percent (50%) of the combined voting power of the then issued and outstanding securities of Keane Group; (ii) a
reduction in the Cerberus Funds’ beneficial ownership, directly or indirectly, to less than thirty percent (30%) of the combined voting power of the then issued and outstanding securities of Keane Group, or (iii) the sale, transfer or
other disposition of all or substantially all of the business and assets of Keane Group, whether by sale of assets, merger or otherwise (determined on a consolidated basis), to one Person other than to Cerberus Funds. Notwithstanding anything herein
to the contrary, the following shall not constitute a Change of Control: (a) an initial public offering of Keane Group common stock; (b) any acquisition of Keane Group’s securities directly from Keane Group; (c) any acquisition
by Keane Group; (d) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by Keane Group or any Affiliate; and (e) any transaction described in clause (iii) above solely for equity securities of the
survivor or transferee that is publicly-traded unless the Cerberus Funds have sold at least fifty percent (50%) of the equity securities acquired by it in the survivor or the transferee in such sale of assets, merger or other disposition. 

“Class A Member” means any Member owning Class A Units, or any series or classification thereof,
according to the books and records of the Company. 
 “Class A Units” shall mean the Class A Units of
the Company representing limited liability company interests in the Company, having such rights associated with such Class A Units as set forth in this Agreement. 

  
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 “Class B Member” means any Management Member holding Class B
Units, or any series or classification thereof, according to the books and records of the Company. 
 “Class B
Units” means the Class B Units of the Company representing limited liability company interests in the Company, having such rights associated with such Class B Units as set forth in this Agreement, the Management Incentive Plan, any
Management Member’s MIP Agreement or any employment agreement with the applicable Management Member. 
 “Class C
Member” means any Member holding Class C Units, or any series or classification thereof, according to the books and records of the Company. 

“Class C Interests” has the meaning set forth in Section 2.1(d). 

“Class C Units” means the Class C Units of the Company representing limited liability company interests in the
Company, having such rights associated with such Class C Units as set forth in this Agreement. 
 “Code”
means the Internal Revenue Code of 1986, as amended from time to time. 
 “Company” has the meaning set
forth in the Preamble. 
 “Competitive Business” has the meaning set forth in Section 4.5(a). 

“Confidential Information” has the meaning set forth in Section 12.12(a). 

“Control” means, with respect to any Person, the power of another Person, through ownership of equity,
contract rights or otherwise, to direct the management and policies of such Person, and “controlled” and “controlling” have correlative meanings. 

“Covered Person” means (i) a current or former Member or Manager, a Tax Matters Member, an Affiliate of a
current or former Member or Manager, or any officer, director, shareholder, partner, member, employee, representative or agent of a current or former Member or Manager or any of their respective Affiliates and (ii) any current or former officer
of the Company or former officer of Keane Group Holdings, LLC, in each case whether or not such Person continues to have the applicable status referred to above; provided that the term “Covered Person” shall exclude any employee of
the Company or its Subsidiaries that is not a current or former officer of the Company or former officer of Keane Group Holdings, LLC. 

“Deemed Allocated Stock” has the meaning set forth in Section 3.7(c). 

“Defaulted Payment Amount” has the meaning set forth in Section 4.6(a). 

“Depreciation” means, for each taxable period, an amount equal to the depreciation, amortization or other cost
recovery deduction allowable with respect to an asset for such taxable period, except that if the Gross Asset Value of such asset differs from its adjusted basis for federal income tax purposes at the beginning of such taxable

  
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period, Depreciation shall be an amount that bears the same ratio to such beginning Gross Asset Value as the federal income tax depreciation, amortization, or other cost recovery deduction for
such taxable period bears to such beginning adjusted tax basis; provided, however, that if the adjusted basis for federal income tax purposes of an asset at the beginning of such taxable period is zero, Depreciation shall be determined
with reference to such beginning Gross Asset Value using any reasonable method selected by the Management Board. 

“Disclosing Member” has the meaning set forth in Section 12.12(c). 

“Drag-Along Rights” has the meaning set forth in Section 5.3(a)(iii). 

“Drag-Along Sale” has the meaning set forth in Section 5.3(a). 

“Dragged Member” has the meaning set forth in Section 5.3(a). 

“Dragged Members” has the meaning set forth in Section 5.3(a). 

“Dragging Member” has the meaning set forth in Section 5.3(a). 

“Effective Date” means the date of this Agreement. 

“Eligible Stockholder” has the meaning set forth in Section 5.4(a). 

“Equity Securities” means, as applicable, (i) any capital stock, membership interests or other equity
interest of any Person; (ii) any securities directly or indirectly convertible into or exchangeable for any capital stock, membership interests or other equity interest of any Person; or (iii) any rights or options directly or indirectly
to subscribe for or to purchase any capital stock, membership interests or other equity interest of any Person or to subscribe for or to purchase any securities directly or indirectly convertible into or exchangeable for any capital stock,
membership interests or other equity interest of any Person. 
 “ERISA” means the Employee Retirement Income
Security Act of 1974, as amended from time to time. 
 “Excluded Stock” has the meaning set forth in
Section 3.7(c). 
 “Exercise Period” has the meaning set forth in Section 5.4(a). 

“Exercising Member” has the meaning set forth in Section 5.4(b). 

“Existing Holder ROFO” has the meaning set forth in Section 5.6(a). 

“Existing Holder ROFO Acceptance” has the meaning set forth in Section 5.6(c). 

“Existing Holder ROFO Notice” has the meaning set forth in Section 5.6(b). 

“Existing Holder ROFO Units” has the meaning set forth in Section 5.6(a). 

  
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 “Existing Holders” has the meaning set forth in
Section 5.5(a). 
 “Fair Market Value” means, with respect to any property other than cash, the value
of such property that a buyer would be willing to pay in an arms’ length transaction between a ready and willing buyer and a seller under no compulsion to sell as determined in good faith by the Management Board. 

“Family Member” means, as to any individual Person, that Person’s spouse, sibling, child, step child,
grandchild, or parent, or the spouse of any of the foregoing, or a trust or family limited partnership, or other similar structure for the benefit of such Person or any of the foregoing. 

“Financing Sources” has the meaning set forth in Section 5.5(e)(i). 

“First Class C Threshold” means, with respect to any particular date, the amount set forth on Schedule
C attached hereto with respect to such date. 
 “Fiscal Year” means the 12-month period commencing on
January 1 and ending on December 31, or such other commencement and ending dates as the Management Board may determine. 

“Foreclosure Notice” has the meaning set forth in Section 5.5(e)(ii). 

“GAAP” means United States generally accepted accounting principles, as in effect from time to time. 

“Governmental Entity” means any federal, state, local or foreign governmental, administrative, judicial or
regulatory agency, commission, court, body, entity or authority. 
 “Gross Asset Value” means, with respect
to any asset, the asset’s adjusted basis for federal income tax purposes, except as follows: 
 (i) the initial Gross
Asset Value of any asset contributed by a Member to the Company shall be the fair market value of such asset at the time it is accepted by the Company, unreduced by any liability secured by such asset, as reasonably determined by the Management
Board; 
 (ii) the Gross Asset Values of all Assets shall be adjusted to equal their respective fair market values, unreduced
by any liabilities secured by such assets, as reasonably determined by the Management Board as of the following times: (x) the acquisition of an additional interest in the Company by any new or existing Member in exchange for more than a de
minimis Capital Contribution; (y) the distribution by the Company to a Member of more than a de minimis amount of property as consideration for an interest in the Company; and (z) the liquidation of the Company within the meaning of
Regulations Section 1.704-1(b)(2)(ii)(g); provided, however, that an adjustment described in clauses (x) and (y) of this paragraph shall be made only if the Management Board reasonably determines that such an adjustment
is necessary to reflect the relative economic interests of the Members; 

  
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 (iii) the Gross Asset Value of any Asset distributed to any Member shall be
adjusted to equal the fair market value of such asset on the date of distribution, unreduced by any liability secured by such asset, as reasonably determined by the Management Board; and 

(iv) the Gross Asset Value of all Assets shall be increased (or decreased) to reflect any adjustments to the adjusted basis of
such assets pursuant to Code Section 734(b) or Code Section 743(b), but only to the extent that such adjustments are taken into account in determining Capital Accounts pursuant to Regulations Section 1.704-1(b)(2)(iv)(m) and
paragraph (vi) of the definition of “Profits” and “Losses”; provided, however, that Gross Asset Value shall not be adjusted pursuant to this paragraph (iv) to the extent that an adjustment
pursuant to paragraph (ii) is required in connection with a transaction that would otherwise result in an adjustment pursuant to this paragraph (iv). 

If the Gross Asset Value of an asset has been determined or adjusted pursuant to paragraphs (i), (ii) or (iv) of this
definition, such Gross Asset Value shall thereafter be adjusted by the Depreciation taken into account with respect to such asset for purposes of computing Profits and Losses. 

“Held”, “Hold”, “Holder” or “Holding” means, with respect
to a specified number or percentage of the Units, being the record holder of, and having pecuniary interest in, such number or percentage of Units. 

“Imputed Underpayment” has the meaning set forth in Section 8.3. 

“Indebtedness” of any Person at any date, means without duplication, (i) all indebtedness of such Person
for borrowed money, (ii) all obligations of such Person for the deferred purchase price of property or services (other than current trade payables incurred in the ordinary course of such Person’s business, and excluding earnouts, escrows,
holdbacks and similar deferred payment obligations), (iii) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments, (iv) all indebtedness created or arising under any conditional sale or other
title retention agreement with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (v) all
capital leases of such Person, (vi) all guarantees of such Person in respect of obligations of the kind referred to in clauses (i) through (v) above, and (vii) all obligations of the kind referred to in clauses (i) through
(v) above secured by (or for which the holder of such obligation has an existing right, contingent or otherwise, to be secured by) any lien on property or assets owned by such Person, whether or not such Person has assumed or become liable for
the payment of such obligation. 
 “Indemnifiable Losses” has the meaning set forth in Section 11.1.

  
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 “Indemnitee” has the meaning set forth in Section 11.1.

 “Indemnified Party” has the meaning set forth in Section 11.5. 

“Initial Public Offering” means a bona fide underwritten initial public offering of Equity Securities of the
Company, pursuant to an effective registration statement filed under the 1933 Act (excluding registration statements filed on Form S-8, any similar successor form or another form used for a purpose similar to the intended use for such forms).

 “Initial Purchase Agreement” means that certain Amended and Restated Purchase Agreement, dated as of
March 4, 2011, by and among Keane Fracing Acquisition Corp., the Keane Parties, Keane Brothers, L.P. and other parties thereto. 

“Instrument of Accession” means an instrument of accession, a form of which is attached hereto as Exhibit
A. 
 “Investor Holdings Subsidiary” means any Subsidiary of the Company other than Keane Group and any
Subsidiary of Keane Group. 
 “Investor Members” means (i) Cerberus Funds taken as a group, as
represented by the Cerberus Representative, (ii) Trican and (iii) the Keane Parties taken as a group, as represented by the Keane Representative. 

“Involuntary Bankruptcy” has the meaning set forth in the definition of Bankruptcy. 

“KCK” has the meaning set forth in the Preamble. 

“Keane Control Group” means the Company and their respective Affiliates (as defined in Rule 12b-2 of the 1934
Act), or any person who is an express assignee or designee of their respective rights under Keane Group’s certificate of incorporation (and such assignee’s or designee’s respective Affiliates) and who is or becomes a party to the
Stockholders’ Agreement. 
 “Keane Group” means Keane Group, Inc., a Delaware corporation. 

“Keane Group Contribution and Exchange Agreement” means that certain Contribution and Exchange Agreement,
dated as of the date hereof, by and between the Company and Keane Group. 
 “Keane Group Stock” means the
common stock, par value $0.01 per share, of Keane Group acquired by the Company pursuant to the Keane Group Contribution and Exchange Agreement and Equity Securities into which such shares of common stock shall have been changed, or any Equity
Securities resulting from any reclassification, recapitalization, reorganization, merger, consolidation, conversion, stock or other equity split or dividend or similar transactions with respect to such shares of common stock or other Equity
Securities. 

  
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 “Keane Manager” has the meaning set forth in
Section 3.1(b)(ii). 
 “Keane Party” or “Keane Parties” has the meaning set forth in
the Preamble. 
 “Keane Representative” means S & K Management Services, LLC, in its capacity as the
representative of the Keane Parties. 
 “KK” has the meaning set forth in the Preamble. 

“Law” means any foreign or domestic law, statute, code, ordinance, rule, regulation, order, judgment, writ,
stipulation, award, injunction, decree or arbitration award or finding of any Governmental Entity. 
 “Major
Decision” means: 
  

	 	(i)	(x) to issue any additional Class C Units, (y) to issue any new class or series of Units that provides for distributions pursuant to Section 7.1 with priority over distributions to the Class C Members
pursuant to Section 7.1, or (z) to issue any new class or series of Units that provides for distributions pursuant to Section 7.1 with priority over distributions to the Class A Members pursuant to Section 7.1;
provided, however, that such action shall not be considered a Major Decision if, in the case of clauses (x) and (y), the Company obtains a fairness opinion from a nationally recognized investment bank or similar financial firm
indicating that the consideration proposed to be paid in respect of such issuances is fair from a financial point of view to the Company; 

  

	 	(ii)	to amend, modify or waive any provisions of this Agreement, the Certificate of Formation or the organizational documents of the Company in a manner that materially, disproportionately and adversely affects Trican or the
Keane Parties; 

  

	 	(iii)	any act in contravention of this Agreement; 

  

	 	(iv)	any action which would cause the Company (x) to become an entity other than a Delaware limited liability company, or other than a “pass through” entity for Federal income taxes or (y) to be treated
as a corporation for Federal income tax purposes; 

  

	 	(v)	changing the business purpose of the Company; 

  

	 	(vi)	making in-kind distributions with respect to any material portion of the Assets of the Company or any Investor Holdings Subsidiary other than distributions of Keane Group Stock pursuant to and in accordance with
Section 3.7(b) or Section 3.7(c); 

  

	 	(vii)	 indemnification of any Person by the Company or any Investor Holdings Subsidiary other than an Officer, Manager,
or a Member or its Affiliates in 

  
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accordance with the provisions of Article XI of this Agreement, other than any indemnification clause that is included in any contract or other agreement between the Company and any vendor or
other contracting party of the Company in the ordinary course of business; 

  

	 	(viii)	entering into any agreement (x) which would cause any Member to become personally liable on or in respect of or to guarantee any indebtedness of the Company or any Investor Holdings Subsidiary or (y) which is
not nonrecourse to such Member, except to the extent such liability or recourse is pursuant to customary carve-outs for real estate financing; 

  

	 	(ix)	causing the Company or any Investor Holdings Subsidiary (w) to make loans to any Member, (x) to accept or require additional Capital Contributions from any Member not provided for in this Agreement,
(y) to enter into any contract, arrangement or understanding with or paying any salary, fees or other compensation to, any Investor Member or any Affiliate of an Investor Member (other than as otherwise contemplated by this Agreement or as is
consistent with any employment agreement with a Member), or (z) to borrow money from a Member or its Affiliates; 

  

	 	(x)	except as otherwise expressly permitted by this Agreement, the Management Incentive Plan, any Management Member’s MIP Agreement, any employment agreement with a Management Member or in connection with the
repurchase, redemption, conversion or cancellation of Units Held by Trican pursuant to the terms of this Agreement, any redemption, repurchase or reclassification of Equity Securities of the Company, recapitalization of the Company or change in
equity structure of the Company (including, but not limited to, any equity split or reverse equity split, exchange or readjustment of shares, or restructuring or other reorganization), in each case that materially, disproportionately and adversely
affects the rights of the Members as a class; 

  

	 	(xi)	any equity incentive grants by the Company to employees or Managers, or creating any employee equity incentive program by the Company other than those equity incentives and employee equity incentive programs of the
Company in place on the Effective Date; 

  

	 	(xii)	entering into or effecting a Sale-of-the-Company, dissolution or liquidation, in each case solely with respect to the Company and not any of its Subsidiaries, other than in compliance with Section 5.3;

  

	 	(xiii)	obtaining, incurring, modifying, prepaying or refinancing any Indebtedness of the Company or any Investor Holdings Subsidiary or executing or delivering on behalf of the Company any guarantee or other agreement whereby
the Company or any Investor Holdings Subsidiary is or may become liable for any obligations of any other Person; 

  
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	 	(xiv)	requiring any additional Capital Contributions (other than pursuant to Section 2.2(b)); 

  

	 	(xv)	causing or permitting an Initial Public Offering of the Company or any Investor Holdings Subsidiary; 

  

	 	(xvi)	consenting (to the extent consent of the Management Board is required) to a Member directly or indirectly making a Transfer of all or any portion of its Units pursuant to Section 5.1; 

 

	 	(xvii)	admitting a Person as a Member, except as otherwise specifically provided in this Agreement; 

  

	 	(xviii)	permitting the withdrawal of any Member except as otherwise provided in this Agreement; 

  

	 	(xix)	approving any affiliate transaction (other than with respect to the employment of a Management Member) between the Company or any Investor Holdings Subsidiary on the one hand, and any Member or any Affiliate thereof on
the other hand; 

  

	 	(xx)	conducting any business other than (x) the purchasing, holding, voting and disposing of the Keane Group Stock and (y) taking actions permitted under the Stockholders’ Agreement not otherwise inconsistent
with this Agreement; and 

  

	 	(xxi)	taking any action in respect of the Keane Group Stock in breach of Section 3.7 or otherwise Sell any Keane Group Stock other than in accordance with Section 3.7. 

“Management Board” has the meaning set forth in Section 3.1(a). 

“Management Distributions” means all distributions to the Class B Members in any applicable fiscal year,
including, for the avoidance of doubt, any projected distributions that would be made to the Class B Members in connection with any transaction for which the First Class C Threshold, and if applicable, the Second Class C Threshold, is calculated.

 “Management Incentive Plan” means the Keane Investor Holdings LLC Management Incentive Plan, as amended
and restated, which was formerly called the “Keane Management Holdings LLC Management Incentive Plan” prior to its assignment to the Company. 

“Management Member” has the meaning set forth in the Preamble. 

“Manager” means an individual on the Management Board. 

“Member Approval” has the meaning set forth in Section 3.2(c)(i). 

  
 -13- 

 “Member Contribution and Exchange Agreements” means those
certain Contribution and Exchange Agreements, dated as of the date hereof, by and among the Company and certain Members, pursuant to which such Members contributed certain Equity Securities to the Company in exchange for Class A Units, Class B
Units and Class C Units as set forth therein. 
 “Members” has the meaning set forth in the Preamble. 

“MIP Agreement” means a written award agreement between a Management Member and Keane Management Holdings LLC,
as amended and assigned, effective on the Effective Date, to the Company as successor to Keane Management Holdings LLC. 

“New Issue Securities” has the meaning set forth in Section 5.4(a). 

“New Rules” has the meaning set forth in Section 12.2(a). 

“Non-Exercising Member” has the meaning set forth in Section 5.4(b). 

“Non-Participating Member” has the meaning set forth in Section 3.7(c). 

“Notice of Acceptance” has the meaning set forth in Section 5.4(b). 

“Observers” has the meaning set forth in Section 3.1(b)(iii). 

“Officer” means any officer of the Company appointed in accordance with this Agreement. 

“Over-allotment Notice” has the meaning set forth in Section 5.4(b). 

“Permitted Transferee” means: (i) with respect to any Member who is not a natural person, any Affiliate
of such Member (provided that for purposes of this clause (i), “Affiliate” shall mean, with respect to the Member in question, that such Member solely controls, is controlled solely by or under common control with such Affiliate
(and no Person other than the common controlling Person controls such Affiliate) and such Member or its ultimate parent owns, directly or indirectly, more than 80% of the economic interests of such Affiliate and provided further that
notwithstanding the immediately preceding proviso, Affiliates as further defined in the second sentence of the definition of Affiliate are affiliates for purposes of this clause (i); (ii) with respect to any Member who is a natural person
(including any entities or trusts formed for estate or family planning purposes by such natural person), (x) upon the death of such natural person, any Person in accordance with such natural person’s will or the Laws of intestacy;
(y) the Family Members of such natural person, entities formed for estate or family planning purposes and/or one or more trusts for the sole benefit of such natural person and/or the Family Members of such natural person, provided that
such natural person shall not be released from his obligations under this Agreement as a Member; and (iii) in the event of the dissolution, liquidation or winding up of any such Person that is a corporation, partnership or limited liability
company, the stockholders of a corporation that is such Person, the partners of a partnership that is such Person, the members of a 

  
 -14- 

 
limited liability company that is such Person or a successor corporation all of the stockholders of which or a successor partnership all of the partners of which or a limited liability company
all of the members of which are the Persons who were the stockholders of such corporation or the partners of such partnership or the members of such limited liability company immediately prior to the dissolution, liquidation or winding up of such
Person; provided further, however, that no such Transfer under any one or more of the foregoing clauses (i) through (iii) to any such Person shall be permitted where such Transfer (x) fails to comply with the
terms of Section 5.1, including, without limitation, by reason of a failure to comply in any respect with any federal or state securities Laws, including, without limitation, the 1940 Act, or (y) would result in the Company becoming
subject to the 1934 Act. 
 “Person” means any individual, corporation, association, partnership (general or
limited), joint venture, trust, joint-stock company, estate, limited liability company, Series, unincorporated organization or other legal entity or organization. 

“Pledged Units” has the meaning set forth in Section 5.5(e)(i). 

“Preemptive Right Notice” has the meaning set forth in Section 5.4(a). 

“Profits” or “Losses” means for each taxable period, an amount equal to the taxable income or
loss for such taxable period. Such amount shall be determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall
be included in taxable income or loss), with the following adjustments (without duplication): 
 (i) any income that is exempt from federal
income tax and not otherwise taken into account in computing Profits or Losses pursuant to this definition shall be added to such taxable income or loss; 

(ii) any expenditures described in Code Section 705(a)(2)(B) or treated as Code Section 705(a)(2)(B) expenditures pursuant to
Regulations Section 1.704-1(b)(2)(iv)(i), and not otherwise taken into account in computing Profits or Losses pursuant to this definition shall be subtracted from such taxable income or loss; 

(iii) in the event that the Gross Asset Value of any Asset is adjusted pursuant to paragraphs (ii) or (iii) of the definition of
Gross Asset Value, the amount of such adjustment shall be taken into account as an item of gain (if the adjustment increases the Gross Asset Value of the asset) or an item of loss (if the adjustment decreases the Gross Asset Value of the asset) from
the disposition of such asset and shall be taken into account for purposes of computing Profits or Losses; 
 (iv) gain or loss resulting
from any disposition of property with respect to which gain or loss is recognized for federal income tax purposes shall be computed by reference to the Gross Asset Value of property disposed of, notwithstanding that the adjusted tax basis of such
property differs from its Gross Asset Value; 

  
 -15- 

 (v) in lieu of depreciation, amortization, and other cost recovery deductions taken into account
in computing such taxable income or loss there shall be taken into account Depreciation for such taxable period, computed in accordance with the definition of Depreciation; and 

(vi) to the extent an adjustment to the adjusted tax basis of any Asset pursuant to Code Section 734(b) or 743(b) is required pursuant
to Regulations Section 1.704-1(b)(2)(iv)(m) to be taken into account in determining Capital Accounts as a result of a distribution other than in liquidation of a Member’s interest in the Company, the amount of such adjustment shall be
treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases the basis of the asset) from the disposition of the asset and shall be taken into account for purposes of computing Profits or
Losses. 
 “Pro Rata Portion” means, with respect to any Tag-Along Member in a Tag-Along Sale: (i) with
respect to Class A Units, such portion of its Class A Units which represents the same proportion of the total number of Class A Units owned of record by such Tag-Along Member, as the total number of Class A Units proposed to be
Sold by the Tag-Along Selling Member, represents to the total number of Class A Units owned of record by such Tag-Along Selling Member; (ii) with respect to Class B Units, such portion of its vested Class B Units which represents the same
proportion of the total number of vested Class B Units owned of record by such Tag-Along Member, as the total number of Class A Units proposed to be Sold by the Tag-Along Selling Member, represents to the total number of Class A Units
owned of record by such Tag-Along Selling Member; and (iii) with respect to Class C Units, such portion of its Class C Units which represent the same proportion of the total number of Class C Units owned of record by such Tag-Along Member that
are in-the-money as determined by the then applicable strike amount for the Class C Interests as set forth on Schedule C and Schedule D as if such Class C Units were converted to Class A Units on a fully diluted basis pursuant to
the Management Board’s reasonable good faith determination of Fair Market Value for such Units immediately prior to the Tag-Along Sale (and the Management Board may retain an independent valuation firm to make such determination), as the total
number of Class A Units proposed to be Sold by the Tag-Along Selling Member, represents to the total number of Class A Units owned of record by such Tag-Along Selling Member. 

“Proportionate Class A Unit Percentage” shall mean, with respect to any Member, the fraction the
numerator of which is the number of Class A Units then Held by such Member and the denominator of which is the aggregate number of Class A Units then Held by all Members. 

“QIB” means a “qualified institutional buyer” within the meaning of Rule 144A under the
1933 Act. 
 “Regulations” means the federal income tax regulations promulgated by the Treasury Department
under the Code, as such regulations may be amended from time to time. All references herein to a specific section of the Regulations shall be deemed also to refer to any corresponding provisions of succeeding Regulations. 

  
 -16- 

 “Representative” has the meaning set forth in Section 10.2.

 “Restricted Period” has the meaning set forth in Section 5.1(a). 

“Sale” means the direct or indirect sale, assignment, transfer or other disposition for value of
(i) beneficial ownership (as used in Rule 13d-3(a) under the 1934 Act) or (ii) the economic interest, in each case, of Units (including, without limitation, by reorganization, merger or sale of substantially all of the assets of, or
sale of beneficial ownership or the economic interest of ownership interests in, any holding company a majority of the assets of which (on a consolidated basis with its subsidiaries) consist of Units (provided that any such sale shall only
constitute a “Sale” of the pro rata portion of such underlying Units)); provided that the term “Sale” shall exclude any assignment (as collateral), mortgage, pledge, hypothecation, encumbrance or similar grant
of interest pursuant to any bona fide financing. The terms “Sell” and “Sold” have corresponding meanings. 

“Sale-of-the-Company” means the sale of all or substantially all of the consolidated assets of the Company,
whether held by the Company or one or more of its Subsidiaries and whether by way of an asset sale, direct or indirect equity interest sale, security sale, tender offer, merger, consolidation or other similar transaction. 

“Second Class C Threshold” means, with respect to any particular date, the amount set forth on Schedule
D attached hereto with respect to such date. 
 “Sell-Down” has the meaning set forth in
Section 3.7(c). 
 “Sell-Down Notice” has the meaning set forth in Section 3.7(c). 

“Selling Holder” has the meaning set forth in Section 5.6(a). 

“Side Letter” means any letter agreement between the Company and any employee of the Company or its
Subsidiaries relating to or in connection with such employee’s employment, compensation, participation in any incentive program or otherwise. In the event of any conflict between (i) a Side Letter between any employee of the Company or its
Subsidiaries and the Company and (ii) this Agreement, such Side Letter shall control with respect to such employee. 

“SJK” has the meaning set forth in the Preamble. 

“Stockholders’ Agreement” means the Keane Group Stockholders’ Agreement, dated as of the date
hereof, by and among the Company and the other parties thereto, as amended from time to time. 

“Subsidiary” of a Person means any corporation, partnership, limited liability company, trust and other
entity, whether incorporated or unincorporated, with respect to which such Person, directly or indirectly, legally or beneficially, owns (i) a right to a majority of the profits of such entity; or (ii) securities having the power to elect
a majority of the board of directors or similar body governing the affairs of such entity. 

  
 -17- 

 “Tag-Along Members” has the meaning set forth in
Section 5.2(a). 
 “Tag-Along Notice” has the meaning set forth in Section 5.2(a). 

“Tag-Along Offered Units” has the meaning set forth in Section 5.2(a)(i). 

“Tag-Along Right” has the meaning set forth in Section 5.2(a)(vi). 

“Tag-Along Sale” has the meaning set forth in Section 5.2(a). 

“Tag-Along Selling Member” has the meaning set forth in Section 5.2(a). 

“Tax Matters Member” has the meaning set forth in Section 8.1. 

“Territory” means the United States (including Alaska and Hawaii), including its territorial waters. 

“Third Party Claim” has the meaning set forth in Section 11.5. 

“Transaction Notice” has the meaning set forth in Section 4.5(a). 

“Transaction Transfer Restrictions” has the meaning set forth in Section 3.7(c). 

“Transfer” means the direct or indirect sale, lease, donation, assignment (as collateral or otherwise),
mortgage, pledge, grant, hypothecation, encumbrance, gift, bequest or other transfer or disposition of any interest (legal or beneficial) in any security (including, without limitation, transfer by reorganization, merger, sale of substantially all
of the assets, sale of interests in any entity substantially all the assets of which comprise securities subject to the restrictions in this Agreement, or by operation of law); provided that (i) the direct or indirect sale, lease,
donation, assignment (as collateral or otherwise), mortgage, pledge, grant, hypothecation, encumbrance, gift, bequest or other transfer or disposition of any securities constituting equity of a Member that does not result in a change of Control of
such Member will not be deemed a Transfer and (ii) any direct or indirect sale or transfer (whether by merger, amalgamation or reorganization) of equity interests of Trican Parent will not be deemed a Transfer so long as such sale or transfer
does not involve the Sale or Transfer of Trican’s Units separately from the direct or indirect sale or transfer of the equity interests of Trican Parent. 

“Trican” has the meaning set forth in the Preamble. 

“Trican Closing Date” means the “Closing Date” as set forth in the Trican Purchase Agreement. 

“Trican Manager” has the meaning set forth in Section 3.1(b)(ii). 

“Trican Parent” means Trican Well Service Ltd. and such other successors thereto as the ultimate parent entity
of Trican from time to time. 

  
 -18- 

 “Trican Purchase Agreement” means that certain Asset Purchase
Agreement, dated January 25, 2016, by and among the Keane Group Holdings, LLC, Trican, Trican Parent, TriLib Management LLC, Trican LLC and Keane Frac, LP, pursuant to which, among other things, Keane Group Holdings, LLC and/or Keane Frac, LP
purchased certain assets of Trican in exchange for cash and certain equity interests in Keane Group Holdings, LLC on the terms and conditions set forth therein. 

“Trican Repayment” has the meaning set forth in Section 2.2(b)(iii). 

“Trican Required Contribution” has the meaning set forth in Section 2.2(b)(iii). 

“Trican ROFO” has the meaning set forth in Section 5.5(a). 

“Trican ROFO Acceptance” has the meaning set forth in Section 5.5(c). 

“Trican ROFO Exercising Member” has the meaning set forth in Section 5.5(c). 

“Trican ROFO Non-Exercising Member” has the meaning set forth in Section 5.5(c). 

“Trican ROFO Notice” has the meaning set forth in Section 5.5(b). 

“Trican ROFO Over-allotment Notice” has the meaning set forth in Section 5.5(c). 

“Trican ROFO Units” has the meaning set forth in Section 5.5(a). 

“TK” has the meaning set forth in the Preamble. 

“Units” means the units issued by the Company representing a fractional part of the ownership of the Company
and having the rights, preferences and obligations specified in this Agreement. 
 “Voluntary Bankruptcy”
has the meaning set forth in the definition of Bankruptcy. 
 Any capitalized term not defined herein shall have the meaning ascribed to such term in the
Act. 
  

	 	Section 1.7	Certificates; Approval 

 Each Officer of the Company is an authorized Person within the
meaning of the Act to execute, deliver and file any certificates (and any amendments and/or restatements thereof) necessary for the Company to qualify to do business in a jurisdiction within the United States in which the Company may wish to conduct
business. Reuben Zaramian is hereby designated as an “authorized person” within the meaning of the Act, and has executed, delivered and filed the Certificate of Formation of the Company with the Secretary of State of the State of
Delaware. Each Officer of the Company is hereby authorized to execute and deliver any documents on behalf of the Company in connection with the Initial Public Offering and any associated restructuring of Keane Group and its Affiliates, including the
Member Contribution and Exchange Agreements and the Keane Group Contribution and Exchange Agreement, and any actions previously taken with respect thereto are hereby authorized and approved. 

  
 -19- 

	 	Section 1.8	Term 

 The term of the Company shall begin on the date the Certificate of Formation was
filed with the Secretary of State of the State of Delaware and shall continue until terminated in accordance with the provisions hereof or pursuant to the Act. 

ARTICLE II. 
 UNITS, CAPITAL 

CONTRIBUTIONS AND CAPITAL ACCOUNTS 
  

	 	Section 2.1	Units 

 (a) As of the date hereof, membership interests in the Company shall be
represented by Units, each having the rights, privileges and obligations as provided in this Agreement, including, without limitation, Class A Units, Class B Units and Class C Units. 

(b) Title to assets of the Company, whether real, personal or mixed, tangible or intangible, shall be deemed to be owned by the Company, and
no Member, individually or collectively, shall have any ownership interest in such assets or any portion thereof. 
 (c) The Units shall be
uncertificated unless the Management Board otherwise determines. 
 (d) The Class C Units issued to Trican shall initially be classified as
the “Class C Interests”. Distributions made in connection with the Class C Interests shall be made in accordance with Section 7.1. The Class C Interests shall have no scheduled date of expiration and shall convert into other
equity securities upon a dissolution, liquidation or similar event of the Company in accordance with Section 10.3. 
 (e) Class B
Units, or any classification or series thereof, are issued to each Management Member, subject to the terms of this Agreement, pursuant to the Management Incentive Plan and the Management Member’s MIP Agreement, each of which has been assigned
to, and assumed by, the Company. 
  

	 	Section 2.2	Capital Contributions 

 (a) Capital Contributions. Certain of the Members have
contributed interests in KG Fracing Acquisition Corp., KSD Newco Corp., Keane Group Holdings, LLC, Keane Management Holdings LLC, CIP VI Keane International, LLC and CIP VI Keane Overseas, LLC in exchange for certain Class A Units, Class B
Units and Class C Units of the Company. The Member’s ownership of Units as of the date of this Agreement is as reflected on Schedule B hereto. 

  
 -20- 

 (b) Additional Capital Contributions. 

(i) Other than as the Management Board determines in its reasonable discretion is necessary to pay reasonable third party (and not, for the
avoidance of doubt, any Member’s or such Member’s Affiliates) costs and expenses incurred by the Company in carrying out its business not to exceed $2,500,000 per annum, including, without limitation, liability and other insurance
premiums, expenses incurred in the preparation of reports to the Members and any third party legal, accounting and other professional fees and expenses, none of the Members shall have any further capital commitment with regard to the ongoing conduct
of the business of the Company beyond their respective initial Capital Contributions; provided, that, no requirement to fund additional capital pursuant to this Section 2.2(b) shall apply to any Management Member. 

(ii) If the Management Board determines in good faith that it is necessary or desirable for the Company to obtain additional Capital
Contributions, subject to Section 2.2(b)(i), the Management Board may at any time and from time to time request that each Class A Member make such additional Capital Contribution in cash pro rata in accordance with the percentage of
Class A Units then Held by each such Class A Members and each Class A Member may elect to make such additional Capital Contribution (provided, that to the extent not all Class A Members make such additional Capital
Contributions up to their full pro rata portion, the Class A Members that do elect to make such additional Capital Contributions may elect to make additional Capital Contributions to satisfy the Company’s request for Capital
Contributions up to their respective pro rata portion as between such Class A Members so contributing) and shall receive a number of additional Class A Units (with respect to each contributing Class A Member, in proportion to
the Class A Units held by such Class A Member prior to the additional Capital Contribution) at a value per Class A Unit calculated to reflect the Management Board’s reasonable good faith determination of Fair Market Value for
such Class A Units immediately prior to the Capital Contribution (the “Capital Call Valuation”) (and the Management Board may retain an independent valuation firm to make such determination) (the “Additional
Units”). The Company shall reflect any such additional Capital Contributions in its books and records as promptly as practicable following receipt of the relevant Capital Contribution. For the avoidance of doubt, a Class A
Member’s decision to elect not to make an additional Capital Contribution, as requested pursuant to this Section 2.2(b), shall not result in any remedy, forfeiture, penalty or payment due or owed to the Company, such decision being a
voluntary decision of each Class A Member. 
 (iii) Notwithstanding anything to the contrary, with respect to any request by the
Management Board to make any additional Capital Contributions pursuant to Section 2.2(b)(ii) that are to be contributed to the Company on or prior to March 16, 2017, Trican may elect to require the Cerberus Funds, collectively, to
contribute Trican’s respective share of such additional Capital Contributions (the “Trican Required Contribution”) and Trican shall receive from the Company all of the Additional Units issuable in connection with the Trican
Required Contribution if such election is made; provided, that such Trican Required Contribution by the Cerberus Funds shall take the form of a one-year member loan, bearing interest at a rate of 15% per annum compounded quarterly, to
the Company (the “Cerberus Contribution Loan”) and Trican shall be required to contribute to the Company the full amount of such Cerberus Contribution Loan (including accrued interest thereon) (the “Trican 

  
 -21- 

 
Repayment”) within 12 months of the date of such Cerberus Contribution Loan; provided, further, that: (i) if Trican so contributes the full amount of the Trican
Repayment (including accrued interest thereon) to the Company within 12 months of the date of the Cerberus Contribution Loan, the Company shall distribute such amount (which shall include interest paid) to the applicable Cerberus Funds, as
designated by the Cerberus Representative, in satisfaction of the Cerberus Contribution Loan; and (ii) if Trican does not so contribute the full amount of the Trican Repayment (including accrued interest thereon) to the Company within 12 months
of the date of the Cerberus Contribution Loan, then the equivalent number of Class A Units (based on the Capital Call Valuation for such Class A Units) Held by Trican equal to the amount of the Trican Repayment (including accrued interest
thereon) not so contributed to the Company shall be automatically cancelled and forfeited and the same number of Class A Units shall be issued to the applicable Cerberus Funds, as designated by the Cerberus Representative, in satisfaction of
the Trican Repayment (and accrued interest thereon). In the event that a Sale-of-the-Company or other dissolution or liquidation event of the Company occurs prior to the full Trican Repayment (including accrued interest thereon), or satisfaction
thereof in accordance with this Section 2.2(b), then any related proceeds that would otherwise be distributable to Trican in connection therewith shall be distributed to the applicable Cerberus Funds, as designated by the Cerberus
Representative, unless and until the full amount of the Cerberus Contribution Loan (including accrued interest thereon) has been repaid. 

(iv) In the event of a Trican Required Contribution by the Cerberus Funds, the Keane Parties shall have the opportunity, but not the
obligation to participate in such Trican Required Contribution by contributing up to their pro rata portion (as determined in proportion to the aggregate amount of Class A Units Held by the Cerberus Funds and the Keane Parties) of the
amount of the Cerberus Contribution Loan in exchange for their corresponding pro rata portion of the Trican Repayment (including interest thereon), in each case in accordance with the terms of Section 2.2(b)(iii). 

(c) Withholding of Distributions to Fund Capital Contributions. In the event of a secondary offering of Keane Group Stock by the
Company, the Management Board may authorize the withholding of up to $2,500,000 from the Investor Members to fund the costs and expenses of the Company in lieu of requiring contributions (to the extent of such withholding) from the Investor Members
pursuant to clause (b) above. 
 (d) Payment of Capital Contributions. Any Capital Contributions in cash made by the Members
shall be made in U.S. dollars by wire transfer of federal funds to an account or accounts of the Company specified by the Company or the Management Board. Except as otherwise provided herein, no Member shall be entitled to any compensation by reason
of its Capital Contribution or by reason of serving as a Member. No Member shall be required to lend any funds to the Company. 
  

	 	Section 2.3	Capital Accounts 

 (a) Capital Accounts. A capital account (“Capital
Account”) shall be maintained for each Member in accordance with this Section 2.3. A Member’s Capital Account shall be increased by (i) the amount of money contributed by the Member to the Company, (ii) the initial Gross
Asset Value of property contributed by the Member to the Company, as 

  
 -22- 

 
determined by the contributing Member and the Management Board (net of liabilities that the Company is considered to assume or take subject to pursuant to Code Section 752), and
(iii) allocations to the Member of Profits pursuant to Article VI. A Member’s Capital Account shall be decreased by (x) the amount of money distributed to the Member, (y) the Gross Asset Value of any property so distributed to
the Member as determined by the distributee Member and the Management Board (net of any liabilities that such Member is considered to assume or take subject to pursuant to Code Section 752), and (z) allocations to the Member of Losses
pursuant to Article VI. 
 (b) Negative Capital Account. No Member shall be required to make up a deficit balance in such
Member’s Capital Account or to pay to any Member the amount of any such deficit in any such account. 
 (c) Credit of Capital
Contribution. For purposes of computing the balance in a Member’s Capital Account, no credit shall be given for any Capital Contribution which such Member is to make until such Capital Contribution is actually made. 

 

	 	Section 2.4	Admission of New Members 

 Unless otherwise permitted under Article V, new Members may
only be admitted to membership in the Company with the approval of the Management Board. A new Member must agree in writing to be bound by the terms and provisions of the Certificate of Formation and this Agreement, each as may be amended from time
to time, and must execute a counterpart of, or an agreement adopting, this Agreement and any other related agreement as the Management Board may require. Upon admission, the new Member shall have all rights and duties of a Member of the Company;
provided, however, that such new Member shall only be entitled to such voting rights as are provided pursuant to this Agreement. 
  

	 	Section 2.5	Interest 

 No interest shall be paid or credited to the Members on their Capital Accounts
or upon any undistributed amounts held by the Company. 
  

	 	Section 2.6	Capital Withdrawal Rights, Interest and Priority 

 Except as expressly provided in this
Agreement, no Member shall be entitled to withdraw or reduce such Member’s Capital Accounts in whole or in part until the dissolution, liquidation and winding-up of the Company, except to the extent that distributions pursuant to Article VII
represent returns of capital. A Member who withdraws or purports to withdraw as a Member of the Company without the consent of all of the Members or as otherwise allowed by this Agreement shall be liable to the Company for any damages suffered by
the Company on account of the breach and shall not be entitled to receive any payment in respect of its Units in the Company or a return of its Capital Contribution until the time otherwise provided herein for distributions to Members. 

  
 -23- 

	 	Section 2.7	Management Members/Management Incentive Plan.  

 (a) A Management Member shall be
eligible to become vested in his or her Class B Units in accordance with the Management Incentive Plan, the applicable MIP Agreement and this Agreement. Any Class B Units that are forfeited by a Management Member pursuant to the terms of the
Management Incentive Plan or the applicable MIP Award Agreement shall be cancelled and cease to be issued or outstanding. Except in connection with the issuance of Class B Units to Management Members listed on Schedule A hereto on the
Effective Date in exchange for corresponding class b interests of Keane Management Holdings LLC, no Class B Units or other equity incentive grants shall be issued to employees or Managers pursuant to the Management Incentive Plan (or any similar
plan of the Company) on or after the Effective Date. 
 (b) Except as otherwise provided in a Management Member’s MIP Agreement, a
Management Member shall become vested in his or her Class B Units at such time and upon such terms and conditions as set forth below unless otherwise determined by the Manager: 

(i) Class B Units shall vest with respect to thirty-three and one-third percent (33-1/3rd
%) of the Class B Units on the first anniversary of the date on which an award under the Management Incentive Plan was granted to the Management Member and with respect to an additional thirty-three and one-third percent (33-1/3rd %) on each of the next two anniversaries thereafter (each such anniversary, a “Vesting Date”), subject to the Management Member’s continued service with the Company or its
Subsidiaries on each Vesting Date. 
 (ii) Notwithstanding the foregoing, upon a Change of Control which occurs prior to an initial public
offering of Keane Group common stock, all of a Management Member’s Class B Units, to the extent not previously forfeited or terminated, shall immediately vest. 

(iii) All unvested Class B Units shall be forfeited by a Management Member upon the termination of a Management Member’s service with
Keane Group or its Subsidiaries for any reason. Notwithstanding the foregoing, if a Management Member’s service with Keane Group or its Subsidiaries is terminated as the result of a termination of a Management Member’s employment with
Keane Group and its Subsidiaries without Cause, (i) the Management Member’s Class B Units that would have vested on the next Vesting Date following the Management Member’s termination shall vest upon such termination of employment,
and (ii) the Management Member’s remaining unvested Class B Units shall remain outstanding for a period of ninety (90) days following the date of termination and if a Change of Control occurs within such ninety (90) day period,
then all of the Management Member’s unvested Class B Units shall vest upon such Change of Control. If a Change of Control does not occur within such ninety (90) day period, the Management Member’s unvested Class B Units shall be
forfeited on the ninety-first (91st) day following the Management Member’s termination. All vested Class B Units shall be subject to repurchase by the Company or Keane Group in
accordance with Section 12 of the Management Incentive Plan. Notwithstanding the foregoing, all vested and unvested Class B Units shall be forfeited upon the termination of a Management Member’s service by Keane Group or its Subsidiaries
for Cause. 

  
 -24- 

 ARTICLE III. 

MANAGEMENT OF THE COMPANY 
  

	 	Section 3.1	Company Governance. 

 (a) Management by the Management Board. The Company hereby
establishes a Management Board for the Company (the “Management Board”), which shall have all of the powers of a board of directors of a Delaware corporation. Except as otherwise expressly provided in this Agreement, the Management
Board shall have the exclusive right and full power and authority to manage and control the business and affairs of the Company and its Subsidiaries and to take any action deemed necessary or desirable by it in connection with the business of the
Company and its Subsidiaries. 
 (b) Size; Initial Composition; Election of Managers; Term. 

(i) The authorized number of Managers on the Management Board shall be seven, subject to increase or reduction, as applicable, in accordance
with this Article III. 
 (ii) As of and after the Effective Date, subject to Section 3.1(b)(iv), the composition of the Management
Board shall consist of seven members as follows: 
  

	 	A.	Four individuals designated by the Cerberus Representative acting on behalf of the Cerberus Funds (the “Cerberus Managers”); 

 

	 	B.	One individual that, at any given time, is the Chief Executive Officer of Keane Group (the “CEO Manager”); 

  

	 	C.	One individual designated by the Keane Representative acting on behalf of the Keane Parties Holding in excess of 50% of the Class A Units then Held by the Keane Parties (the “Keane Manager”); and

  

	 	D.	One individual designated by Trican (the “Trican Manager”); and 

 In addition,
each of the Cerberus Representative, on behalf of the Cerberus Funds, Trican and the Keane Representative, on behalf of the Keane Parties Holding in excess of 50% of the Class A Units then Held by the Keane Parties, respectively, shall be
entitled to designate in advance an alternate manager, who can temporarily act in place of a Cerberus Manager, a Trican Manager or a Keane Manager, respectively, who is unable to participate in a meeting of the Management Board. Effective as of the
date hereof, (I) the names of the Cerberus Managers are Scott Wille, Lenard Tessler, Lisa Gray and Lucas Batzer, (II) the name of the CEO Manager is James Stewart, (III) the name of the Keane Manager is Shawn Keane and (IV) the name of the
Trican Manager is Dale Dusterhoft, in each case, until the earlier of their resignation or removal or until their respective successors are duly elected and qualified, as the case may be, in accordance with this Agreement. 

  
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 (iii) As of and after the Effective Date, each of the Cerberus Representative, acting on behalf
of the Cerberus Funds, Trican and the Keane Representative, acting on behalf of the Keane Parties Holding in excess of 50% of the Class A Units then Held by the Keane Parties, respectively, shall be entitled to, at its option, designate up to
two individuals in the capacity of non-voting observers (the “Observers”). The appointment and removal of any Observer shall be by written notice to the Management Board. Except to the extent that an Observer has or is reasonably
likely to have an actual or potential conflict of interest (as determined in good faith by the Management Board) with respect to the subject matter of a meeting of the Management Board or any committee of the Management Board or a portion of such
meeting, the Observer shall be permitted to attend all meetings of the Management Board or any committee of the Management Board and shall receive all materials and communications relating to such meetings as and when received by the Managers;
provided that Observers shall not have access to any portion of a meeting of the Management Board or any committee of the Management Board at which privileged and confidential information is discussed, and shall not receive any materials and
communications related thereto. The Observers shall have no authority to vote on any matter presented to the Management Board or any committee of the Management Board. 

(iv) Notwithstanding anything to the contrary, following the Effective Date: (A) if the Keane Parties as a group cease to Hold at least
50% of the Class A Units Held by the Keane Parties as of the Effective Date, the Keane Parties shall no longer be entitled to designate any individual to the Management Board under Section 3.1(b)(ii) or have any right to appoint Observers
under Section 3.1(b)(iii) and (I) shall cause any such individual so designated or appointed by them to immediately resign and (II) the size of the Management Board shall be reduced by one Manager; and (B) if Trican ceases to Hold at
least 25% of the Class A Units held by Trican as of the Effective Date, Trican shall no longer be entitled to designate any individual to the Management Board under Section 3.1(b)(ii) or have any right to appoint Observers under
Section 3.1(b)(iii) and (I) shall cause any such individual designated or appointed by them to immediately resign, and (II) the size of the Management Board shall be correspondingly reduced by one Manager. 

(v) In the event of any vacancy on the Management Board resulting from the departure of a Cerberus Manager, a Trican Manager or Keane
Manager, other than pursuant to Section 3.1(b)(iv), the Cerberus Representative on behalf of the Cerberus Funds, Trican or the Keane Representative on behalf of the Keane Parties Holding in excess of 50% of the Class A Units then Held by
the Keane Parties, respectively, shall be entitled to designate the replacement Manager. In the event that, for any reason or for no reason, the individual that is the CEO Manager is no longer the Chief Executive Officer of Keane Group, such
individual shall be deemed to have automatically resigned as the CEO Manager from the Management Board, and the resulting vacancy on the Management Board shall be filled by the individual that is thereafter appointed to the positon of Chief
Executive Officer of Keane Group. 
 (vi) Each Manager shall serve until his or her successor is duly elected or appointed and qualified,
or until such Manager’s death or disability, or until such Manager is replaced in accordance with Section 3.1(b)(v), resigns in accordance with Section 3.1(c) or is removed in accordance with Section 3.1(b)(iv) or
Section 3.1(d). 

  
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 (c) Resignation by Managers. A Manager may resign at any time by giving written notice to
the Company. Any such resignation shall take effect at the time specified in such notice or, if not so specified, immediately upon receipt of such notice by the Company. The vacancy on the Management Board caused by any such resignation shall be
filled in accordance with Section 3.1(b)(v). 
 (d) Removal of Managers. Any Cerberus Manager, Trican Manager or Keane Manager
may be removed with or without cause only with the consent of the Cerberus Representative on behalf of the Cerberus Funds, Trican or the Keane Representative on behalf of the Keane Parties Holding in excess of 50% of the Class A Units then Held
by the Keane Parties respectively. The vacancy on the Management Board caused by any such removal shall be filled in accordance with Section 3.1(b)(v). 

(e) Board Action; Quorum. Each Manager attending a meeting of the Management Board (in person or by telephone) shall have the right to
cast, on each vote taken at such meeting, one vote. Except as expressly provided in this Agreement, (i) at all meetings of the Management Board, the presence in person or by telephone of a majority of the Managers shall constitute a quorum for
the transaction of business, and (ii) at any Management Board meeting at which a quorum is present, the act of a majority of the Managers present at such meeting shall, subject to Section 3.2(c), constitute the act of the Management Board.
Any action required or permitted to be taken at a Board meeting may be taken without a meeting if a written consent is signed by all of the Managers. 

(f) Limitation on Liability of Member of the Management Board. Managers shall not, solely by reason of being a Manager, be
personally liable for the expenses, liabilities or obligations of the Company whether arising in contract, tort or otherwise. 
  

	 	Section 3.2	Authority, Duties and Obligations of the Management Board 

 (a) Except as otherwise
expressly provided in this Agreement, the Management Board shall have the authority, on behalf of the Company, to take any action or make any decisions on behalf of the Company hereunder, to carry out any and all of the purposes of the Company and
to perform all acts and enter into and perform all contracts and other undertakings which it may deem necessary or advisable or incidental thereto. 

(b) Without limiting Section 3.2(a), each of the Members, by executing this Agreement, authorizes the Company and the Management Board
to make such regulatory and other filings as shall be required in connection with the acquisition of the Keane Group Stock and the operation of the business of the Company, all without any further act, vote or approval of the Company, any Member or
any other Person notwithstanding any other provision of this Agreement, the Act or applicable Law, rule or regulation. In furtherance of the foregoing, unless otherwise directed in writing by the Management Board, the Company and the Management
Board hereby designate the Cerberus Representative to sign on behalf of the Company with respect to any such regulatory and/or other filings to be made by the Company pursuant to this Section 3.2(b). 

  
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 (c) Actions Requiring Certain Approvals. 

(i) Subject to the provision of Section 3.2(c)(ii) and Section 3.2(c)(iii), the Company shall be prohibited from taking or agreeing
to take any action constituting a Major Decision without the unanimous approval of the Investor Members Holding Class A Units. 
 (ii)
If the Keane Parties as a group cease to Hold at least 50% of the Class A Units Held by the Keane Parties as of the Effective Date, then notwithstanding the foregoing, the Company shall only be required to obtain the voting approval of a
majority of the Investor Members Holding Class A Units, including the voting approval of Trican subject to Section 3.2(c)(iii) (but not the voting approval of the Keane Representative), before taking or agreeing to take any action pursuant
to Section 3.2(c)(i) (other than with respect to items (i), (ii), (iv), (v), (viii)-(xi) and (xiv) of the definition of Major Decision). 

(iii) If Trican ceases to Hold at least 50% of the Class A Units Held by Trican as of the Effective Date, then notwithstanding the
foregoing, the Company shall only be required to obtain the voting approval of a majority of the Investor Members Holding Class A Units, including the voting approval of the Keane Representative subject to Section 3.2(c)(ii) (but not the
voting approval of Trican), before taking or agreeing to take any action pursuant to Section 3.2(c)(i) (other than with respect to items (i), (ii), (iv), (v), (viii)-(xi) and (xiv) of the definition of Major Decision). 

(iv) During the occurrence of any enforcement of any financial covenant or obligation in which a lender or financing source may exercise
voting rights with respect to any pledged or encumbered Units, or other security event affecting Trican or Trican Parent and the enforcement of such security event that results in the Transfer of any Units or equity interests in the Company from
Trican or Trican Parent, the Company shall only be required to obtain the voting approval of a majority of the Investor Members Holding Class A Units and Trican’s (or if applicable in such security event, Trican’s or Trican
Parent’s lender or financing source so enforcing its rights in such security event), voting, consent, veto and appointment rights shall not be required before taking or agreeing to take any action under this Agreement, including pursuant to
Article III and Article IV. Trican shall cause, and shall cause Trican Parent to cause, any lender or financing source holding any pledge or other similar encumbrance over any of Trican’s or Trican Parent’s direct or indirect equity
interests in the Company to acknowledge the terms of this Section 3.2(c)(iv). 
  

	 	Section 3.3	Other Activities of the Members of the Management Board 

 The members of the Management
Board shall devote as much of their time to the affairs of the Company as in the judgment of the members of the Management Board the conduct of the Company’s business shall reasonably require, and the members of the Management Board shall not
be obligated to do or perform any act or thing in connection with the business of the Company not expressly set forth herein. Nothing contained in this Agreement shall be deemed to preclude the members of the Management Board from engaging directly
or indirectly in any other business or from directly or indirectly purchasing, selling, holding or otherwise dealing with any securities for the account of any such other business, for its own accounts or for other clients. No Member shall, by
reason of being a Member, have any right to participate in any manner in any profits or income earned, derived by or accruing to the members of the 

  
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Management Board or any of their Affiliates from the conduct of any business other than the business of the Company (to the extent provided herein) or from any transaction in securities effected
by the members of the Management Board or any of their Affiliates for any account other than that of the Company. 
  

	 	Section 3.4	Management Board Certifications 

 Any Person dealing with the Company may rely (without
duty of further inquiry) upon a certificate issued by the Company that is signed by any Manager or any of the Officers as to any of the following: 

(a) the identity of any Member or Officer or other agent of the Company; 

(b) the existence or nonexistence of any fact or facts which constitute(s) a condition precedent to acts by the Management Board or the
Members; 
 (c) the Person or Persons authorized to execute and deliver any instrument or document of the Company; or 

(d) any act or failure to act by the Company or any other matter whatsoever involving the Company. 

 

	 	Section 3.5	Voting Rights of Members 

 (a) Except as expressly provided in this Agreement or
otherwise required by the Act, Members shall have no voting rights; provided, however, that the Holders of Class A Units (other than Holders that became Holders as a result of a Transfer that was not in compliance with the terms
and conditions of this Agreement) shall be entitled to one vote per Class A Unit (other than Class A Units that are Held as a result of a Transfer that was not in compliance with the terms and conditions in this Agreement) Held by such
Holder on all matters (if any) on which such Class A Members are entitled to vote pursuant to this Agreement and the Act; provided, further, that Class B Members and Class C Members shall have no voting rights. In the event any
Member shall transfer less than all of its Class A Units to an unaffiliated third party or any other Member in a transaction or in a series of transactions then the portion of such Member’s votes that is equal to the portion of such
Member’s Class A Units transferred shall be deemed cancelled and the transferee (if an unaffiliated third party) in such transfer shall not be a Member. In the event any Member shall transfer all its Class A Units held on the date of
such transfer to an unaffiliated third party or any other Member in a transaction or in a series of transactions, then all of the votes of its Class A Units on the date of such transfer shall be deemed to have been transferred to such
transferee upon the satisfaction of the conditions contained in Article V. Notwithstanding the foregoing, if at any time a Member (x) shall transfer more than 50% of such Member’s Class A Units (excluding, however, transfers made by
such Member to a Permitted Transferee), (y) with respect to an Investor Member, ceases to be controlled by their respective controlled Affiliates as of the date hereof, as applicable or (z) shall be in default with respect to its
obligations to fund additional Capital Contributions pursuant to Section 2.2 above, the remaining votes of such Member shall be deemed cancelled and such Member shall have no voting rights except as otherwise required by the Act;
provided, that in the 

  
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case of clause (z), (A) to the extent a Member elects to treat its obligation to fund capital as a loan and such Member repays all such loans (including all interest thereon) within 15 days,
the voting rights of such Member shall be reinstated and (B) to the extent a Member elects to treat its obligation to fund capital as a Capital Contribution, the Company shall provide notice to such Member on the next Business Day indicating
such election and the voting rights of such Member shall be deemed cancelled if the Member does not provide its Capital Contribution to the Company within 15 days after receipt of such notice. 

(b) Any action by the Class A Members shall require the affirmative vote or written consent of the majority of the voting power with
respect to the Class A Units of the Class A Members entitled to vote, voting together as one class, except as otherwise set forth Section 12.2. Notwithstanding anything in this Agreement to the contrary, this Section 3.5(b) shall
not be amended without the unanimous consent of the Class A Members. Meetings of the Members may be called only by the holders of a majority of the outstanding Class A Units or a majority of the Management Board. A meeting shall be held at
a time and place determined by the Management Board in its sole discretion. 
 (c) To the extent a vote, action or approval of the Keane
Parties, or the Class A Units Held by the Keane Parties, is required pursuant to this Agreement or the Act, the Keane Representative shall vote or provide such approval on behalf of all such Keane Parties at the direction of the Keane Parties
that collectively Hold in excess of 50% of the Class A Units Held by all of the Keane Parties immediately prior to such vote or approval. 

(d) To the extent a vote, action or approval of the Cerberus Funds, or the Class A Units Held by the Cerberus Funds, is required
pursuant to this Agreement or the Act, the Cerberus Representative shall vote or provide such approval on behalf of all such Cerberus Funds at the direction of the Cerberus Funds that collectively Hold in excess of 50% of the Class A Units Held
by all of the Cerberus Funds immediately prior to such vote or approval. 
  

	 	Section 3.6	Cost of Services; Expenses 

 Subject to Section 3.5 above, Members shall be entitled
to reimbursement of their third party out-of-pocket costs and expenses, upon presentation of reasonable documentation with respect to such expenses incurred by such Member, in connection with providing services to the Company. The Company shall be
responsible for paying, and, except as otherwise contemplated by this Agreement, the Management Board shall pay directly out of Company funds, all reasonable third party costs and expenses incurred by the Company in carrying out its business,
including, without limitation, liability and other insurance premiums, expenses incurred in the preparation of reports to the Members and any legal, accounting and other professional fees and expenses incurred by the Company. 

 

	 	Section 3.7	Certain Provisions Relating to Keane Group Stock. 

 (a) Each of the Members hereby
agrees and authorizes the Company and the Management Board to, in the Company’s and/or the Management Board’s sole discretion exercised in good faith, at any special or any general meeting of the stockholders of Keane Group, vote or direct
the voting of, the Keane Group Stock. 

  
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 (b) Except as otherwise provided in the following sentence, after the date upon which the Keane
Control Group holds less than 35% of the issued and outstanding common stock of Keane Group in the aggregate, subject to compliance with applicable securities Laws (including any blackout periods then in effect), the Management Board may cause the
Company to distribute the Keane Group Stock to the Members in accordance with the distributions that such Members would be entitled to pursuant to Section 7.1. 

(c) In the event the Company proposes to effect a private block sale, resale or to demand or participate in a registered offering of Keane
Group Stock (a “Sell-Down”), the Company shall promptly provide written notice to each Member, specifying (i) the amount and percentage of Keane Group Stock then held by the Company to be sold in such Sell-Down, (ii) the
estimated amount of Keane Group Stock allocable to such Member (as determined by the Management Board in good faith, taking into account the priority of distributions pursuant to Section 7.1 in the event that all of such proposed block of the
Keane Group Stock were sold as of such date, at the market price for such Keane Group Stock in effect on such date) that will be sold in such Sell-Down (a Member’s “Deemed Allocated Stock”) and (iii) all other material
terms and conditions of the Sell-Down (the “Sell-Down Notice”). Each Member’s Deemed Allocated Stock shall be sold in such Sell-Down and the proceeds with respect to such Sell-Down shall be distributed to the applicable Members
deemed participating in the sale in accordance with Section 7.1 (calculated using the actual market price on the date of sale and excluding all Non-Participating Members from the distribution calculation), unless such Member delivers a written
notice to the Company by the close of business on the date which is 10 Business Days after the Sell-Down Notice is delivered to such Member, which such notice shall include the amount of Deemed Allocated Stock such Member elects to exclude from such
Sell-Down (the “Excluded Stock”, and such notifying Member, the “Non-Participating Member”). Any Member that does not deliver such notice shall have its Deemed Allocated Stock sold in the Sell Down. If any Member
elects not to have its Deemed Allocated Stock sold in such Sell-Down, the Company shall, unless prohibited by applicable Law, promptly distribute the Excluded Stock to the Non-Participating Member, provided, that (i) the
Non-Participating Member complies with the provisions of Section 3.7(d) and (ii) the Excluded Stock shall be subject to the same restrictions on transfer, market stand-off and lock-up provisions to which the Keane Group Stock of the
Company to be sold in the Sell-Down are subject in the Stockholders’ Agreement and with respect to such Sell-Down (the “Transaction Transfer Restrictions”). Subject to compliance with applicable Law, the Excluded Stock may be
sold or otherwise disposed of by the Member so long as no Transaction Transfer Restriction period is in effect. The fees and expenses incurred by the Company in connection with such Sell-Down, other than any underwriter’s fees and expenses,
shall be borne pro rata by the Members, including the Non-Participating Members. The Company shall provide notice to such Non-Participating Member or its representatives of its intention to effect a Sell-Down not more than 30 calendar days
prior to the intended date for the completion of such Sell-Down, in which event the Non-Participating Member, after receiving notice of such sale, shall have the right to participate in such Sell-Down with the Company on the same terms and
conditions as the Company pro rata based on the Non-Participating Member’s beneficial ownership of Keane Group Stock (including any Excluded Stock and other Deemed Allocated Stock, if any, allocated to such Non-Participating Member), or,
if not participating in such Sell-Down, shall not sell or otherwise dispose of the Excluded Stock (or other Keane Group Stock beneficially owned by such Member) during such 30 calendar day period following delivery of such notice and such longer
transfer, market stand-off or lock up 

  
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provision that the Company and/or its Members shall become subject to in connection with such Sell-Down, and fees and expenses incurred by the Company, other than any underwriter’s fees and
expenses, shall be borne pro rata by the Members, including any Non-Participating Member participating in such Sell-Down with respect to any Keane Group Stock beneficially owned by such Non-Participating Member. For the avoidance of doubt,
distributions of Excluded Stock in connection with a Sell-Down shall be taken into account and treated in the same manner as the distribution of proceeds with respect to Deemed Allocated Stock in such Sell-Down when determining the amount of
subsequent distributions pursuant to Section 7.1. 
 (d) Any Member who receives a distribution of Keane Group Stock shall, to the
extent not already a party to the Stockholders’ Agreement, execute and deliver a joinder agreement, in form and substance reasonably acceptable to the Keane Group, agreeing to be bound by the terms and conditions of the Stockholders’
Agreement. Subject to compliance with applicable securities Laws and rules and for so long as no Transaction Transfer Restriction period or Keane Group black-out period (including periods during which Keane Group insiders are restricted from trading
under an insider trading policy adopted by Keane Group or other “special” black-out period) is then in effect with respect to such Member, a Member may make a subsequent distribution of Excluded Stock to an equityholder of such Member
(A) free of any obligations set forth in this Agreement and the Stockholders’ Agreement and (B) free of any restrictive legend other than restrictions relating to applicable securities rules and Laws. For the sake of clarity, any
equityholder of a Member to whom Excluded Stock is distributed pursuant to the preceding sentence may make transfers without restriction other than restrictions relating to applicable securities rules and Laws. 

(e) As of the Effective Date, the Company’s initial nominees to the board of directors of Keane Group are James Stewart, Lucas Batzer,
James Geisler, Lisa Gray, Shawn Keane, Lenard Tessler, Scott Wille, Dale Dusterhoft, Marc Edwards, Gary Halverson and Elmer Reed. From and after the designation of the initial nominees set forth in the previous sentence, each Investor Member (for so
long as it has a right to designate a director) shall have the right to select its own nominee or nominees to the board of directors of Keane Group in place of its initial nominee, provided, that such nominee (i) is affiliated with such
Investor Member, (ii) satisfies the Director Requirements (as such term is defined in the Stockholders’ Agreement) and (iii) is otherwise not disqualified (in the reasonable determination of the Management Board) from serving as a
director on the board of directors of Keane Group. 
 (f) For so long as Keane Group is a controlled company of the Keane Control Group
under the NASDAQ Listing Rules (the “50% Trigger Date”), the Company’s appointees to the board of directors of Keane Group will include six (6) designees of the Cerberus Funds (if the Cerberus Representative so requests),
one (1) designee from Trican (if Trican so requests) and the Chief Executive Officer of Keane Group, and such appointees will be selected by the affirmative vote of members of the Management Board. 

(g) From and after the 50% Trigger Date, for so long as the Keane Control Group has beneficial ownership of at least 35% of the common stock
of Keane Group, such that the Company is entitled to appoint five (5) members to the board of directors of Keane Group, the Company’s appointees to the board of directors of Keane Group will include four (4) designees of the Cerberus
Funds (if the Cerberus Representative so requests) and one (1) designee from Trican (if Trican so requests), and such appointees will be selected by the affirmative vote of members of the Management Board. 

  
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 (h) Until immediately prior to the time at which the Keane Control Group ceases to have
beneficial ownership of at least 50% of the common stock of Keane Group, the Keane Control Group shall cause its directors appointed to the board of directors of Keane Group to vote in favor of maintaining an 11-person board of directors. For
so long as Keane Control Group has beneficial ownership of less than 50% but at least 35% of the common stock of Keane Group, Keane Control Group shall, unless otherwise determined by the Management Board in accordance with this Agreement, cause its
individuals designated to the board of directors of Keane Group to vote in favor of maintaining the size of the board of directors at 11 individuals. 

(i) Nominees by the Company to the board of directors of Keane Group shall include a sufficient number of individuals who are
“independent” for purposes of the NASDAQ Listing Rules if the board of directors of Keane Group is so required to comply with such rules. 

ARTICLE IV. 
 GENERAL GOVERNANCE

  

	 	Section 4.1	No Fiduciary Duties 

 Any duties (including fiduciary duties) of a Covered Person to the
Company or to any other Covered Person that would otherwise apply at law or in equity are hereby eliminated to the fullest extent permitted under the Act and any other applicable Law, provided that (i) the foregoing shall not eliminate the
obligation of each Member to act in compliance with the express terms of this Agreement and (ii) the foregoing shall not be deemed to eliminate the implied contractual covenant of good faith and fair dealing or any liability for acts or
omissions involving willful misconduct or knowing violations of criminal law. Notwithstanding anything to the contrary contained in this Agreement, each of the Members hereby acknowledges and agrees that each Manager, in determining whether or not
to vote in support of or against any particular decision for which the Management Board’s consent is required, may act in and consider the best interest of the Member or Members who designated such Manager and shall not be required to act in or
consider the best interests of the Company, any Subsidiary of the Company or any other Members. For the avoidance of doubt, no Member or Manager shall have any duty to disclose to the Company or the Management Board confidential information
regarding any corporate opportunity or other potential investment in such Member or Manager’s possession even if it is material and relevant information to the Company and/or the Management Board and neither such Member nor such Manager shall
be liable to the Company or the other Members for breach of any duty (including the duty of loyalty and any other fiduciary duties) as a Manager or Member by reason of such lack of disclosure of such confidential information. The provisions of this
Agreement, to the extent that they restrict or eliminate the duties (including the duty of loyalty and other fiduciary duties) and liabilities of a Manager otherwise existing at law or in equity or by operation of this Section 4.1, are agreed
by the Members to replace such duties and liabilities of such Manager. If a Manager acquires 

  
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knowledge of a potential transaction or matter that may be a business opportunity for both the Member (or an Affiliate of the Member) that has the right to designate such Manager hereunder and
the Company or another Member, such Manager shall have no duty to communicate or offer such business opportunity to the Company or any other Member and shall not be liable to the Company or the other Members for breach of any duty (including any
fiduciary duties) as a Manager by reason of the fact that such Manager directs such opportunity to the Member or an Affiliate of the Member that has the right to designate such Manager or any other Person, or does not communicate information
regarding such opportunity to the Company, and any such direction of an opportunity by such Manager, and any action with respect to such an opportunity by such Member or Affiliate of such Member, shall not be wrongful or improper or constitute a
breach of any duty hereunder, at law, in equity or otherwise. 
  

	 	Section 4.2	Information 

 The Company shall provide to each Investor Member: 

(a) as soon as available after the end of each calendar month following the Effective Date, but in no event later than 30 days after the end
of such calendar month, copies of: 
 (i) unaudited consolidated balance sheets of the Company and its subsidiaries as of the end of such
calendar month; and 
 (ii) unaudited consolidated statements of income and cash flows of the Company and its subsidiaries for such
calendar month and for the portion of the Fiscal Year ending with such calendar month; 
 in each case prepared in accordance with GAAP;

 (b) as soon as available after the end of each fiscal quarter following the Effective Date, but in no event later than 30 days
after the end of such fiscal quarter, copies of: 
 (i) unaudited consolidated balance sheets of the Company and its subsidiaries as of the
end of such quarter; and 
 (ii) unaudited consolidated statements of income and cash flows of the Company and its subsidiaries for such
quarter and for the portion of the Fiscal Year ending with such quarter; 
 in each case prepared in accordance with GAAP; 

(c) as soon as available after the end of each Fiscal Year, but in no event later than 75 days after the end of such fiscal year, copies of:

 (i) audited consolidated balance sheets of the Company and its subsidiaries as of the end of such Fiscal Year; and 

  
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 (ii) audited consolidated statements of income and cash flows of the Company and its
subsidiaries for such Fiscal Year; 
 in each case prepared by a “Big 4” accounting firm selected by the Management Board, in
accordance with GAAP and accompanied by an opinion thereon of the independent certified public accountants of the Company; 
 (d) as soon
as available after the end of each Fiscal Year, but in no event later than 90 days after the end of such Fiscal Year, a U.S. federal income tax Schedule K-1 for such Investor Member and a report setting forth in sufficient detail to enable each
Investor Member to prepare its U.S. federal income tax return, if any. The Company shall mail such materials (i) to each Investor Member and (ii) upon request, to each former Investor Member (or its successors, assigns, heirs or personal
representatives) that may need such information in preparing its U.S. federal income tax return; 
 (e) as promptly as reasonably
practicable after preparation of the same, a copy of the proposed annual operating budget for the upcoming Fiscal Year, with a reconciliation of actual expenditures against the annual operating budget to be provided as promptly as practicable on a
quarterly basis; and 
 (f) as promptly as reasonably practicable after preparation of the same, copies of any business plans, monthly
estimated cash positions and monthly estimated inventory levels for the Company and its Subsidiaries. 
 (g) In addition, so long as Trican
Parent is subject to continuous disclosure requirements and to the extent any financial and operating information prepared by the Company or its Subsidiaries in the ordinary course of business is material to Trican Parent under applicable Canadian
securities laws, the Company or its Subsidiaries will, subject to Section 12.12(e), on a timely basis after reasonable notice from Trican Parent, in order for Trican Parent to prepare its continuous disclosure documents and other regulatory
filings in Canada in compliance with the filing deadlines under such laws, provide to Trican and Trican Parent such financial and operating information, and only such information, regarding the Company as Trican Parent requires to fulfil its
continuous disclosure requirements and other filing requirements under such applicable Canadian securities laws and to comply with Canadian tax laws, and shall direct the auditor of the Company (at the expense of Trican or Trican Parent) to
cooperate with and provide assistance to Trican and Trican Parent to the extent required by Trican Parent in the preparation of Trican Parent’s continuous disclosure documents and other regulatory filings. 

 

	 	Section 4.3	Access 

 The Company shall, and shall cause its Officers, directors, employees, auditors
and other agents to, afford the officers, employees, auditors and other agents of the Investor Members, during normal business hours and upon reasonable notice, reasonable access to the Company’s Officers, employees, auditors, legal counsel,
properties, offices and other facilities and to all books and records of the Company. 

  
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	 	Section 4.4	Standard of Care 

 Each Member expressly acknowledges that an interest in the Company is
highly speculative in nature. The Management Board shall exercise all of its powers and duties under this Agreement in accordance with the terms of this Agreement and with a degree of skill, diligence, prudence and care which, and in a manner which,
a director of a Delaware corporation is required to use in the proper discharge of such a director’s fiduciary duties; provided, however, that in the event that a Manager is also an officer or a member of the board of directors of
Keane Group, this Section 4.4 shall not restrict such Manager from exercising his fiduciary duties as an officer or a member of the board of directors of Keane Group. 
  

	 	Section 4.5	Non-Competition 

 (a) During the period commencing on the Effective Date and continuing
until the earlier of (A) March 16, 2018 and (B) the date that Trican Parent ceases to directly or indirectly own at least 5% of the issued and outstanding Class A Units and 100% of the issued and outstanding Class C Units, Trican
and its Affiliates shall not directly or indirectly: (i) compete with the Company or its Subsidiaries in the Territory in the oil field services business; (ii) have an interest in any Person that competes in the Territory directly or
indirectly with the Company or its Subsidiaries in any capacity (a “Competitive Business”), including as a partner, shareholder, member, employee, principal, agent, trustee or consultant; or (iii) knowingly interfere in any
respect with the business relationships (whether formed prior to or after the date of this Agreement) between the Company and its Subsidiaries, on the one hand, and any of their respective customers, suppliers or partners, on the other hand;
provided, however, that the foregoing shall not prohibit, or be interpreted as prohibiting, Trican Parent and its Affiliates from (1) conducting activities constituting or relating to the Excluded Businesses, the Excluded Assets
and the Excluded Liabilities (as such terms are defined in the Trican Purchase Agreement); (2) making equity investments in publicly owned companies which constitute a Competitive Business, provided such investments do not exceed 10% of
the outstanding common equity of such publicly owned companies or (3) entering into any licensing or other agreements relating to the intellectual property of Trican Parent and its Affiliates; provided, that such licensing or other
agreements are in compliance with, and do not breach or violate, the Intellectual Property License Agreement (as defined in the Trican Purchase Agreement). Notwithstanding the foregoing, nothing contained in this Section 4.5(a) or elsewhere in
this Agreement shall prevent a Person that acquires all of the equity interests of Trican Parent (whether by acquisition of equity interests, merger or otherwise) from continuing to conduct its and its Affiliates business and operations in and
outside of the Territory; provided, that in the event a Person consummates an acquisition, directly or indirectly, of all or substantially all of the assets of Trican or a majority of the common equity interests of Trican (whether by
acquisition of equity interests, merger or otherwise), Trican shall provide notice of such sale transaction (the “Transaction Notice”) no later than three days after the consummation of such acquisition transaction and the Company
shall have the option, but not the obligation, upon notice to Trican delivered no later than 60 days after receipt of the Transaction Notice, to purchase the Units formerly Held by Trican prior to such sale transaction (including the Class C Units)
for Fair Market Value (and in the case of Class C Units, such Fair Market value shall be calculated as if such Class C Units were converted to Class A Units on a fully diluted basis based on the Fair Market Value for such Units immediately
prior to exercise of this purchase option) 

  
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(as determined by an independent valuation firm selected by the Management Board (unless a prior valuation has been undertaken in the 30 day period prior to such calculation of Fair Market Value,
in which case Fair Market Value shall be based on such prior valuation)). 
 (b) During the period commencing on the Effective Date and
continuing until March 16, 2018, the Cerberus Funds, the Company and their respective Controlled Affiliates shall not directly or indirectly (A) compete with Trican Parent or its Affiliates in Canada in the oilfield services business,
(B) have an interest in any Person that competes directly or indirectly in Canada with Trican Parent or its Affiliates, including as a partner, shareholder, member, employee, principal, agent, trustee or consultant (other than (x) with
respect to any industrial services or completion tools business and (y) Persons so competing with Trican Parent or its Affiliates with less than 25% of revenue in the prior fiscal year attributable to such Person’s Canadian operations,
provided that the Cerberus Funds, the Company or their respective Affiliates (as applicable) substantially divest the Canadian assets or operations of such Person within 180 days of acquiring such Person) or (C) knowingly interfere in
any respect with the business relationships (whether formed prior to or after the date of this Agreement) between Trican Parent and its Subsidiaries, on the one hand, and any of their respective customers, suppliers or partners, on the other hand;
provided, however, that the foregoing shall not (i) restrict the Cerberus Funds and its Affiliates (other than the Cerberus Managers and those personnel of Cerberus Capital Management, L.P. and Cerberus Operations &
Advisory Company LLC that are directly involved in monitoring the investment in the Company) from participating in any distressed debt and lending transactions (including debt to equity conversions) and (ii) prohibit or be interpreted as
prohibiting the Cerberus Funds, the Company or any of their respective Controlled Affiliates from making equity investments in any publicly owned company (provided such investment does not exceed 10% of the outstanding common equity of such
publicly owned company) or, in the case of the Cerberus Funds and its Controlled Affiliates (other than the Company), from receiving any customary “equity kicker” in connection with a debt investment in any Person. Notwithstanding the
foregoing, nothing contained in this Section 4.5(b) or elsewhere in this Agreement shall prevent a Person that acquires the equity interests of all of the Company (whether by acquisition of equity interests, merger or otherwise) from continuing
to conduct its and its Affiliates business and operations in and outside of the Territory. 
 (c) Each of Trican, the Company and the
Cerberus Funds acknowledges and agrees that the time, scope, geographic area and other provisions of this Section 4.5 have been specifically negotiated by sophisticated commercial parties and agree that all such provisions are reasonable under
the circumstances of the transactions contemplated hereby. It is the intention of the parties that if any of the provisions contained in this Section 4.5 are held to cover a geographic area or to be for a length of time that is not permitted by
applicable Law, or is in any way construed to be too broad or to any extent invalid, such provisions shall not be construed to be null, void and of no effect, but to the extent such provision would then be valid or enforceable under applicable Law,
such provisions shall be construed and interpreted or reformed to provide for a restriction or covenant having the maximum enforceable geographic area, time period and other provisions as shall be valid and enforceable under applicable Law. 

  
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 (d) Each of Trican, the Company and the Cerberus Funds further acknowledges and agrees that, in
the event of a breach or threatened breach of any of the provisions of this Section 4.5, Trican, the Company or the Cerberus Funds (as applicable) shall be entitled to immediate injunctive relief, as any such breach would cause irreparable
injury for which such party would have no adequate remedy at law. Nothing contained in this Section 4.5 shall be construed so as to prohibit Trican, the Company or the Cerberus Funds or any of their respective Affiliates from pursuing any other
remedies available to them under this Agreement, at law or in equity for any such breach or threatened breach. 
 (e) Keane Group shall be
an express third-party beneficiary under this Section 4.5 and the Members hereby acknowledge and agree that Keane Group shall be entitled to enforce the provisions of this Section 4.5. 

 

	 	Section 4.6	Reduction of Trican Class A Units 

 (a) Notwithstanding anything to the contrary,
in the event that Trican or any of its Affiliates fail to pay, or cause to be paid, amounts due under the Trican Purchase Agreement pursuant to Section 3.8 of the Trican Purchase Agreement prior to the Final Payment Date (as defined in the
Trican Purchase Agreement) (the “Defaulted Payment Amount”), the number of Class A Units Held by Trican shall be immediately and automatically, without further action of the Company or any other Person, be reduced by the number
of Class A Units (or fraction thereof) as set forth in Section 3.8 of the Trican Purchase Agreement, which shall have a value equal to the Defaulted Payment Amount, with the value of each such Class A Unit calculated in accordance
with the good faith determination of the Management Board, based on the Implied Default Valuation (as defined in the Trican Purchase Agreement) divided by 1,000,000; provided, that the Members agree to treat (and will cause each of their
respective Affiliates to treat) such reduction in Class A Units as an adjustment to the Purchase Price (as described in Section 3.1 of the Trican Purchase Agreement) for all tax purposes. Within ten days following the Final Payment Date,
the Company shall submit a notice to Trican in accordance with Section 10.6 of the Trican Purchase Agreement setting forth, in reasonable detail, the calculation of any such reduction and the number of Class A Units Held by Trican (and the
fully diluted percentage ownership thereof) after taking into account such cancellation in accordance with this Section 4.6. In connection with such cancellation, Trican shall forfeit any right to any amounts due or owed with respect to such
cancelled Class A Units. Notwithstanding anything to the contrary, for purposes of this Section 4.6, references in the Trican Purchase Agreement to “Keane Common Equity Units” and “Class A Units” shall be deemed to
refer the Class A Units under this Agreement. 
 (b) Promptly following the reduction in the number of Class A Units Held by
Trican in accordance with Section 4.6(a), the Company shall contribute to Keane Group the corresponding number of shares of Keane Group Stock then Held by the Company equal to the product of (i) the number of shares of Keane Group Stock
then Held by the Company, multiplied by (ii) a fraction, (A) the numerator of which is the number of Class A Units Held by Trican that were reduced in accordance with Section 4.6(a) and (B) the denominator of which is the
aggregate number of Class A Units Held by all Members immediately prior to the reduction of Class A Units Held by Trican in accordance with Section 4.6(a). 

  
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 ARTICLE V. 

TRANSFERS OF UNITS; PREEMPTIVE RIGHTS 
  

	 	Section 5.1	Restrictions on Transfer 

 (a) From the date hereof until March 16, 2018 (the
“Restricted Period”), none of the Keane Parties may Transfer any Units unless such Transfer is approved by the Management Board or in connection with Section 5.2 as a Tag-Along Member, Section 5.3 as a Dragged Member or
Section 5.6 as part of an Existing Holder ROFO. During the period following the expiration of the Restricted Period, no Keane Party shall Transfer any Units without the approval of the Management Board other than: 

(i) a Transfer pursuant to Section 5.2 as a Tag-Along Member or Section 5.3 as a Dragged Member or a Transfer pursuant to
Section 5.6 as part of an Existing Holder ROFO; or 
 (ii) a Transfer to another Member, its Affiliates, or its Family Members. 

(b) During the Restricted Period, Trican may not Transfer any Class A Units or Class C Units unless such Transfer is approved by the
Management Board (provided Trican may pledge or otherwise encumber any Units Held by it to any lenders or financing sources in compliance with this Agreement) or in connection with Section 5.2 as a Tag-Along Member, Section 5.3 as a
Dragged Member, Section 5.5 as part of a Trican ROFO, a transfer to a wholly-owned Subsidiary of Trican Parent (provided, that if such Subsidiary is to become no-longer so wholly-owned, such Units Held by it must be Transferred to a
wholly-owned Subsidiary of Trican Parent prior to such Subsidiary no longer being so wholly-owned), or a Sale or Transfer of all or substantially all of the assets of Trican in one or a series of related transactions (including any direct or
indirect Sale or Transfer, whether by merger, amalgamation or reorganization, of equity interests of Trican Parent) that do not involve the Sale or Transfer of Trican’s Units separately from the Sale or Transfer of all or substantially all of
the assets of Trican. 
 (c) Notwithstanding Section 5.1(a), except as otherwise approved by the Company, a proposed Transfer shall
not be effective: 
 (i) until the proposed transferee, if not already a party hereto, has executed an Instrument of Accession and any
other standard and customary documentation as may be required by the Company; 
 (ii) if the proposed transferee is not an “accredited
investor” as defined in Rule 501(a) of Regulation D under the 1933 Act; or 
 (iii) if such Transfer does not comply with
Section 5.1(e). 

  
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 (d) Except as expressly provided in this Agreement, no Management Member may Transfer any of its
Class B Units, directly or indirectly, unless such Transfer is permitted under the terms of the Management Incentive Plan. 
 (e) Each
Member agrees not to Transfer any Units unless: 
 (i) there is in effect a registration statement under the 1933 Act covering such
proposed Transfer and such Transfer is made in accordance with such registration statement; or 
 (ii) such Transfer shall not require
registration of such Units under the 1933 Act and, upon request by the Company, such Member shall have furnished the Company with a reasonable description of the circumstances surrounding the proposed Transfer and an opinion of counsel, in form and
substance reasonably satisfactory to the Company, that such Transfer shall not require registration of such Units under the 1933 Act. 

(f) No Member shall have the right or power to effect a Transfer of its Units or a Transfer of any of the rights of such Member set forth in
this Agreement, in each case, except in strict compliance with the procedures set forth in this Agreement. Any attempt to Transfer any Units or Transfer any such rights not in accordance with this Agreement shall be null and void and no right, title
or interest in or to such Units or rights, as applicable, shall be Transferred to the purported transferee, buyer, donee, assignee or encumbrance holder. Without limiting the generality of the foregoing, no Member shall have the right or power to
assign to any third party any of such Member’s rights to appoint, remove or replace Managers pursuant to Article III unless all applicable terms in this Agreement have been satisfied. The Company shall not give, and shall not permit the
Company’s transfer agent to give, any effect to such attempted Transfer. Each Member hereto acknowledges and agrees that any breach of this Agreement would result in substantial harm to the Members for which monetary damages alone would not
adequately compensate. Therefore, each Member unconditionally and irrevocably agrees that any non-breaching Member shall be entitled to seek protective orders, injunctive relief and other remedies available at law or in equity (including, without
limitation, seeking specific performance or the rescission of purchases, sales and other Transfers not made in strict compliance with this Agreement). 

(g) No Member shall have a right to withdraw as a Member (except pursuant to a Transfer by a Member of all of its Units effected in
accordance with this Agreement) or withdraw such Member’s capital from the Company. 
  

	 	Section 5.2	Tag-Along Rights 

 (a) If the Cerberus Funds, the Keane Parties and/or an assignee
thereof (a “Tag-Along Selling Member”) proposes to Sell (a “Tag-Along Sale”), in one transaction or a series of transactions, more than 25% (in the case of the Cerberus Funds taken as a whole) or 50% (in the case of
the Keane Parties taken as a whole), of the Units it Holds as of the date hereof to any Person (other than (A) one or more of its Affiliates or (B) a Sale by any of the Keane Parties and/or their Affiliates, on the one hand, to the
Cerberus Funds and/or their Affiliates, on the other hand), and Trican does not elect to exercise its rights under the Existing 

  
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Holder ROFO, the Tag-Along Selling Member shall give written notice (a “Tag-Along Notice”) of such proposed Tag-Along Sale to the other Members Holding Class A Units, vested
Class B Units (including unvested Class B Units that will become vested as a result of the Sale) and Class C Units at such time (the “Tag-Along Members”) and the Company at least 20 days prior to the consummation of such proposed
Tag-Along Sale setting forth: 
 (i) the total number and classification of Units proposed to be Sold or previously sold in the Tag-Along
Sale (the “Tag-Along Offered Units”); 
 (ii) the purchase consideration per Tag-Along Offered Unit; 

(iii) the identity of the purchaser; 

(iv) any other material terms and conditions of the proposed Tag-Along Sale; 

(v) the expected date of the proposed Tag-Along Sale; and 

(vi) an undertaking that each Tag-Along Member shall have the right (the “Tag-Along Right”) to elect to sell Units in an
amount equal to its Pro Rata Portion of such Tag-Along Offered Units in accordance with the procedures set forth in this Section 5.2. 

(b) Upon delivery of a Tag-Along Notice, each Tag-Along Member shall have the right, but not the obligation, to sell an amount equal to all
but not part of its Pro Rata Portion of the aggregate Tag-Along Offered Units (i) in the case of a Sale of Class A Units, at the same price as a Class A Unit; provided, that if the proceeds from such Tag-Along Sale together
with the proceeds of all previous Tag-Along Sales are sufficient to cause distributions under Section 7.1 to Holders of Class B Units or Class C Units, the Holders of such Units shall be entitled to participate in the Tag-Along Sale or
(ii) in the case of a Sale of Class B Units or Class C Units, as if a distribution was being made to each of the Members under Section 7.1 in an amount equal to the implied equity value of the Tag-Along Sale, as such value is reasonably
determined in good faith by the Management Board, and, in each case, for the same form of consideration and pursuant to the same terms and conditions as set forth in the Tag-Along Notice. If a Tag-Along Member wishes to participate in the Tag-Along
Sale, it shall provide written notice to the Tag-Along Selling Member and the Company no later than ten days after the date of the Tag-Along Notice, indicating its election to sell an amount equal to its Pro Rata Portion of such Tag-Along Offered
Units. Such notice shall set forth the number of Units that such Tag-Along Member elects to include in the Tag-Along Sale (and with respect to any Class B Units or Class C Units, shall include a reasonably detailed calculation of the number of Class
B Units or Class C Units, as applicable, that are proposed to be sold in connection with the Tag-Along Sale), which number in each case shall be equal to its Pro Rata Portion of the Tag-Along Offered Units. The election of each Tag-Along Member
contained in such holder’s written notice shall be irrevocable, and such Tag-Along Member shall be bound and obligated to sell in the Tag-Along Sale on the same terms and conditions as the Tag-Along Selling Member; provided,
however, that, except as otherwise provided in this Section 5.2(b), the Tag-Along Selling Member shall not consummate the Tag-Along Sale unless all of the Units requested to be included in the Tag-Along Sale by the Tag-Along Members will
be purchased on the same terms 

  
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and conditions as for the Tag-Along Selling Member; provided, further, that in the event that the number of Units which the Tag-Along Selling Member and the Tag-Along Members elect
to sell in the Tag-Along Sale is more than the Tag-Along Offered Units, to the extent that the purchaser in the Tag-Along Sale does not elect to purchase such excess Units, the number of Units to be Sold by the Tag-Along Selling Member and each
Tag-Along Member shall be reduced pro rata based on the proportion which the number of Units which each such Person elects to have included in the Tag-Along Sale bears to the total number of Units elected by all such Persons to have included
in the Tag-Along Sale. 
 (c) No Tag-Along Member shall be required to make any covenants, representations or warranties in connection with
a Tag-Along Sale which (i) are not being made by the Tag-Along Selling Member and the other Tag-Along Members, (ii) relate to the Tag-Along Selling Member or any other Tag-Along Member or (iii) are not consistent with the Tag-Along
Notice. No Tag-Along Member shall be liable in respect of any indemnification provided in connection with a Tag-Along Sale (x) for the breach of any covenants, representations or warranties made by the Tag-Along Selling Member or any other
Tag-Along Member, (y) other than on a several (and not a joint and several) basis with the Tag-Along Selling Member and the other Tag-Along Members and (z) to the extent not consistent with the Tag-Along Notice. If a Tag-Along Sale is
consummated, each Tag-Along Member agrees to pay its pro rata share of the reasonable costs incurred by the Tag-Along Selling Member relating to the Tag-Along Sale (including, without limitation, reasonable legal fees and expenses), based on
such Tag-Along Member’s pro rata share in the net proceeds from such Tag-Along Sale, to the extent not paid or reimbursed by the Company or the purchaser. The closings of the Sales by the Tag-Along Selling Member and any Tag-Along
Members shall occur simultaneously and be conditioned upon each other. 
 (d) The Tag-Along Selling Member shall have the right for a
period of 180 days after the expiration of the ten day period referred to in Section 5.2(b) to consummate the Tag-Along Sale at a price not greater than the price contained in, and otherwise on terms and conditions not materially more favorable
to the Tag-Along Selling Member, taken as a whole, than those set forth in, the Tag-Along Notice. After the end of the 180 day period referred to in this Section 5.2(d), any proposed Sale of Units by a Tag-Along Selling Member shall be subject
to the provisions of this Section 5.2, which shall apply de novo. 
 (e) Notwithstanding anything to the contrary in this
Agreement, no Management Member will have a Tag-Along Right, unless approved by the Management Board, with respect to any Tag-Along Sale unless the Cerberus Funds are Selling Units in connection with such Tag-Along Sale. 

(f) The Tag-Along Rights provided in this Section 5.2 shall expire upon the consummation of an Initial Public Offering of the Company.

  

	 	Section 5.3	Drag-Along Rights 

 (a) From time to time and at any time, if the Cerberus Funds
(together, the “Dragging Member”) propose to Sell all of their Units then Held, which Units represent more than 50% of the Units they Hold as of the Effective Date, to an unaffiliated third party for

  
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consideration in the form of cash or securities that are of a class listed or quoted for trading on one or more U.S. national securities exchanges on such date (a “Drag-Along
Sale”) and Trican does not elect to exercise its rights under the Existing Holder ROFO, the Dragging Member shall have the right, but not the obligation, to require the other Members (including the Management Members) (each, a
“Dragged Member”, and collectively, the “Dragged Members”) to: 
 (i) sell all of their Units (including
the Class C Units), with the proceeds of that sale by the Cerberus Funds and the other holders allocated among the parties as if they were distributed in accordance with Section 7.1; 

(ii) vote or cause their respective Manager(s) to vote all of their Units that are entitled to vote in favor of the transactions necessary or
appropriate to consummate the Drag-Along Sale; and 
 (iii) take such other actions as may be reasonably requested by the Dragging Member
or the Company to give effect to the Drag-Along Sale (collectively, the “Drag-Along Rights”). 
 (b) Each Member affirms
and agrees that it will (i) refrain from exercising any dissenters’ rights, rights of appraisal or any similar rights under applicable Law at any time with respect to a Drag-Along Sale and (ii) vote or cause its Manager(s) to vote for
the approval of the transactions constituting the Drag-Along Sale under this Section 5.3, in each case as a condition of this Agreement and as such is coupled with an interest and is irrevocable. This voting agreement shall remain in full force
and effect throughout the time that this Section 5.3 is in effect. 
 (c) The Dragging Member shall, promptly upon determining the
terms of the Drag-Along Sale, deliver to the Dragged Members written notice specifying the material terms of the Drag-Along Sale (including, without limitation, the identity of the purchaser to which the Drag-Along Sale is proposed to be made, the
nature of the purchase consideration, estimated net proceeds from the Drag-Along Sale and the expected closing date of the proposed Drag-Along Sale). 

(d) In connection with the Drag-Along Sale, each Member shall (i) make or agree to representations and warranties relating to itself and
its Units in respect of clear title, due authority, required approvals and absence of conflicts, (ii) if the Drag-Along Sale is consummated, pay its pro rata share of the reasonable costs incurred by the Dragging Member relating to the
Drag-Along Sale (including, without limitation, reasonable legal fees and expenses), based on such Member’s pro rata share in the net proceeds from such Drag-Along Sale, to the extent not paid or reimbursed by the Company or the
purchaser and (iii) participate on a pro rata basis, based on such Member’s pro rata share in the net proceeds from such Drag-Along Sale, in any hold-back, escrow, contingent consideration or other similar items relating to
the Drag-Along Sale. 
 (e) Each of the Members agrees that it shall execute such other documents as the Dragging Member may reasonably
request in order to consummate the Drag-Along Sale at the time specified by the Dragging Member. 

  
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 (f) Except as expressly provided in this Section 5.3, the Dragging Member shall have no
obligation to any Member with respect to the sale of any Units owned by such Member in connection with the Drag-Along Sale. Notwithstanding anything herein to the contrary, the Dragging Member shall have no obligation to any other Member as a result
of any decision by the Dragging Member to accept or consummate, or not to accept or consummate, any Drag-Along Sale (it being understood that any and all such decisions shall be made by the Dragging Member in their sole discretion). 

(g) If a Dragged Member is required to sell all of its Class A Units pursuant to a Drag-Along Sale, any unvested Class B Units that will
not become vested Class B Units as a result of the Drag-Along Sale in accordance with the Management Incentive Plan, any Management Member’s MIP Agreement or any applicable award agreements will be forfeited, any rights thereunder shall
automatically terminate and any Retained Distribution shall be distributed to the Members as though such Retained Distribution were distributed pursuant to Section 7.1 immediately upon such Member’s forfeiture of its Class B Units. 

(h) The Drag-Along Rights provided in this Section 5.3 shall expire upon the consummation of an Initial Public Offering of the Company.

  

	 	Section 5.4	Rights of First Refusal on New Issue Securities 

 (a) Subject to the exceptions set
forth in Section 5.4(d), from and after the Effective Date and until consummation of an Initial Public Offering, the Company shall not issue, sell or exchange, agree or obligate itself to issue, sell or exchange, or reserve or set aside for
issuance, sale or exchange: (i) Units or any other Equity Securities or (ii) any option, warrant or other right to subscribe for, purchase or otherwise acquire Units or any other equity securities or (iii) any securities convertible,
exchangeable or exercisable for or into Units or any other Equity Securities (collectively, “New Issue Securities”), unless in each case the Company shall offer to sell each of the Members then Holding Class A Units
(“Eligible Stockholder”) its Proportionate Class A Unit Percentage of any proposed issuance of New Issue Securities at the same price and on the same terms at which the Company proposes to sell such New Issue Securities,
pursuant to the Management Board’s reasonable good faith determination of Fair Market Value for such New Issue Securities, which shall have been specified by the Company in a written offer delivered to each Eligible Stockholder (the
“Preemptive Right Notice”), which offer by its terms shall remain open and irrevocable for a period of 15 days from receipt of the Preemptive Right Notice. The offer of the Company to sell the New Issue Securities shall expire after
such 15 day period (“Exercise Period”). 
 (b) Within 15 days after receipt of the Preemptive Right Notice, each of the
Eligible Stockholders shall give notice to the Company of its intent to accept (a “Notice of Acceptance”) the Company’s offer to purchase its Proportionate Class A Unit Percentage of New Issue Securities, which
communication shall be delivered to the Company in accordance with Section 12.10. No later than five Business Days following the expiration of the Exercise Period, the Company shall notify each Eligible Stockholder in writing of the number of
New Issue Securities that each Eligible Stockholder has agreed to purchase (including, for the avoidance of doubt, where such number is zero) (the “Over-allotment Notice”). Each Eligible Stockholder exercising its right in full to
purchase its Proportionate Class A Unit Percentage of New Issue 

  
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Securities in full (an “Exercising Member”) shall have a right of over-allotment such that if any other Eligible Stockholder fails to exercise its right under this
Section 5.4 to purchase in full its Proportionate Class A Unit Percentage of New Issue Securities (each, a “Non-Exercising Member”), such Exercising Member may purchase its Proportionate Class A Unit Percentage of the
New Issue Securities that such Non-Exercising Member has failed to purchase by giving written notice to the Company within five Business Days of receipt of the Over-allotment Notice. If, after giving effect to the prior sentence, any New Issue
Securities remain unsubscribed, the Company shall be free to issue and sell such New Issue Securities to any Person on the terms and conditions set forth in the Preemptive Right Notice, at any time within 180 days after the expiration of such 15 day
period. Any New Issue Securities not sold within 180 days after the expiration of such 15 day period shall continue to be subject to the requirements of this Section 5.4. 

(c) Upon the closing of any such purchase of New Issue Securities, which shall include full payment to the Company of the purchase price
therefor, the exercising Eligible Stockholders (if any) shall purchase from the Company, and the Company shall sell to such exercising Eligible Stockholder, the number of New Issue Securities specified in the respective holder’s Notice of
Acceptance, upon the terms and conditions specified in the relevant Preemptive Right Notice. 
 (d) The rights of the Eligible Stockholders
under this Section 5.4 shall not apply to any New Issue Securities issued in connection with any grant, exchange or Sale of Units as consideration in any merger, consolidation or other acquisition of any Person, business, division, or assets
approved by the Management Board. 
  

	 	Section 5.5	Trican Right of First Offer; Call Option on Trican Units 

 (a) Following the expiration
of the Restricted Period, if at any time Trican proposes to Transfer any Units Held by it other than in connection with a Drag-Along Sale or Tag-Along Sale (the “Trican ROFO Units”), each of the Cerberus Funds and the Keane Parties
(together, the “Existing Holders”) shall have the right, but not the obligation, to purchase its Proportionate Class A Unit Percentage of such Units on the terms and subject to the conditions set forth in this Section 5.5
(the “Trican ROFO”); provided, that the Existing Holders’ rights pursuant to this Section 5.5 shall apply only to the collective purchase of all and not less than all of such Trican ROFO Units. 

(b) Trican shall deliver a written offer to the Existing Holders of its intention to Transfer the Trican ROFO Units (the “Trican ROFO
Notice”), describing (i) the total number and classification of Units intending to be Transferred, (ii) the price per Unit intended to be Transferred, (iii) the identity of the purchaser and (iv) any other material terms
and conditions of the intended Transfer, which offer by its terms shall remain open and irrevocable during the Exercise Period. 
 (c)
Within 15 days after receipt of the Trican ROFO Notice, each of the Existing Holders shall give notice to Trican of its intent to accept (a “Trican ROFO Acceptance”) Trican’s offer to purchase its Proportionate Class A
Unit Percentage of the Trican ROFO Units, which communication shall be delivered to Trican in accordance with Section 12.10. 

  
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No later than five Business Days following the expiration of the Exercise Period, Trican shall notify each of the Existing Holders in writing of the number of Trican ROFO Units that each of the
Existing Holders has agreed to purchase (including, for the avoidance of doubt, where such number is zero) (the “Trican ROFO Over-allotment Notice”). Each of the Existing Holders exercising its right in full to purchase its
Proportionate Class A Unit Percentage of Trican ROFO Units (a “Trican ROFO Exercising Member”) shall have a right of over-allotment such that if any of the Existing Holders fails to exercise its right under this
Section 5.5 to purchase in full its Proportionate Class A Unit Percentage of Trican ROFO Units (each, a “Trican ROFO Non-Exercising Member”), such Trican ROFO Exercising Member may purchase its Proportionate Class A
Unit Percentage of the Trican ROFO Units that such Trican ROFO Non-Exercising Member has failed to purchase by giving written notice to Trican within five Business Days of receipt of the Trican ROFO Over-allotment Notice. If, after giving effect to
the prior sentence, all of the Trican ROFO Units have not been agreed to be purchased by the Trican ROFO Exercising Members, Trican shall be free to issue and sell all such Trican ROFO Units to any Person on the terms and conditions and at the price
no more favorable than those set forth in the Trican ROFO Notice, at any time within 180 days after the expiration of such 15 day period and the Trican ROFO Exercising Members shall not be entitled to purchase any of the Trican ROFO Units. Any
Trican ROFO Units not sold within 180 days after the expiration of such 15 day period shall continue to be subject to the requirements of this Section 5.5. 

(d) Upon the closing of any such purchase of Trican ROFO Units, which shall include full payment to Trican of the purchase price therefor,
the Trican ROFO Exercising Members (if any) shall purchase from Trican, and Trican shall sell to such Trican ROFO Exercising Members, the number of Trican ROFO Units specified in the respective holder’s Trican ROFO Acceptance, upon the terms
and conditions specified in the relevant Trican ROFO Notice. 
 (e) Call Option. 

(i) Notwithstanding anything to the contrary in this Section 5.5, (i) the Trican ROFO shall not apply to (A) a Sale or
Transfer of all or substantially all of the assets of Trican in one or a series of related transactions that do not involve the Sale or Transfer of Trican’s Units separately from the Sale or Transfer of all or substantially all of the assets of
Trican or (B) any transfer or sale of any equity interests of Trican Parent (including any indirect or direct sale or transfer, whether by merger, amalgamation or reorganization) so long as such sale or transfer does not involve the Sale or
Transfer of Trican’s Units separately from the direct or indirect sale or transfer of the equity interests of Trican Parent and (ii) the Trican ROFO shall not in and of itself prevent Trican from pledging or otherwise encumbering any Units
(the “Pledged Units”) Held by it to any lenders or financing sources (collectively, the “Financing Sources”) in order to obtain or retain financing; provided, that each of the Existing Holders shall have the
option, but not the obligation, to purchase any such Pledged Units for Fair Market Value (and in the case of any Pledged Units that are Class C Units, such Fair Market Value shall be calculated as if such Class C Units were converted to Class A
Units on a fully diluted basis based on the Fair Market Value for such Units immediately prior to exercise of the Call Option) (as determined by an independent valuation firm selected by the Management Board (unless a prior valuation has been
undertaken in the 90 day period prior to such calculation of Fair Market Value, in which case Fair Market Value shall be based on such prior valuation)) in connection with any foreclosure or other security enforcement action with respect to such
Pledged Units (the “Call Option”) on the terms set forth in this Section 5.5(e). 

  
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 (ii) Trican shall require its Financing Sources to notify the Existing Holders (a
“Foreclosure Notice”) of the bona fide intention by the Financing Sources to foreclose on or take any other security enforcement action with respect to any Pledged Units at the same time as Trican or its Affiliates are so notified.
Within ten days of receipt of any Foreclosure Notice, each of the Existing Holders must notify the other Existing Holders of its intention, if any, to exercise the Call Option for some or all of the Pledged Units; provided, that if more than
one Existing Holder has provided notice of an intent to exercise the Call Option for a proportion of the Pledged Units in excess of their respective Proportionate Class A Unit Percentages, then such Existing Holders shall exercise such Call
Option for up to their relative Proportionate Class A Unit Percentage as between such Existing Holders. 
 (iii) Subject to
Section 5.5(e)(ii), each of the Existing Holders shall notify Trican, the other Existing Holders and the applicable Financing Sources in writing (the “Call Option Exercise Notice”) of their intention to exercise the Call Option
within 60 days from the date on which the Existing Holders receive the Foreclosure Notice and the purchase of such Pledged Units pursuant to such Call Option shall be consummated within 30 days from delivery of the Call Option Exercise Notice. 

(iv) Notwithstanding anything to the contrary, Trican shall cause such Financing Sources to (A) take such pledge or encumbrance on the
Pledged Units from Trican subject to the Existing Holder’s right to the Call Option hereunder and (B) not take any foreclosure or other security enforcement action with respect to the Pledged Units until at least 61 days after receipt by
the Existing Holders of the Foreclosure Notice unless the Existing Holders have provided notice to Trican and such Financing Sources of their intention not to exercise their rights to the Call Option during such time. 

 

	 	Section 5.6	Existing Holder ROFO 

 (a) Subject to Section 5.1 and the other provisions of this
Section 5.6, (i) if at any time the Cerberus Funds or (ii) following the expiration of the Restricted Period, any of the Keane Parties, or any assignee thereof (as applicable, a “Selling Holder”) proposes to Transfer
any Units Held by it (the “Existing Holder ROFO Units”), other than in connection with a Transfer among the Keane Parties or between a Keane Party and such Keane Party’s Family Member, the Cerberus Funds (to the extent Cerberus
Funds are not a Selling Holder) and Trican shall have the right, but not the obligation, to purchase such Units on the terms and subject to the conditions set forth in this Section 5.6 (the “Existing Holder ROFO”);
provided, that the Cerberus Funds’ and Trican’s right pursuant to this Section 5.6 shall apply only to the collective purchase of all and not less than all of such Existing Holder ROFO Units. 

(b) The Selling Holder shall deliver a written offer to the Cerberus Representative and Trican of its intention to Transfer the Existing
Holder ROFO Units (the “Existing Holder ROFO Notice”), describing (i) the total number and classification of Units intending to be Transferred, (ii) the price per Unit intended to be Transferred and (iii) any other
material terms and conditions of the intended Transfer, which offer by its terms shall remain open and irrevocable during the Exercise Period. 

  
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 (c) Within 15 days after receipt of the Existing Holder ROFO Notice, each of the Cerberus
Representative and Trican shall give notice to the other party and the Selling Holder (unless the Selling Holder is a Cerberus Fund) of its intent to accept (an “Existing Holder ROFO Acceptance”) the Selling Holder’s offer to
purchase the Existing Holder ROFO Units, which communication shall be delivered in accordance with Section 12.10; provided, that in the event that the Cerberus Representative has delivered an Existing Holder ROFO Acceptance, such
Existing Holder ROFO Acceptance shall take priority over that (if any) delivered by Trican, and the Cerberus Representative may, at its discretion, by providing notice to Trican and the Selling Holder within three Business Days of receipt of the
Existing Holder ROFO Acceptance, elect to purchase, on behalf of the Cerberus Funds, up to all of the Existing Holder ROFO Units and any Existing Holder ROFO Units that Trican has elected to purchase shall be reduced accordingly. In the event that
Trican submits an Existing Holder ROFO Acceptance, Trican shall contemporaneously with such Existing Holder ROFO Acceptance provide to the Selling Holder evidence demonstrating to the reasonable satisfaction of the Selling Holder that Trican has at
such time and will have, at the time of the closing of the purchase of the Existing Holder ROFO Units, sufficient cash on hand to make such purchase. No later than five Business Days following the expiration of the Exercise Period (such Exercise
Period to be extended by the additional time period referenced in the previous proviso to the extent the previous proviso is applicable), the Selling Holder shall notify each of the Cerberus Representative and Trican in writing of the number of
Existing Holder ROFO Units that the Cerberus Funds and Trican, respectively, may purchase (including, for the avoidance of doubt, where such number is zero and taking into account the foregoing proviso). If, after the termination of the Exercise
Period, all of the Existing Holder ROFO Units have not been agreed to be purchased by the Cerberus Funds or Trican, the Selling Holder shall be free to issue and sell all Existing Holder ROFO Units to any Person on the terms and conditions and at
the price no more favorable than those set forth in the Existing Holder ROFO Notice, at any time within 180 days after the expiration of such 15 day period and each of the Cerberus Funds and Trican shall not be entitled to purchase any of the
Existing Holder ROFO Units. Any Existing Holder ROFO Units not sold within 180 days after the expiration of such 15 day period shall continue to be subject to the requirements of this Section 5.6. 

(d) Upon the closing of any such purchase of Existing Holder ROFO Units, which shall include full payment to the Selling Holder of the
purchase price therefor, the Existing Holder ROFO Exercising Members (if any) shall purchase from the Selling Holder, and the Selling Holder shall sell to such Existing Holder ROFO Exercising Members, the number of Existing Holder ROFO Units
specified in the respective holder’s Existing Holder ROFO Acceptance, upon the terms and conditions specified in the relevant Existing Holder ROFO Notice. 

  
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 ARTICLE VI. 

ALLOCATIONS 
  

	 	Section 6.1	General Rules; Allocation of Profits and Losses 

 Except as otherwise provided in this
Article VI, Profits and Losses for any taxable period shall be allocated among the Members in such manner that, as of the end of such taxable period, the respective Capital Accounts of the Members shall be equal to the respective amounts that would
be distributed to them, determined as if the Company were to (i) liquidate the assets of the Company for an amount equal to their Gross Asset Value and (ii) distribute the proceeds of liquidation pursuant to Section 10.3. 

 

	 	Section 6.2	Other Allocation Rules 

 (a) For purposes of determining the Profits, Losses or other
items allocable to any taxable period, Profits, Losses and such other items shall be determined on a daily, monthly or other basis as determined by the Management Board in its reasonable discretion using any permissible method under Code
Section 706 and the Regulations thereunder. 
 (b) The Members are aware of the United States federal income tax consequences of the
allocations made by this Article VI and hereby agree to be bound by the provisions of this Article VI in reporting their shares of Company income and loss for income tax purposes. 

(c) All items of income, gain, loss, deduction, or credit and any other allocations not otherwise provided for shall be allocated among the
Members as determined by the Management Board in its reasonable discretion. 
 (d) If a Member transfers all or a portion of its Units
during any taxable period, then Profits, Losses, each item thereof and all other items attributable to the transferred interest for such taxable period shall be divided and allocated between the transferor and the transferee by taking into account
their varying interests in the Company during the taxable period in accordance with Section 706(d) of the Code, using any conventions permitted by Law and selected by the Management Board. 

(e) Tax returns shall be provided to the Management Board for review before submission, and any reasonable requests by the Management Board
for changes in order to ensure compliance with such requirements shall be made, provided that such changes shall not result in the amount of cash or other distributions to any Member being affected or cause a material adverse tax or other
effect for any Member. 
  

	 	Section 6.3	Tax Allocations: Code Section 704(c) 

 (a) Subject to Section 6.3(f), for each
taxable year, items of income, deduction, gain, loss and credit shall be allocated for tax purposes among the Members to reflect equitably the amounts which have been credited or debited to the Capital Account of each such Member for such taxable
year and prior taxable years. 
 (b) In accordance with Code Section 704(c) and the Regulations thereunder, items of income, gain,
loss, deduction and credit with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted tax basis of such property

  
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at the time of contribution to the Company for federal income tax purposes and its initial Gross Asset Value at the time of contribution using a method permitted by applicable Regulations under
Code Section 704(c), as determined by the Management Board in its reasonable discretion. 
 (c) In the event the Gross Asset Value of
any Asset is adjusted in accordance with paragraph (b) of the definition of Gross Asset Value hereof, subsequent allocations of items of income, gain, loss, deductions or credit with respect to such asset shall take into account any variation
between the adjusted tax basis of such asset for federal income tax purposes and its Gross Asset Value in the same manner as under Code Section 704(c) and the Regulations thereunder. 

(d) The Company shall use its reasonable best efforts to specifically identify individual shares of Keane Group Stock that correspond to any
property contributed by a Member for purposes of Code Section 704(c), and in the case of a distribution of shares of Keane Group Stock to one or more Members or a sale of shares of Keane Group Stock relating to a Member in connection with a
Sell-Down, the Company shall use its reasonable best efforts to distribute to each such Member, or sell, as applicable, the shares of Keane Group Stock identified with such Member. 

(e) Subject to Section 6.3(d), if the Company distributes Keane Group Stock to one or more Members in connection with a Sell-Down
pursuant to Section 3.7(c), then for U.S. federal income tax purposes, the taxable gain and taxable loss on the Keane Group Stock sold in connection with such Sell-Down shall be specially allocated, to the maximum extent permitted, among the
Members who receive cash from such Sell-Down proportionately and in a reasonable manner that reflects the receipt of such cash. 
 (f) Any
elections or other decisions relating to allocations for tax purposes, basis adjustments or other tax matters shall be made by the Management Board in its reasonable discretion. Allocations pursuant to this Section 6.3 are solely for purposes
of federal, state and local taxes and shall not affect, or in any way be taken into account in computing, any Member’s Capital Account, share of Profits or Losses, or other items or distributions pursuant to any provision of this Agreement.

 ARTICLE VII. 
 DISTRIBUTIONS
AND EXPENSES 
  

	 	Section 7.1	Distributions 

 Except for distributions made in accordance with Section 3.7, the
Company shall distribute (i) Cash Available for Distribution on a quarterly basis (or more frequently when, as and if declared by the Management Board), (ii) other property of the Company when, as and if declared by the Management Board
and (iii) any distributions in liquidation in accordance with Section 10.3, in each case as follows: 
 (a) First, until
the aggregate amount distributed under this Section 7.1(a) equals $468,000,000, to the Class A Members pro rata in accordance with the number of Class A Units held by such Class A Members at the time of such distribution;

  
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 (b) Second, until the aggregate amount distributed under Section 7.1(a) and this
Section 7.1(b) equals the First Class C Threshold, to the Class A Members and to the Class B Members that are entitled to distributions in accordance with the Management Incentive Plan, the applicable MIP Award Agreement or resolution of
the Management Board (or, if applicable, the board of managers of Keane Group Holdings, LLC prior to the Effective Date), pro rata in accordance with the aggregate number of Class A Units and such Class B Units held by such Class A
Members and Class B Members, respectively, at the time of such distribution; 
 (c) Third, until the aggregate amount distributed
under Section 7.1(a), Section 7.1(b) and this Section 7.1(c) equals the Second Class C Threshold, 90% to the Class A Members and to the Class B Members that are entitled to distributions in accordance with the Management
Incentive Plan, the applicable MIP Award Agreement or resolution of the Management Board (or, if applicable, the board of managers of Keane Group Holdings, LLC prior to the Effective Date), pro rata in accordance with the aggregate number of
Class A Units and such Class B Units held by such Class A Members and Class B Members, respectively, at the time of such distribution and 10% to the Class C Members pro rata in accordance with the number of Class C Units held by
such Class C Members at the time of such distribution; and 
 (d) Thereafter, 80% to the Class A Members and to the Class B
Members that are entitled to distributions in accordance with the Management Incentive Plan, the applicable MIP Award Agreement or resolution of the Management Board (or, if applicable, the board of managers of Keane Group Holdings, LLC prior to the
Effective Date), pro rata in accordance with the aggregate number of Class A Units and such Class B Units held by such Class A Members and Class B Members, respectively, at the time of such distribution and 20% to the Class C
Members pro rata in accordance with the number of Class C Units held by such Class C Members at the time of such distribution. 
 No
Management Member shall be entitled to any such distribution with respect to Class B Units to the extent that such Class B Units have not yet vested by the terms pursuant to which such Class B Units were granted, but such distribution shall be
retained by the Company (the “Retained Distribution”) and paid to such Management Member if and when such unvested Class B Units become vested Class B Units; provided that: (i) if a Management Member forfeits his or her
Class B Units before such Class B Units vest, then any such Retained Distribution shall be distributed to the Members in accordance with clause (a), clause (b) and clause (c) of this Section (but subject to this paragraph) immediately upon
such Management Member’s forfeiture of its Class B Units; and (ii) upon the vesting of any Class B Units in respect of which the Company holds any Retained Distribution, the portion of the Retained Distribution which is attributable to
such newly vested Class B Units shall be distributed to the Management Member holding such Class B Units. 
  

	 	Section 7.2	Amounts Withheld 

 All amounts withheld or paid pursuant to the Code or any provisions of
state, local or foreign tax Law with respect to any payment, distribution, allocation or other consideration paid to the Members, including in connection with a contribution of assets to the Company by a Member, shall be treated as amounts paid or
distributed, as the case may be, to the Members with respect to which such amount was withheld or paid pursuant to this Section 7.2 

  
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for all purposes under this Agreement. The Company is authorized to withhold or pay, when required under applicable Law, from payments, distributions, or other consideration paid to Members, and
with respect to allocations to the Members, and to pay over to any federal, state, local or foreign government any amounts required to be so withheld or paid pursuant to the Code or any provisions of any federal, state, local or foreign Law, and
shall allocate any such amounts to the Members with respect to which such amounts were withheld or paid. 
  

	 	Section 7.3	Expenses 

 Except as otherwise provided in this Agreement, the Company shall pay or cause
to be paid all costs and expenses arising from the organization and operations of the Company. The Company shall reimburse the Managers, officers, employees, “authorized persons” and other agents of the Company for reasonable out-of-pocket
expenses incurred by them on behalf of the Company. Subject to Section 3.6, each Member shall otherwise be responsible for all costs and expenses incurred by such Member in the performance of its obligations under this Agreement. 

 

	 	Section 7.4	Tax Distributions 

 The Management Board may, in its reasonable discretion, cause the
Company to make distributions to each Member (to the extent that cash is available for such distributions, after necessary expenses and reserves in accordance with this Agreement and as otherwise determined by the Management Board or as may be
required by such Member’s employment agreement or any Side Letter) so that each such Member may pay its taxes with respect to its share of the taxable income of the Company for a taxable year or other taxable period. If the Management Board
determines that enough cash is available for such distributions, then the Management Board shall calculate the amount of any such distributions by applying the highest marginal effective tax rate applicable to a corporation doing business in New
York, New York to each Member and may make such distributions to the extent that cash is available. Any distribution made to a Member pursuant to this Section 7.4 shall be made as soon as practicable after the end of the taxable year or other
taxable period for which such distribution is being made. Any distribution made to a Member shall reduce the amount distributable to such Member from the Company under Section 7.1. 

 

	 	Section 7.5	Trican Repayment 

 Notwithstanding anything to the contrary in this Agreement, in the
event that any amounts are distributable to Trican under this Agreement prior to the full Trican Repayment (including accrued interest thereon), or satisfaction thereof in accordance with Section 2.2(b), then any such amounts that would
otherwise be distributable to Trican shall be distributed to the applicable Cerberus Funds, as designated by the Cerberus Representative, until the full amount of the Cerberus Contribution Loan (including accrued interest thereon) has been repaid.

  
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 ARTICLE VIII. 

OTHER TAX MATTERS 
  

	 	Section 8.1	Tax Matters Member 

 The Company and each Member hereby designate (a) Cerberus
Institutional Partners V, L.P. as the “tax matters partner” of the Company for purposes of Code Section 6231(a)(7) and (b) Cerberus Institutional Partners V, L.P. as a “partnership representative” of the Company under
Section 6223 of the Code (as amended by the Budget Act), and the Management Board is hereby authorized to take any actions necessary or appropriate for Cerberus Institutional Partners V, L.P. to be designated as a “partnership
representative under such Section (the person designated in the preceding clauses (a) or (b), the “Tax Matters Member”).The Management Board (after consultation with the Tax Matters Member) shall: (a) cause to be prepared
and timely filed by the Company all United States federal, state and local income tax returns of the Company for each year for which such returns are required to be filed; and (b) determine the appropriate treatment of each item of income,
gain, loss, deduction and credit of the Company and the accounting methods and conventions under the tax Laws of the United States, the several states and other relevant jurisdictions as to the treatment of any such item or any other method or
procedure related to the preparation of such tax returns. Subject to the express provisions of this Agreement, the Management Board may in its reasonable discretion cause the Company to make or refrain from making any and all elections permitted by
such tax Laws. 
  

	 	Section 8.2	Furnishing Information to Tax Matters Member 

 Each Member shall furnish to the Tax
Matters Member such information (including information specified in Code Section 6230(e)) as such Tax Matters Member may, at its reasonable discretion, request to permit it to provide the Internal Revenue Service with sufficient information to
allow proper notice to the Members in accordance with Code Section 6223 or any other provisions of the Code or the published regulations thereunder which require the Tax Matters Member to obtain information from the Members. 

 

	 	Section 8.3	Tax Claims and Proceedings 

 In respect of any income tax audit of any tax return of the
Company, the filing of any amended return or claim for refund in connection with any item of income, gain, loss, deduction or credit reflected on any income tax return of the Company, or any administrative or judicial proceedings arising out of or
in connection with any such audit, amended return, claim for refund or denial of such claim, (a) all expenses reasonably incurred by the Tax Matters Member in connection therewith shall be expenses of the Company, (b) in any material
proceeding the Tax Matters Member shall promptly take such action as may be necessary to cause each of the other Members to become a “notice partner” within the meaning of Code Section 6231(a)(8), in respect of any taxable year
governed by such Section, (c) in any material proceeding the Tax Matters Member shall furnish to the other Members a copy of all material notices or other written communications received by the Tax Matters Member from the Internal Revenue
Service (except such notices or communications as are sent directly to the Members), and (d) in any material proceeding the Tax Matters Member shall notify the other Members of all material conversations it has with the relevant taxing
authority and shall keep the other Members reasonably informed of all material matters which may come to its attention in its capacity as Tax Matters Member. The Tax Matters Member is hereby authorized to take any action required to cause the
financial burden of any “imputed underpayment” (as determined under Section 6225 of the Code, as amended by the Budget Act) (an “Imputed Underpayment”) and associated interest, adjustments to tax and penalties arising
from a partnership-level adjustment that are 

  
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imposed on the Company to be borne by the Members and former Members to which such Imputed Underpayment relates as determined by the Tax Matters Member after consulting with the Company’s
accountants or other tax advisors. By executing this Agreement each Member (i) expressly authorizes the Tax Matters Member and the Company to take all actions that are reasonably necessary to cause the Company to make the election set forth in
Section 6226 of the Code (as amended by the Budget Act) if the Tax Matters Member decides to make that election, and (ii) expressly agrees to take any action, and to deliver to the Tax Matters Member as soon as reasonably practicable after
receipt of a request therefor, with any information within such Member’s possession and necessary to give effect to such election. Each Member hereby severally indemnifies and holds the Company and each other Member (including the Tax Matters
Member) harmless from and against such Member’s respective portion of the financial burden of any Imputed Underpayment as provided in the preceding sentence. 
  

	 	Section 8.4	Books and Records 

 The Tax Matters Member shall use commercially reasonable efforts to
provide tax returns to all Members within 120 days after the end of the relevant fiscal year. The books and records of the Company shall reflect all Company transactions and shall be appropriate and adequate for the Company’s business. The
books and records of the Company shall include a record of each transfer of participating interests of the Company. The taxable year of the Company for federal income tax purposes shall be the calendar year or such other taxable year as is required
for U.S. federal income tax purposes. All books and records of the Company shall be maintained at any office of the Company or at the Company’s principal place of business in the United States, and each Member, and any duly authorized
representative, shall have access to them at such office of the Company and the right to inspect and copy them at reasonable times. The Company’s books of account shall be kept on an accrual basis or as otherwise provided by the Management
Board and otherwise in accordance with generally accepted accounting principles, consistently applied, except that for income tax purposes such books shall be kept in accordance with applicable tax accounting principles (including the Regulations).

  

	 	Section 8.5	Survival 

 The provisions of this Article VIII shall survive the termination of the
Company (as well as any termination, purchase or redemption of any Member’s interest in the Company for any reason whatsoever), and shall remain binding on the Members and all former Members for a period of time necessary to resolve with the
appropriate taxing authorities any and all material matters regarding the taxation of the Company and its Members by reason of their percentage interests. 

  
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 ARTICLE IX. 

REPRESENTATIONS AND WARRANTIES 
  

	 	Section 9.1	Representations and Warranties of Members 

 Each of the Members hereby represents and
warrants to the Company and to each of the other Members, as of the date hereof, that: 
 (a) If it is a corporation, a limited liability
company or limited partnership, it is as of the date hereof, duly incorporated or otherwise duly organized, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or organization, and if it is a partnership, is
as of the date hereof, validly constituted and not dissolved, and, in each case, has the power and lawful authority to own its assets and properties and to carry on its business as now conducted. 

(b) It has, as of the date hereof, the full right, power and authority to enter into, execute and deliver this Agreement and to perform fully
its obligations hereunder. This Agreement has been, fully executed and delivered by such Member and, assuming the due execution and delivery by the other parties, constitutes, in the case of this Agreement, the valid and binding obligation of such
Member, enforceable in accordance with its terms, except as (i) such enforceability may be limited by bankruptcy, reorganization or moratorium or other similar Laws affecting the enforcement of creditors’ rights generally and (ii) the
availability of equitable remedies may be limited by equitable principles of general applicability. 
 (c) No approval or consent of any
Governmental Entity or of any other Person is required in connection with the execution and delivery by it of this Agreement and the consummation and performance by such member of the transactions contemplated hereunder, except such as have been
obtained and are in full force and effect. 
 (d) The execution and delivery of this Agreement by it, the consummation of the transactions
contemplated hereunder and the performance by such Member of its obligations under this Agreement, in accordance with the terms and conditions hereof, will not, as of the date hereof, conflict with or result in the breach or violation of any of the
terms or conditions of, or constitute (or with notice or lapse of time or both would constitute) a default under: (i) if it is a corporation, a limited liability company, limited partnership or other entity, the certificate of incorporation,
by-laws, certificate of formation, limited liability company agreement or other constitutive documents of such Member; (ii) any instrument or contract to which such Member is a party or by or to which it or its assets or properties are bound or
subject; or (iii) any Law, except, in each case, for such breaches violations or defaults that would not, individually or in the aggregate, materially impair the ability of such Member to perform its obligations hereunder. 

(e) It understands that there are substantial risks to an investment in the Company and it has both the sophistication to be able to fully
evaluate the risk of an investment in the Company and the capacity to protect its own interests in making such investment. Such Member fully understands and agrees that the investment in the Company is an illiquid investment. 

(f) If it is an Investor Member, it is a QIB or an “accredited investor” within the meaning of the 1933 Act and is able to
bear the economic risk of such an investment in the Company for an indefinite period of time, that it has no need for liquidity of this investment and it could bear a complete loss of this investment. Each such Investor Member is either (i) a
“qualified purchaser” within the meaning of the 1940 Act or (ii) if the Member is an entity formed and is being utilized primarily for the purpose of making an investment in the Company, each beneficial owner of such
Member’s securities is such a qualified purchaser. 

  
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 (g) It is acquiring its Units for investment solely for such Member’s own account and not
for distribution, Transfer or sale to others in connection with any distribution or public offering. It understands that, irrespective of whether or not the Units might be deemed “securities” under applicable Laws, the Company is not
obligated to register any Units for resale under the 1933 Act or any applicable state securities Laws. 
 (h) It specifically understands
and agrees that no other Member has made nor will make any representation or warranty with respect to the worthiness, terms, value or any other aspect of the Company, any Units or the Keane Group Stock and it explicitly disclaims any warranty,
express or implied, with respect to such matters. In addition, such Member specifically acknowledges, represents and warrants that (i) it is not relying on any other Member, for its own due diligence concerning, or evaluation of, the Company or
any related transaction and (ii) that it is not relying on any other Member with respect to tax and other economic considerations involved in an investment in the Company. 

(i) No broker, investment banker, financial advisor or other Person is entitled to any broker’s, finder’s, financial advisor’s
or other similar fee or commission in connection with the Company based upon arrangements made by or on behalf of such Member. 
  

	 	Section 9.2	ERISA Representation 

 Each of the Members represents, warrants and covenants to each
other Members and to the Company that no portion of the assets being used by it to purchase and hold its Units constitute assets of a plan within the meaning of Section 3(32) of ERISA. 

 

	 	Section 9.3	Survival 

 The representations and warranties of the Members contained in this Agreement
shall survive the Effective Date. 
 ARTICLE X. 

DISSOLUTION AND TERMINATION OF THE COMPANY 
  

	 	Section 10.1	Dissolution 

 The Company shall be dissolved and its affairs wound up upon the entry of a
decree of judicial dissolution pursuant to Section 18-802 of the Act. 
  

	 	Section 10.2	Continuation of Interest of Member’s Representative 

 Notwithstanding anything
contained herein, upon the expulsion, receivership, dissolution or Bankruptcy of a Member, the personal representative, trustee-in-bankruptcy, debtor-in-possession, receiver, other representative, successor, heir or legatee (each, a
“Representative”) of such Member shall, subject to the provisions of Article V, immediately succeed to the Units of such Member in the Company. Such Representative shall appoint an individual (which may be such Representative) who
will represent the Representative’s voting interest, if any. 

  
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	 	Section 10.3	Dissolution, Winding Up and Liquidation 

 (a) Upon the consummation of any dissolution,
liquidation or similar event of the Company, other than in connection with a Sale-of-the-Company, the Class C Interests shall be converted into Class A Units; provided, that in such case (i) the valuation of the Company shall be
determined based upon the valuation obtained in connection with such liquidation or dissolution event by a nationally recognized independent valuation firm that is experienced with the valuation of companies in similar businesses to the Company and
(ii) the number of converted Class A Units shall have an aggregate valuation equal to the dollar amount that would be distributed to the Holders of the Class C Interests pursuant to Section 7.1. 

(b) Upon the consummation of any dissolution, liquidation or similar event of the Company, the Company shall continue solely for purposes of
winding up its affairs in an orderly manner, liquidating its assets, and satisfying claims of its creditors. The liquidator of the Company shall take full account of the Company’s liabilities and property and shall cause the property or the
proceeds from the sale thereof, to the extent sufficient therefor, to be applied and distributed, to the maximum extent permitted by Law, in the following order: 

(i) first, to creditors (including Members who are creditors) in satisfaction of all of the Company’s debts and other liabilities
(including any liabilities pursuant to any Unit repurchase obligation of the Company that are then due and payable), including the expenses of the winding-up, liquidation and dissolution of the Company (whether by payment or the making of reasonable
reserves to provide for payment thereof); and 
 (ii) second, to the Members in accordance with Section 7.1. 

(c) Distributions pursuant to this Section 10.3 shall be made no later than the end of the Fiscal Year during which the Company is
liquidated (or, if later, 90 days after the date on which the Company is liquidated). 
  

	 	Section 10.4	Member Bankruptcy 

 (a) Notwithstanding any other provision of this Agreement, the
Bankruptcy of a Member shall not cause the Member to cease to be a member of the Company and upon the occurrence of such an event, the Company shall continue without dissolution. 

(b) Notwithstanding any other provision of this Agreement, each of the Members waives any right it might have to agree in writing to dissolve
the Company upon the Bankruptcy of the Members, or the occurrence of an event that causes the Member to cease to be a member of the Company. 

  
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 ARTICLE XI. 

INDEMNIFICATION AND CONTRIBUTION 
  

	 	Section 11.1	Exculpation and Indemnification 

 Each of the Covered Persons (each, an
“Indemnitee”) shall, to the fullest extent permitted by the Act or other applicable Law, be exculpated from, and indemnified by, the Company against any liability, loss, damage, penalty, action, claim, judgment, settlement, cost or
expense of any kind or nature whatsoever (including, without limitation, all reasonable attorneys’ fees, costs and expenses of defense, appeal and settlement of any proceedings instituted against such Indemnitee or the Company (or prior to the
Effective Date, Keane Group Holdings, LLC, as applicable) and all costs of investigation in connection therewith) that relates to or arises out of, or is alleged to relate to or arise out of, any action or inaction on the part of the Company (or
prior to the Effective Date, Keane Group Holdings, LLC, as applicable) or such Indemnitee acting on behalf of the Company (or prior to the Effective Date, Keane Group Holdings, LLC, as applicable) (collectively, “Indemnifiable
Losses”), other than acts or omissions involving fraud, willful misconduct, gross negligence or knowing violations of criminal law. The Company shall advance expenses incurred by such Indemnitee upon the receipt by the Company of the signed
statement of such Indemnitee agreeing to reimburse the Company for such advance in the event it is ultimately determined that such Indemnitee is not entitled to be indemnified by the Company for such expenses. No Indemnitee shall be liable
(i) for the acts, receipts, neglects, defaults or omissions of any other Indemnitee or agent of the Company (or prior to the Effective Date, Keane Group Holdings, LLC, as applicable), (ii) for any loss on account of defect of title to any
property of the Company (or prior to the Effective Date, Keane Group Holdings, LLC, as applicable), (iii) on account of the insufficiency of any security in or upon which any money of the Company (or prior to the Effective Date, Keane Group
Holdings, LLC, as applicable) shall be invested or (iv) for any loss incurred through any bank, broker or other similar person. An Indemnitee that is a Manager shall not be denied exculpation and indemnification, or the advancement of expenses,
in whole or in part, under this Section 11.1 solely because such Indemnitee had an interest in the transaction with respect to which the exculpation, indemnification or advancement of expenses is related if the transaction was otherwise
permitted by the terms of this Agreement. Notwithstanding the foregoing, (A) the Keane Parties shall remain liable for breaches of their representations, warranties and covenants contained in the Initial Purchase Agreement, and nothing herein
(including the execution of this Agreement) shall expand or reduce the Keane Parties’ indemnification obligations under the Initial Purchase Agreement, (B) Trican shall remain liable for breaches of its representations, warranties and
covenants contained in the Trican Purchase Agreement, and nothing herein shall affect Trican’s indemnification obligations under the Trican Purchase Agreement and (C) Keane Group Holdings, LLC shall remain liable for breaches of its
representations, warranties and covenants contained in the Trican Purchase Agreement, and nothing herein shall affect the Keane Group Holdings, LLC’s indemnification obligations under the Trican Purchase Agreement. 

 

	 	Section 11.2	Not Exclusive 

 The indemnification and advancement of expenses provided by or granted
pursuant to this Article XI shall not be deemed exclusive of any other rights to which Indemnitees may be entitled under any agreement. 
  

	 	Section 11.3	Insurance 

 The Company may purchase and maintain insurance on behalf of any Person that
is or was a Member, Manager, officer, employee or agent of the Company (or prior to the 

  
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Effective Date, Keane Group Holdings, LLC, as applicable), or is or was serving at the request of the Company (or prior to the Effective Date, Keane Group Holdings, LLC, as applicable) as a
Member, Manager, director, officer, employee or agent of another organization, against any liability asserted against him or her and incurred by him or her in any such capacity, or arising out of his or her status as such, whether or not he or she
would be entitled to indemnity against such liability under the provisions of this Article XI. 
  

	 	Section 11.4	Beneficiaries 

 The indemnification and advancement of expenses provided by, or granted
pursuant to, this Article XI shall continue as to a Person that has ceased to be a Member, Manager, officer, employee or agent with respect to the period in which such Person is a Member, Manager, officer, employee or agent and shall inure to the
benefit of the executors and administrators of such a Person. 
  

	 	Section 11.5	Indemnification Procedure for Third Party and Other Claims 

 The Company shall have the
right, but not the obligation, exercisable by written notice to the Person seeking such indemnification hereunder (the “Indemnified Party”) promptly but in any event no later than 30 days after receipt of written notice from the
Indemnified Party of the commencement of or assertion of any claim, action, suit or proceeding by a third party in respect of which indemnity may be sought hereunder (a “Third Party Claim”), to assume the defense and control the
settlement of such Third Party Claim that (a) involves (and continues to involve) solely money damages or (b) involves (and continues to involve) claims for both money damages and equitable relief against the Indemnified Party that cannot
be severed, where the claims for money damages are the primary claims asserted by the third party and the claims for equitable relief are incidental to the claims for money damages. The Indemnified Party shall have the right to assume the defense
and control the settlement of any Third Party Claim (i) not described in clauses (a) or (b) of the preceding sentence or (ii) described in clauses (a) or (b) of the preceding sentence whose defense and control of
settlement has not been promptly assumed by the Company. The Company or the Indemnified Party, as the case may be, shall have the right to participate in (but not control), at its own expense, the defense of any Third Party Claim that the other is
defending, as provided in this Agreement. The Company, if it has assumed the defense of any Third Party Claim as provided in this Agreement, shall not consent to a settlement of, or the entry of any judgment arising from, any such Third Party Claim
without the Indemnified Party’s prior written consent (which consent shall not be unreasonably withheld). The Company shall not, without the Indemnified Party’s prior written consent, enter into any compromise or settlement which
(x) commits the Indemnified Party to take, or to forbear to take, any action or (y) does not provide for a complete release by such third party of the Indemnified Party. The Indemnified Party shall have the sole and exclusive right to
settle any Third Party Claim, on such terms and conditions as it deems reasonably appropriate, to the extent such Third Party Claim involves equitable or other non-monetary relief against the Indemnified Party, and shall have the right to settle any
Third Party Claim involving money damages for which the Company has not assumed the defense pursuant to this Section 11.5 with the written consent of the indemnifying party, which consent shall not be unreasonably withheld or delayed. 

  
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	 	Section 11.6	Other Claims 

 In the event an Indemnified Party shall claim a right to payment pursuant
to this Agreement for other than a Third Party Claim, such Indemnified Party shall send written notice of such claim to the indemnifying party. Such notice shall specify the basis for such claim. As promptly as possible after the Indemnified Party
has given such notice, the Indemnified Party and the Company shall attempt to resolve such claim by mutual agreement before resorting to other legal means to resolve such claim. 

 

	 	Section 11.7	Limitation on Damages 

 Notwithstanding anything contained in this Agreement to the
contrary, no party shall be liable to the other party for any indirect, special, punitive, exemplary or consequential loss or damage (including any loss of revenue or profit) arising out of this Agreement including, without limitation, in respect of
any breach by any Member of this Agreement; provided, that the foregoing shall not be construed to preclude recovery by the Indemnified Party in respect of Indemnifiable Losses directly incurred from Third Party Claims. Any Indemnitee shall
take commercially reasonable actions to mitigate his, her, its or their damages. The obligation of any Member to indemnify any Person(s) pursuant to this Agreement is limited, in the aggregate for all claims, to such Member’s Units, and no
Person claiming indemnification or otherwise making any claim against a Member shall have recourse against such Member for any deficiency. 

ARTICLE XII. 
 MISCELLANEOUS
PROVISIONS 
  

	 	Section 12.1	Entire Agreement 

 This Agreement, the Member Contribution and Exchange Agreements,
employment agreements with the Company or one of its Affiliates, any Side Letters and the Certificate of Formation constitute the complete and exclusive statement of the agreement among the Members with respect to the subject matter contained herein
and therein. This Agreement, the Member Contribution and Exchange Agreements, employment agreements with the Company or one of its Affiliates, any Side Letters and the Certificate of Formation replace and supersede all prior agreements by and among
the Members with respect to the subject matter contained herein and therein. 
  

	 	Section 12.2	Amendments 

 (a) This Agreement may be amended from time to time in writing by a
majority of the Management Board; provided that any amendment that has a materially disproportionate and adverse effect to a specific holder of Units shall require the written consent of such holder (provided, further, that any materially
disproportionate and adverse effect to a holder resulting from the failure of such holder to exercise a right to participate on a proportionate basis and otherwise on the basis of the governance provisions set forth in this Agreement in a
transaction effected in accordance with this Agreement shall be disregarded for purposes of this Section 12.2). For the avoidance of doubt, subject to Section 3.2(c), this Agreement may be amended from time to time in writing by a majority
of the Management Board to the extent necessary or appropriate in the judgment of a majority of the Management 

  
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Board to reflect the rights of any Equity Securities issued by the Company in accordance with this Agreement. Notwithstanding anything herein to the contrary, if Treasury Regulations or other
administrative announcements promulgated under the provisions of the Bipartisan Budget Act of 2015 are adopted as final (or temporary) rules (the “New Rules”), the Management Board is authorized to make such amendments to this
Agreement (including provision for any safe harbor election authorized by the New Rules) as the Managers may determine to be necessary or advisable to comply with, administer or reflect the New Rules and to administer the effects of such provisions
in an equitable manner; provided, that such amendments do not materially alter the economic rights of the Members under this Agreement other than the timing of distributions pursuant to Article VII. 

(b) Notwithstanding the foregoing, for as long as: (i) Trican has voting approval rights in connection with Section 3.2(c)(i),
subject to Section 3.2(c)(iii), the definition of “Major Decision” (or if Trican ceases to Hold at least 50% of the Class A Units Held by it on the Effective Date as provided in Section 3.2(c)(iii), solely with respect to
items (i), (ii), (iv), (v), (viii)-(xi) and (xiv) of the definition of “Major Decision”) shall not be amended or modified without the prior written consent of Trican; and (ii) the Keane Parties have voting approval rights in
connection with Section 3.2(c)(i), subject to Section 3.2(c)(ii), the definition of “Major Decision” (or if the Keane Parties cease to Hold at least 50% of the Class A Units Held by them on the Effective Date as provided in
Section 3.2(c)(ii), solely with respect to items (i), (ii), (iv), (v), (viii)-(xi) and (xiv) of the definition of “Major Decision”) shall not be amended or modified without the prior written consent of the Keane
Representative acting on behalf of the Keane Parties Holding in excess of 50% of the Class A Units then Held by the Keane Parties. 
  

	 	Section 12.3	Applicable Law; Venue 

 (a) The laws of the State of Delaware, without reference to
conflict of laws principles, shall govern the validity, construction and interpretation of this Agreement and the Certificate of Formation. 

(b) Each party to this Agreement hereby irrevocably agrees that any legal action or proceeding arising out of or relating to this Agreement
or any agreements or transactions contemplated hereby may be brought exclusively in the Chancery Court of the State of Delaware and hereby expressly submits to the personal jurisdiction and venue of such court for the purposes thereof and expressly
waives any claim of improper venue and any claim that such courts are an inconvenient forum. Each party hereby irrevocably consents to the service of process of any of the aforementioned courts in any such suit, action or proceeding by the mailing
of copies thereof by registered or certified mail, postage prepaid, to the address provided to the Company in accordance with Section 12.10, such service to become effective ten days after such mailing. 

 

	 	Section 12.4	Enforcement 

 In the event of an action, suit or proceeding initiated by one Member
against another Member or the Company involving the enforcement of its rights hereunder, the prevailing party shall be entitled to indemnification from the other party of reasonable attorneys’ fees and expenses incurred in enforcing its rights
in such action, suit or proceeding in accordance with this Section, or in accordance with an employment agreement. 

  
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	 	Section 12.5	Headings 

 The headings in this Agreement are inserted for convenience only and are in no
way intended to describe, interpret, define, or limit the scope, extent or intent of this Agreement or any provisions contained herein. 
  

	 	Section 12.6	Severability 

 If any provision of this Agreement or the application thereof to any
Person or circumstance shall be deemed invalid, illegal or unenforceable to any extent, the remainder of this Agreement and the application thereof shall not be affected and shall be enforceable to the fullest extent permitted by Law. 

 

	 	Section 12.7	Counterparts 

 This Agreement may be executed in several counterparts with the same
effect as if the parties executing the several counterparts had all executed one counterpart. 
  

	 	Section 12.8	Filings 

 Following the execution and delivery of this Agreement, representatives of the
Company, shall promptly prepare any documents required to be filed and recorded under the Act, and such representatives shall promptly cause each such document to be filed and recorded in accordance with the Act and, to the extent required by local
Law, to be filed and recorded or notice thereof to be published in the appropriate place in each jurisdiction in which the Company may hereafter establish a place of business. Such representatives, shall also promptly cause to be filed, recorded and
published such statements of fictitious business name and any other notices, certificates, statements or other instruments required by any provision of any applicable Law of the United States or any state or other jurisdiction which governs the
conduct of its business from time to time. 
  

	 	Section 12.9	Additional Documents 

 Each Member agrees to perform all further acts and to execute,
acknowledge and deliver any documents that may be reasonably necessary to carry out the provisions of this Agreement. 
  

	 	Section 12.10	Notices 

 All notices, requests and other communications to any party hereunder shall be
in writing (including facsimile) and shall be effective and deemed delivered or given, as the case may be, (a) if given by facsimile, when transmitted and the appropriate confirmation is received from the machine transmitting such facsimile,
and followed by hard copy via overnight mail or reputable overnight courier for receipt the next Business Day, (b) if given by reputable overnight 

  
 -62- 

 
courier, on the next Business Day, (c) by hand delivery, when delivered or (d) if mailed, on the second Business Day following the day on which sent by first class mail: 

If to the Company, addressed as follows: 

Keane Investor Holdings LLC 

2121 Sage Road, Suite 370 

Houston, TX 77056 
 Facsimile:
713.960.1048 
 Attention: James Stewart, Chairman and Chief Executive Officer 

                          
        Greg Powell, President and Chief Financial Officer 
 With a copy to: 

Schulte Roth & Zabel LLP 

919 Third Avenue 
 New York, NY
10022 
 Attention: Stuart D. Freedman, Esq. 

                          
        Antonio L. Diaz-Albertini, Esq. 
 Facsimile number: (212) 593-5955 

If to the Cerberus Funds or the Cerberus Representative, addressed as follows: 

c/o Cerberus Capital Management, L.P. 

875 Third Avenue, 11th Floor 

New York, NY 10022 
 Attention:
Lenard Tessler 

                          
        Scott Wille 

                          
        Lisa A. Gray, Esq. 
 Facsimile number: (212) 755-3009 

With a copy to: 
 Schulte
Roth & Zabel LLP 
 919 Third Avenue 

New York, NY 10022 
 Attention:
Stuart D. Freedman, Esq. 

                          
        Antonio L. Diaz-Albertini, Esq. 
 Facsimile number: (212) 593-5955 

If to Trican, addressed as follows: 

Trican Well Service Ltd. 
 2900,
645 - 7th Ave SW 
 Calgary, AB | T2P 4G8 

Facsimile: 403.231.7975 

Attention: Dale Dusterhoft, Chief Executive Officer 

                          
        Bonita Croft, VP, General Counsel and Corporate Secretary 

  
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 With a copy to: 

Trican Well Service, L.P. 
 c/o
Trican Well Service Ltd. 
 2900, 645 - 7th Ave SW 

Calgary, AB | T2P 4G8 
 Facsimile:
403.231.7975 
 Attention: Dale Dusterhoft, Chief Executive Officer 

                          
        Bonita Croft, VP, General Counsel and Corporate Secretary 
 With an additional copy to: 

Blake, Cassels & Graydon LLP 

Suite 3500 
 855 2nd Street S.W. 
 Calgary AB T2P 4J8 

Canada 
 Facsimile: 403.260.9700

 Attention: Ben Rogers 
 If
to any of the Keane Parties or the Keane Representative, addressed as follows: 
 S&K Management Services, LLC 

101 Keane Road 
 Lewis Run, PA
16738 
 Facsimile: (814) 363-9381 

Attention: Shawn Keane and Kevin Keane 

With a copy to: 

Blair & Roach, LLP 

2645 Sheridan Drive 
 Tonawanda,
NY 14150 
 Facsimile: (716) 834-9197 

Attention: John Blair, Esq. 
 If
to the other Members, at the addresses or facsimile numbers set forth on the signature page to this Agreement or such other addresses or facsimile numbers as such Members may hereafter specify to the Management Board or the Company. 

  
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	 	Section 12.11	Waiver of Right to Partition and Bill of Accounting 

 To the fullest extent permitted by
applicable Law, each Member covenants that it will not, and hereby waives any right to, file a bill for partnership accounting. Each Member irrevocably waives any right that it may have to maintain any action for dissolution of the Company (unless
the Company is dissolved pursuant to Section 10.1). 
  

	 	Section 12.12	Confidentiality; Press Releases 

 (a) In connection with the formation of the Company
and its and its Affiliates’ ongoing business, the Members will receive or have access to Confidential Information. “Confidential Information” means (i) all information, data, agreements, documents, reports and records,
which are oral or in writing, containing confidential information concerning the Company or its Affiliates or their businesses or assets which are delivered or made available by the Company or its representatives to a Member or its representatives
after the date of the formation of the Company, and (ii) all memoranda, notes, analyses, compilations, studies or other documents which include any such Confidential Information, whether prepared by the Company, a Member or their respective
representatives, which contain any such Confidential Information; provided, however, that Confidential Information does not include (x) information which is obtained by such Member after the Effective Date from a source other than
the Company or its representatives, (y) information which is or becomes generally available to the public other than as a result of a disclosure by a Member in violation of this Section 12.12, or (z) information developed
independently by a Member without use of the Confidential Information. 
 (b) No Member, nor any Affiliate of any Member, shall
(i) disclose or cause to be disclosed any Confidential Information to any Person nor use any Confidential Information for its own purposes or its own account, except as provided in Section 12.12(c), Section 12.12(d),
Section 12.12(e) and Section 12.12(g), or (ii) use any Confidential Information other than (x) to review and evaluate such Member’s investment in the Company or (y) in connection with any transactions contemplated or
permitted by this Agreement (as amended from time to time) to the extent such transactions are not competitive with the Company or its Subsidiaries, in the oilfield services business. For the avoidance of doubt, in connection with the foregoing, a
“Sale-of-the-Company” shall not be considered under any circumstances to be “competitive” with the Company or its Subsidiaries. 

(c) A Member (a “Disclosing Member”) may disclose the Confidential Information to its representatives and bona fide lenders
and debt financing sources who (i) need to know such information to review and evaluate such Member’s investment in the Company, (ii) are informed of the confidential nature of the Confidential Information and (iii) agree to
maintain the confidentiality of the Confidential Information. The Disclosing Member agrees to be fully responsible for any breach of this Section 12.12 by any of its representatives, lenders and debt financing sources. 

(d) Notwithstanding anything to the contrary set forth in this Section 12.12, if a Member or any of its representatives are required to
disclose any Confidential Information pursuant to any applicable Law or judicial or regulatory order, or to comply with applicable reporting requirements under the Federal securities Laws or the rules of any exchange or self-regulatory organization
to which such Member or its Affiliates is subject, such Member 

  
 -65- 

 
will, if possible, promptly notify the Company of any such requirement so that the Company may seek an appropriate protective order or waive compliance with the provisions of this
Section 12.12. If such order is not obtained, or the Company waives compliance with the provisions of this Section 12.12, such Member and its representatives will disclose only that portion of the Confidential Information, which they are
advised by counsel that, they are legally required to so disclose. In the event that such Member and its representatives shall have complied fully with the provisions of this Section 12.12(d), the Company agrees that such disclosure may be made
by such Member and its representatives without any liability hereunder. 
 (e) The parties hereto acknowledge that, as of the date hereof,
Trican Parent is a reporting issuer under Canadian securities Laws and is listed on the Toronto Stock Exchange, and accordingly may be required to disclose to the public certain financial and business information regarding the Company and its
interest therein. To the extent such information is material to Trican Parent under applicable Canadian securities laws, Trican and Trican Parent shall, subject to the final sentence of this Section 12.12(e), be permitted to disclose and file
publicly such information, if required to do so by Canadian securities Laws (as advised by legal counsel), and only such information, regarding the Company and Trican’s interest in the Company as is required for Trican Parent to comply with the
requirements of applicable Canadian securities Laws and the rules of the Toronto Stock Exchange or any other exchanges on which securities of Trican Parent may be listed from time to time. For greater certainty, to the extent that Trican Parent is
required to publicly disclose information about its interests in the Company under applicable Canadian securities Laws, Trican Parent will: (a) notify the Company of the existence of the disclosure requirement; and (b) provide the Company
with a reasonable opportunity to provide its input to Trican Parent regarding the nature and content of the information to be disclosed (which input shall be reflected in any such public disclosure unless unlawful or unreasonable to do so). 

(f) Subject to Section 12.12(e), if Trican Parent is required, in order to comply with its obligations under applicable Canadian
securities Laws, to publicly file a copy of a contract that is material to Trican Parent to which the Company or any of its Subsidiaries is a party, or to disclose a summary of any such material contract in its continuous disclosure record, Trican
Parent will: (a) notify the Company of the existence of the disclosure requirement, and (b) provide the Company with a reasonable opportunity to provide its input to Trican Parent regarding the nature and content of the information to be
disclosed, including as to any redactions of commercially sensitive confidential information from a material contract that is required to be filed. Upon the reasonable request of the Company, Trican Parent will redact confidential information
from a material contract prior to public filing thereof to the extent that such redaction is permitted under applicable Canadian securities Laws. 

(g) Notwithstanding anything in this Agreement to the contrary, to comply with Treas. Reg. Section 1.6011-4(b)(3)(i), each Member (and
any employee, representative or other agent of such Member) may disclose to any and all Persons, without limitation of any kind, the U.S. federal income tax treatment and tax structure of the Company or any transactions undertaken by the Company, it
being understood and agreed, for this purpose, (a) the name of, or any other identifying information regarding (i) the Company or any existing or future Member (or any affiliate thereof) in the Company, or (ii) any investment or
transaction entered into by the Company; and (b) any performance information relating to the Company, 

  
 -66- 

 
does not constitute such tax treatment or tax structure information. Except as may be required by applicable Law or judicial or regulatory order, to comply with applicable reporting requirements
under the Federal securities Laws or the rules of any exchange or self-regulatory organization to which such Member is subject, no Member shall publicly make any public announcements or issue any press release regarding this Agreement or the Company
or its business; provided, however, each Investor Member may consult with and obtain the approval of the other Investor Members before issuing a press release or other public announcement with respect to this Agreement and may issue a
press release or make a public announcement following such consultation and approval. 
  

	 	Section 12.13	Uniform Commercial Code 

 Each limited liability company interest in the Company shall
constitute a “security” within the meaning of, and governed by, (i) Article 8 of the Uniform Commercial Code (including Section 8 102(a)(15) thereof) as in effect from time to time in the State of Delaware, and (ii) Article
8 of the Uniform Commercial Code of any other applicable jurisdiction that now or hereafter substantially includes the 1994 revisions to Article 8 thereof as adopted by the American Law Institute and the National Conference of Commissioners on
Uniform State Laws and approved by the American Bar Association on February 14, 1995. 
  

	 	Section 12.14	Binding Agreement 

 Notwithstanding any other provision of this Agreement, the Members
agree that this Agreement constitutes a legal, valid and binding agreement of the Members, and is enforceable against the Members by the Company in accordance with its terms. 
  

	 	Section 12.15	DISCLOSURES 

 THE INTERESTS OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR THE SECURITIES LAWS OF ANY STATE AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND SUCH LAWS. THE INTERESTS ARE SUBJECT TO
RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE 1933 ACT AND SUCH LAWS PURSUANT TO EXEMPTION FROM REGISTRATION THEREUNDER. THERE WILL NOT BE ANY PUBLIC MARKET FOR THE INTERESTS. IN
ADDITION, THE TERMS OF THIS AGREEMENT RESTRICT THE TRANSFERABILITY OF INTERESTS. 
 [Remainder of page intentionally left blank. Signature
page follows.] 

  
 -67- 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement, effective as of the date
first above written. 
  

					
	Keane Investor Holdings LLC
		
	By:	 	  

		 	Name:	 	Gregory L. Powell
		 	Title:	 	Authorized Person

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

 
			
	Cerberus Capital Management, L.P., as the Cerberus Representative
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

 
			
	Cerberus International II Master Fund, L.P.
	
	By:   Cerberus Associates II, Ltd., its General Partner
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

			
	Cerberus Institutional Partners, L.P. – Series Four
	
	By:   Cerberus Institutional Associates, L.L.C., its General Partner
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

			
	Cerberus Institutional Partners V, L.P.
		
	By:	 	  Cerberus Institutional Associates II, L.L.C.
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

			
	Cerberus CP Partners, L.P.
	
	By:   Cerberus Institutional Associates CP, L.L.C., its General Partner
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

			
	Cerberus MG Fund, L.P.
		
	By:	 	  Cerberus MG GP, LLC, its General Partner
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

			
	CIP VI Overseas Feeder, Ltd.
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

			
	CIP VI Institutional Feeder, L.P.
	
	By:   Cerberus Institutional Associates III, Ltd., its General Partner
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

			
	JS Keane Coinvestor, LLC
	
	By:   Cerberus Capital Management, L.P., its Manager
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

			
	KCK Family Limited Partnership, L.P.
	
	By: KCK FLP Management, LLC its General Partner
		
	By:	 	  

		 	Name:
		 	Title:
	
	S&K Management Services, LLC
		
	By:	 	  

		 	Name:
		 	Title:
	
	SJK Family Limited Partnership, L.P.
	
	By: SJK FLP Management, LLC its General Partner
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

			
	Trican Well Service, L.P.
	
	By: TriLib Management LLC, its General Partner
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

 
	
	  
 Timothy J. Adams

	
	  

	Nathan Carrell
	
	  

	Sang Cho
	
	  

	Brian Coe
	
	  

	M. Paul Debonis Jr.
	
	  

	Ian J. Henkes
	
	  

	Brian Keane
	
	  

	Cindy Keane
	
	  

	Jacquelyn Keane
	
	  

	Kevin Keane
	
	  

	Shawn J. Keane
	
	  

	Timothy Keane

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

 
	
	  

	Kevin M. McDonald
	
	  

	Gregory L. Powell
	
	  

	Kenneth Pucheu
	
	  

	James C. Stewart

  
 [Signature Page to LLC
Agreement of Keane Investor Holdings LLC] 

 SCHEDULE A 

MANAGEMENT MEMBERS 
 James Stewart 

Greg Powell 
 Paul Debonis 

Tim Adams 
 Brian Coe 

Ian Henkes 
 Sang Cho 

Nathan Carrell 
 Kenneth Pucheu 

Kevin McDonald 

 SCHEDULE B 

UNITS 
  

					
	 MEMBER’S

NAME
	 	 UNITS
	 	 OWNERSHIP

PERCENTAGE

		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	
	 TOTAL
	 		 	

 SCHEDULE C 

FIRST CLASS C THRESHOLD SCHEDULE 
  

			
	 Date
	  	 Amount

		
	From the Trican Closing Date to the day before the first anniversary of the Trican Closing Date	  	$608,000,000 plus Management Distributions
		
	From the first anniversary of the Trican Closing Date to the day before the second anniversary of the Trican Closing Date	  	$791,000,000 plus Management Distributions
		
	From the second anniversary of the Trican Closing Date to the day before the third anniversary of the Trican Closing Date	  	$1,028,000,000 plus Management Distributions
		
	From the third anniversary of the Trican Closing Date to the day before the fourth anniversary of the Trican Closing Date	  	$1,336,000,000 plus Management Distributions
		
	From the fourth anniversary of the Trican Closing Date to the day before the fifth anniversary of the Trican Closing Date	  	$1,737,000,000 plus Management Distributions
		
	On or after the fifth anniversary of the Trican Closing Date	  	130% of the amount in effect for the previous year, plus Management Distributions

 SCHEDULE D 

SECOND CLASS C THRESHOLD SCHEDULE 
  

			
	 Date
	  	 Strike Amount

		
	From the Trican Closing Date to the day before the first anniversary of the Trican Closing Date	  	$632,000,000 plus Management Distributions
		
	From the first anniversary of the Trican Closing Date to the day before the second anniversary of the Trican Closing Date	  	$853,000,000 plus Management Distributions
		
	From the second anniversary of the Trican Closing Date to the day before the third anniversary of the Trican Closing Date	  	$1,151,000,000 plus Management Distributions
		
	From the third anniversary of the Trican Closing Date to the day before the fourth anniversary of the Trican Closing Date	  	$1,554,000,000 plus Management Distributions
		
	From the fourth anniversary of the Trican Closing Date to the day before the fifth anniversary of the Trican Closing Date	  	$2,098,000,000 plus Management Distributions
		
	On or after the fifth anniversary of the Trican Closing Date	  	135% of the amount in effect for the previous year, plus Management Distributions

 EXHIBIT A 

INSTRUMENT OF ACCESSION 

The undersigned,                     
                    , as a condition precedent to becoming the owner or holder of record of
                    
(                    ) [Class A] [Class B] [Class C] Units of Keane Investor Holdings LLC, a Delaware limited liability company (the
“Company”), hereby agrees to become a Member under, party to and bound by that certain Limited Liability Company Agreement of the Company, dated as of
                     (the “LLC Agreement”), by and among the Company and the Members of the Company. This Instrument of
Accession shall take effect and shall become an integral part of such LLC Agreement immediately upon execution and delivery to the Company of this Instrument of Accession. 

IN WITNESS WHEREOF, the undersigned has caused this INSTRUMENT OF ACCESSION to be signed as of the date below written. 

 

			
	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

	Date:	 	  

	
	Address for Notices:
	
	  

	  

	Facsimile:	 	  

	Attention:	 	  

	
	with a copy to:
	
	  

	  

	Facsimile:	 	  

	Attention:	 	  

  
 Exhibit A 

			
	Accepted as of the date written below:
	
	Keane Investor Holdings LLC
		
	By:	 	
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	Date:	 	  

  
 Exhibit A 

  

 
 LIMITED LIABILITY COMPANY AGREEMENT

 OF 
 KEANE
INVESTOR HOLDINGS LLC 
 [DATE] 
  

 
  

 Table of Contents 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I. GENERAL PROVISIONS
	  	 	1	  
	 Section 1.1
	 	 Registered Office
	  	 	1	  
	 Section 1.2
	 	 Other Offices
	  	 	2	  
	 Section 1.3
	 	 Purpose; Nature of Business Permitted; Powers
	  	 	2	  
	 Section 1.4
	 	 Limited Liability of Members
	  	 	2	  
	 Section 1.5
	 	 Tax Classification; No State Law Partnership
	  	 	2	  
	 Section 1.6
	 	 Definitions
	  	 	2	  
	 Section 1.7
	 	 Certificates; Approval
	  	 	19	  
	 Section 1.8
	 	 Term
	  	 	20	  
		
	 ARTICLE II. UNITS, CAPITAL CONTRIBUTIONS AND CAPITAL ACCOUNTS
	  	 	20	  
	 Section 2.1
	 	 Units
	  	 	20	  
	 Section 2.2
	 	 Capital Contributions
	  	 	20	  
	 Section 2.3
	 	 Capital Accounts
	  	 	22	  
	 Section 2.4
	 	 Admission of New Members
	  	 	23	  
	 Section 2.5
	 	 Interest
	  	 	23	  
	 Section 2.6
	 	 Capital Withdrawal Rights, Interest and Priority
	  	 	23	  
	 Section 2.7
	 	 Management Members/Management Incentive Plan
	  	 	24	  
		
	 ARTICLE III. MANAGEMENT OF THE COMPANY
	  	 	25	  
	 Section 3.1
	 	 Company Governance
	  	 	25	  
	 Section 3.2
	 	 Authority, Duties and Obligations of the Management Board
	  	 	27	  
	 Section 3.3
	 	 Other Activities of the Members of the Management Board
	  	 	28	  
	 Section 3.4
	 	 Management Board Certifications
	  	 	29	  
	 Section 3.5
	 	 Voting Rights of Members
	  	 	29	  
	 Section 3.6
	 	 Cost of Services; Expenses
	  	 	30	  
	 Section 3.7
	 	 Certain Provisions Relating to Keane Group Stock
	  	 	30	  
		
	 ARTICLE IV. GENERAL GOVERNANCE
	  	 	33	  
	 Section 4.1
	 	 No Fiduciary Duties
	  	 	33	  
	 Section 4.2
	 	 Information
	  	 	34	  
	 Section 4.3
	 	 Access
	  	 	35	  
	 Section 4.4
	 	 Standard of Care
	  	 	36	  
	 Section 4.5
	 	 Non-Competition
	  	 	36	  
	 Section 4.6
	 	 Reduction of Trican Class A Units
	  	 	38	  
		
	 ARTICLE V. TRANSFERS OF UNITS; PREEMPTIVE RIGHTS
	  	 	39	  
	 Section 5.1
	 	 Restrictions on Transfer
	  	 	39	  
	 Section 5.2
	 	 Tag-Along Rights
	  	 	40	  
	 Section 5.3
	 	 Drag-Along Rights
	  	 	42	  
	 Section 5.4
	 	 Rights of First Refusal on New Issue Securities
	  	 	44	  
	 Section 5.5
	 	 Trican Right of First Offer; Call Option on Trican Units
	  	 	45	  
	 Section 5.6
	 	 Existing Holder ROFO
	  	 	47	  

  
 i 

 Table of Contents 

(continued) 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE VI. ALLOCATIONS
	  	 	49	  
	 Section 6.1
	 	 General Rules; Allocation of Profits and Losses
	  	 	49	  
	 Section 6.2
	 	 Other Allocation Rules
	  	 	49	  
	 Section 6.3
	 	 Tax Allocations: Code Section 704(c)
	  	 	49	  
		
	 ARTICLE VII. DISTRIBUTIONS AND EXPENSES
	  	 	50	  
	 Section 7.1
	 	 Distributions
	  	 	50	  
	 Section 7.2
	 	 Amounts Withheld
	  	 	51	  
	 Section 7.3
	 	 Expenses
	  	 	52	  
	 Section 7.4
	 	 Tax Distributions
	  	 	52	  
	 Section 7.5
	 	 Trican Repayment
	  	 	52	  
		
	 ARTICLE VIII. OTHER TAX MATTERS
	  	 	53	  
	 Section 8.1
	 	 Tax Matters Member
	  	 	53	  
	 Section 8.2
	 	 Furnishing Information to Tax Matters Member
	  	 	53	  
	 Section 8.3
	 	 Tax Claims and Proceedings
	  	 	53	  
	 Section 8.4
	 	 Books and Records
	  	 	54	  
	 Section 8.5
	 	 Survival
	  	 	54	  
		
	 ARTICLE IX. REPRESENTATIONS AND WARRANTIES
	  	 	55	  
	 Section 9.1
	 	 Representations and Warranties of Members
	  	 	55	  
	 Section 9.2
	 	 ERISA Representation
	  	 	56	  
	 Section 9.3
	 	 Survival
	  	 	56	  
		
	 ARTICLE X. DISSOLUTION AND TERMINATION OF THE COMPANY
	  	 	56	  
	 Section 10.1
	 	 Dissolution
	  	 	56	  
	 Section 10.2
	 	 Continuation of Interest of Member’s Representative
	  	 	56	  
	 Section 10.3
	 	 Dissolution, Winding Up and Liquidation
	  	 	57	  
	 Section 10.4
	 	 Member Bankruptcy
	  	 	57	  
		
	 ARTICLE XI. INDEMNIFICATION AND CONTRIBUTION
	  	 	58	  
	 Section 11.1
	 	 Exculpation and Indemnification
	  	 	58	  
	 Section 11.2
	 	 Not Exclusive
	  	 	58	  
	 Section 11.3
	 	 Insurance
	  	 	58	  
	 Section 11.4
	 	 Beneficiaries
	  	 	59	  
	 Section 11.5
	 	 Indemnification Procedure for Third Party and Other Claims
	  	 	59	  
	 Section 11.6
	 	 Other Claims
	  	 	60	  
	 Section 11.7
	 	 Limitation on Damages
	  	 	60	  
		
	 ARTICLE XII. MISCELLANEOUS PROVISIONS
	  	 	60	  
	 Section 12.1
	 	 Entire Agreement
	  	 	60	  
	 Section 12.2
	 	 Amendments
	  	 	60	  
	 Section 12.3
	 	 Applicable Law; Venue
	  	 	61	  
	 Section 12.4
	 	 Enforcement
	  	 	61	  

  
 ii 

 Table of Contents 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 Section 12.5
	 	 Headings
	  	 	62	  
	 Section 12.6
	 	 Severability
	  	 	62	  
	 Section 12.7
	 	 Counterparts
	  	 	62	  
	 Section 12.8
	 	 Filings
	  	 	62	  
	 Section 12.9
	 	 Additional Documents
	  	 	62	  
	 Section 12.10
	 	 Notices
	  	 	62	  
	 Section 12.11
	 	 Waiver of Right to Partition and Bill of Accounting
	  	 	65	  
	 Section 12.12
	 	 Confidentiality; Press Releases
	  	 	65	  
	 Section 12.13
	 	 Uniform Commercial Code
	  	 	67	  
	 Section 12.14
	 	 Binding Agreement
	  	 	67	  
	 Section 12.15
	 	 DISCLOSURES
	  	 	67	  

  
 iiiEX-10.22

 EXHIBIT 10.22 

ASSET PURCHASE AGREEMENT 

BY AND AMONG 

KEANE GROUP HOLDINGS, LLC, 

KEANE FRAC, LP, 

TRICAN WELL SERVICE LTD. 

AND 

THE SELLER COMPANIES NAMED HEREIN 

DATED AS OF JANUARY 25, 2016 

 TABLE OF CONTENTS 

 

							
	 SECTION 1.
	 	 DEFINITIONS
	  	 	2	  
			
	 1.1.
	 	 Definitions
	  	 	2	  
			
	 1.2.
	 	 Other Defined Terms
	  	 	17	  
			
	 SECTION 2.
	 	 PURCHASE AND SALE
	  	 	20	  
			
	 2.1.
	 	 Purchase and Sale of the Purchased Assets
	  	 	20	  
			
	 2.2.
	 	 Excluded Assets
	  	 	22	  
			
	 2.3.
	 	 Assumed Liabilities
	  	 	23	  
			
	 2.4.
	 	 Excluded Liabilities
	  	 	24	  
			
	 2.5.
	 	 Third Amended and Restated Keane Parent LLC Agreement
	  	 	25	  
			
	 SECTION 3.
	 	 CLOSING AND RELATED MATTERS
	  	 	25	  
			
	 3.1.
	 	 Purchase Price; Issuance of Units; Class C Profits Interest
	  	 	25	  
			
	 3.2.
	 	 Closing Cash Purchase Price
	  	 	26	  
			
	 3.3.
	 	 Closing
	  	 	26	  
			
	 3.4.
	 	 Closing Deliveries by Trican Parent
	  	 	27	  
			
	 3.5.
	 	 Closing Deliveries by Keane Parent
	  	 	27	  
			
	 3.6.
	 	 Post-Closing Adjustment
	  	 	28	  
			
	 3.7.
	 	 Purchase Price Allocation
	  	 	30	  
			
	 3.8.
	 	 Reduction to Keane Common Equity Units
	  	 	30	  
			
	 3.9.
	 	 Tax Treatment of Consideration
	  	 	31	  
			
	 SECTION 4.
	 	 REPRESENTATIONS AND WARRANTIES OF TRICAN PARENT AND THE SELLER COMPANIES
	  	 	31	  
			
	 4.1.
	 	 Organization; Corporate Power
	  	 	31	  
			
	 4.2.
	 	 Authorization and Non-Contravention
	  	 	32	  
			
	 4.3.
	 	 Solvency
	  	 	32	  
			
	 4.4.
	 	 Title to and Sufficiency and Condition of Assets
	  	 	33	  
			
	 4.5.
	 	 Consents of Purchased Contracts
	  	 	34	  
			
	 4.6.
	 	 Inventory
	  	 	34	  
			
	 4.7.
	 	 Business Financial Statements
	  	 	34	  
			
	 4.8.
	 	 Accounts Receivable
	  	 	35	  
			
	 4.9.
	 	 Absence of Certain Developments
	  	 	36	  
			
	 4.10.
	 	 Affiliate Transactions
	  	 	36	  
			
	 4.11.
	 	 Properties
	  	 	36	  

							
	 4.12.
	 	 Certain Contracts and Arrangements
	  	 	37	  
			
	 4.13.
	 	 Financial Assurances
	  	 	39	  
			
	 4.14.
	 	 Intellectual Property
	  	 	39	  
			
	 4.15.
	 	 Litigation
	  	 	41	  
			
	 4.16.
	 	 Labor Matters
	  	 	41	  
			
	 4.17.
	 	 Employee Benefit Programs
	  	 	42	  
			
	 4.18.
	 	 Permits; Compliance with Laws
	  	 	43	  
			
	 4.19.
	 	 Environmental Matters
	  	 	43	  
			
	 4.20.
	 	 Environmental, Health and Safety
	  	 	45	  
			
	 4.21.
	 	 Customers and Partners
	  	 	45	  
			
	 4.22.
	 	 Suppliers
	  	 	45	  
			
	 4.23.
	 	 Insurance Coverage
	  	 	45	  
			
	 4.24.
	 	 Investment Banking; Brokerage
	  	 	46	  
			
	 4.25.
	 	 Tax Matters
	  	 	46	  
			
	 4.26.
	 	 Opinion of Financial Advisors
	  	 	46	  
			
	 4.27.
	 	 Stay Bonuses
	  	 	46	  
			
	 SECTION 5.
	 	 REPRESENTATIONS AND WARRANTIES OF BUYER
	  	 	46	  
			
	 5.1.
	 	 Organization and Company Power
	  	 	47	  
			
	 5.2.
	 	 Capitalization and Valid Issuance
	  	 	47	  
			
	 5.3.
	 	 Authorization and Non-Contravention
	  	 	48	  
			
	 5.4.
	 	 Financial Statements
	  	 	49	  
			
	 5.5.
	 	 Absence of Certain Developments
	  	 	49	  
			
	 5.6.
	 	 Affiliate Transactions
	  	 	50	  
			
	 5.7.
	 	 Properties
	  	 	50	  
			
	 5.8.
	 	 Condition of Assets
	  	 	50	  
			
	 5.9.
	 	 Certain Contracts
	  	 	50	  
			
	 5.10.
	 	 Intellectual Property
	  	 	51	  
			
	 5.11.
	 	 Litigation
	  	 	51	  
			
	 5.12.
	 	 Labor Matters
	  	 	51	  
			
	 5.13.
	 	 Employee Benefit Programs
	  	 	52	  
			
	 5.14.
	 	 Permits; Compliance with Laws
	  	 	52	  
			
	 5.15.
	 	 Environmental Matters
	  	 	53	  
			
	 5.16.
	 	 Tax Matters
	  	 	54	  

							
	 5.17.
	 	 Investment Banking; Brokerage
	  	 	55	  
			
	 5.18.
	 	 Insurance
	  	 	55	  
			
	 5.19.
	 	 Financing
	  	 	55	  
			
	 5.20.
	 	 No Anticipated Capital Contributions
	  	 	56	  
			
	 SECTION 6.
	 	 COVENANTS
	  	 	56	  
			
	 6.1.
	 	 Interim Operations of the Business
	  	 	56	  
			
	 6.2.
	 	 Interim Operations of Keane Parent
	  	 	59	  
			
	 6.3.
	 	 Access; Confidentiality
	  	 	59	  
			
	 6.4.
	 	 S-X Compliance
	  	 	59	  
			
	 6.5.
	 	 Interim Business Financial Statements
	  	 	60	  
			
	 6.6.
	 	 Interim Financial Statements
	  	 	60	  
			
	 6.7.
	 	 Trican Parent Regulatory Filings
	  	 	61	  
			
	 6.8.
	 	 Regulatory and Other Authorizations; Notices and Consents
	  	 	61	  
			
	 6.9.
	 	 Third Party Consents
	  	 	62	  
			
	 6.10.
	 	 Efforts and Actions
	  	 	62	  
			
	 6.11.
	 	 Exclusivity
	  	 	63	  
			
	 6.12.
	 	 Notice of Certain Events
	  	 	64	  
			
	 6.13.
	 	 Publicity
	  	 	64	  
			
	 6.14.
	 	 Employee Matters
	  	 	64	  
			
	 6.15.
	 	 Financing Cooperation
	  	 	66	  
			
	 6.16.
	 	 Litigation Defense; Disclosed Obligations
	  	 	68	  
			
	 6.17.
	 	 Insurance Cooperation
	  	 	68	  
			
	 6.18.
	 	 Updated Schedules
	  	 	68	  
			
	 6.19.
	 	 Delayed Transfer Assets
	  	 	69	  
			
	 6.20.
	 	 Waste
	  	 	70	  
			
	 6.21.
	 	 Tax Matters
	  	 	70	  
			
	 6.22.
	 	 Misdirected Customer Payments
	  	 	70	  
			
	 6.23.
	 	 Power of Attorney
	  	 	71	  
			
	 6.24.
	 	 Alternate Financing
	  	 	71	  
			
	 6.25.
	 	 Commencement of Litigation
	  	 	71	  
			
	 6.26.
	 	 Transitional Trademark License
	  	 	72	  
			
	 6.27.
	 	 Reimbursement of Certain Expenses
	  	 	72	  

							
	 SECTION 7.
	 	 CLOSING CONDITIONS AND DELIVERIES
	  	 	73	  
			
	 7.1.
	 	 Conditions to Trican Parent’s and Keane Parent’s Obligation to Effect the
Closing
	  	 	73	  
			
	 7.2.
	 	 Conditions to Obligations of Keane Parent and Buyer to Effect the Closing
	  	 	73	  
			
	 7.3.
	 	 Conditions to Obligations of Trican Parent and the Seller Companies
	  	 	75	  
			
	 7.4.
	 	 Frustration of Closing Conditions
	  	 	75	  
			
	 SECTION 8.
	 	 TERMINATION
	  	 	75	  
			
	 8.1.
	 	 Termination
	  	 	75	  
			
	 8.2.
	 	 Effect of Termination
	  	 	77	  
			
	 8.3.
	 	 Expense Reimbursement/ Losses of Keane Parent
	  	 	77	  
			
	 8.4.
	 	 Termination Fee
	  	 	77	  
			
	 SECTION 9.
	 	 SURVIVAL OF REPRESENTATIONS, WARRANTIES AND COVENANTS; TRANSACTION RELATED
INDEMNIFICATION
	  	 	79	  
			
	 9.1.
	 	 Survival of Representations, Warranties and Covenants
	  	 	79	  
			
	 9.2.
	 	 Indemnification by Trican Parent
	  	 	80	  
			
	 9.3.
	 	 Indemnification by Keane Parent
	  	 	81	  
			
	 9.4.
	 	 Limitations on Indemnification
	  	 	82	  
			
	 9.5.
	 	 R&W Insurance Policies
	  	 	82	  
			
	 9.6.
	 	 Procedure
	  	 	82	  
			
	 9.7.
	 	 Treatment of Indemnification Payments
	  	 	84	  
			
	 9.8.
	 	 Exclusive Remedy
	  	 	84	  
			
	 9.9.
	 	 Insurance Offset
	  	 	84	  
			
	 9.10.
	 	 Investigation
	  	 	85	  
			
	 9.11.
	 	 Limitation on Damages
	  	 	85	  
			
	 SECTION 10.
	 	 GENERAL
	  	 	85	  
			
	 10.1.
	 	 Disclaimer
	  	 	85	  
			
	 10.2.
	 	 Waivers and Consents; Amendments
	  	 	86	  
			
	 10.3.
	 	 Governing Law
	  	 	87	  
			
	 10.4.
	 	 Section Headings; Construction; Interpretation
	  	 	87	  
			
	 10.5.
	 	 Counterparts
	  	 	88	  
			
	 10.6.
	 	 Notices and Demands
	  	 	88	  
			
	 10.7.
	 	 Consent to Jurisdiction; Waiver of Jury Trial
	  	 	89	  
			
	 10.8.
	 	 Remedies; Severability
	  	 	90	  

							
	 10.9.
	 	 Integration
	  	 	90	  
			
	 10.10.
	 	 Assignability; Binding Agreement
	  	 	90	  
			
	 10.11.
	 	 Expenses
	  	 	90	  
			
	 10.12.
	 	 Specific Performance
	  	 	90	  
			
	 10.13.
	 	 Third Party Beneficiaries
	  	 	91	  
			
	 10.14.
	 	 Personal Liability
	  	 	91	  

 List of Exhibits 

Exhibit A – Form of Bill of Sale and Assignment and Assumption Agreement 

Exhibit B – Form of Intellectual Property License Agreement between Trican Parent and Buyer 

Exhibit C – Form of Intellectual Property License Agreement among Trican Parent, Trican U.S. and Buyer 

Exhibit D – Form of Intellectual Property Transfer Agreement 

Exhibit E – Form of Transition Services Agreement 

Exhibit F – Form of Third Amended and Restated Keane Parent LLC Agreement 

Exhibit G – Form of Services Agreement 

List of Annexes 
 Annex
I – Seller Companies 
 Annex II – Excluded Businesses 

Annex III – Permitted Encumbrances 

Annex IV – Net Working Capital Calculation 

Annex V–a – Disclosed Claims (Buyer Controlled) 

Annex V–b – Disclosed Claims (Seller Controlled) 

Annex VI – Equipment Preservation Program 

Annex VII – Trican U.S. Reorganization 

Annex VIII – Form of Stay Bonus Agreement 

 ASSET PURCHASE AGREEMENT 

THIS ASSET PURCHASE AGREEMENT (this “Agreement”) is made and entered into as of January 25, 2016 by and among
Keane Group Holdings, LLC, a Delaware limited liability company (“Keane Parent”), Keane Frac, LP (“Buyer” and together with Keane Parent, the “Buyer Companies”), Trican Well
Service Ltd., an Alberta corporation (“Trican Parent”) and Trican Well Service, L.P., a Delaware limited partnership (“Trican U.S.” and collectively with any other Subsidiary of Trican Parent that has
any right, title and interest in the Purchased Assets, including those Subsidiaries set forth on Annex I hereto, the “Seller Companies”). Keane Parent, Buyer, Trican Parent and each of the Seller Companies are
each referred to individually as a “Party” and collectively as the “Parties.” Capitalized terms used, but not otherwise defined herein have the meanings set forth in Section 1.1
below. 
 RECITALS 

WHEREAS, Seller Companies are engaged in, among other things, the Business; 

WHEREAS, Seller Companies wish to sell or cause to be sold to Buyer, and Buyer wishes to purchase from Seller Companies, all right,
title and interest in and to the Purchased Assets described herein, and in connection therewith Buyer is willing to assume the Assumed Liabilities described herein, all upon the terms and subject to the conditions set forth herein (the
“Transaction”); 
 WHEREAS, Seller Companies and their Affiliates also conduct the Excluded Businesses both
within and outside the Territory, which businesses and operations are being retained by Seller Companies and their Affiliates and which, along with the other Excluded Liabilities described herein will not be acquired or assumed by the Buyer in the
Transaction; and 
 WHEREAS, concurrently with the execution and delivery of this Agreement, Cerberus Institutional Partners V, L.P.
(the “Sponsor”) has executed and delivered to the Seller Companies (a) an equity commitment letter (including all annexes, exhibits, schedules and other attachments thereto), dated as of the date hereof, by and between
Sponsor and Keane Parent (the “Equity Financing Commitment”) and (b) a limited guarantee, dated as of the date hereof, by and between Sponsor and Trican Parent (the “Limited Guarantee”). 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements hereinafter set forth and other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereto agree as follows: 
 SECTION 1.
DEFINITIONS 
 1.1. Definitions. For purposes of this Agreement, the following terms shall have the meanings set
forth below. 
 “Accounting Firm” shall mean KPMG LLP or, if such firm is unable or unwilling to serve in such
capacity, then such jointly selected independent nationally (within the United States) recognized firm mutually agreeable to Trican Parent and Buyer. 

  
 2 

 “Accrued Employee Obligations” shall mean, with respect to any Business
Employee, any payments or entitlements that a Seller Company owes to any current or former Business Employee, including wages, other remuneration, holiday, vacation pay or other paid time-off, bonus, or commissions. 

“Action” shall mean any action, complaint, petition, investigation, suit, claim, demand, inquiry, audit, mediation or
other proceeding, whether civil, criminal or administrative, in law or in equity, or before any arbitrator or Governmental Authority. 

“Affiliate” of a Person shall mean (i) with respect to an individual, any member of such Person’s family
(including, without limitation, any child, step child, parent, step parent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law); (ii) with respect to an entity, any officer, director,
shareholder (except in the case of Trican Parent), partner of or investor in (except in the case of Trican Parent) such entity or of or in any other affiliate of such entity; and (iii) with respect to any Person, any Person which directly or
indirectly controls, is controlled by, or is under common control with such Person. 
 “Applicable Accounting
Principles” shall mean with respect to Trican Parent or the Seller Companies, IFRS and with respect to the Buyer Companies, GAAP. 

“Basket” shall mean $7,500,000, in the aggregate. 

“Bill of Sale and Assignment and Assumption Agreement” shall mean the bills of sale and assignment and assumption
agreement, with respect to certain assets and liabilities of the Seller Companies and Trican Parent, in substantially the form attached hereto as Exhibit A. 

“Books, Records and Files” shall mean any studies, reports, records (including shipping and personnel records), books
of account, invoices, surveys, data (including financial, sales, purchasing, operating data and production data, including any customer and supplier data related thereto), billing records, available credit records, sales and promotional literature,
manuals, training materials, computer data, disks tapes, recordings, graphs, drawings, analyses and other writings, marketing plans, customer lists, supplier lists, environmental, health or safety related audits and reports, correspondence and other
documents, and other tangible embodiments of any of the foregoing, in any form whether or not specifically listed herein. 

“Bring-down Solvency Opinion” shall mean an updated “solvency” opinion of Duff & Phelps Corp.,
dated as of the Closing Date, in a form and substance reasonably satisfactory to Keane Parent (provided that such opinion will be deemed to be acceptable to Keane Parent if it is in the same form and substance as the Solvency Opinion in all material
respects) and addressed to Trican Parent, dated as of the Closing Date together with a reliance letter in customary form addressed to Keane Parent. 

“Business” shall mean the oil field services businesses of the Seller Companies as conducted in the Territory on the
date hereof, other than the Excluded Businesses. 
 “Business Day” shall mean any day that is not a Saturday,
Sunday, legal holiday or other day on which commercial banks in New York, New York or Calgary, Alberta are authorized or required by Law to close. 

  
 3 

 “Business Intellectual Property Rights” shall mean all Intellectual
Property Rights owned, used or held for use (including under license from a third party) by any of the Seller Companies, which is used or held for use in the Business (including under license from a third party), including the Purchased Business
Intellectual Property. 
 “Business Employee” shall mean any employee of the Seller Companies as of the date hereof,
including any such employee who is inactive because of any recognized leave of absence, vacation, holiday or short- or long-term disability. 

“Buyer Employee” shall mean any employee of the Buyer Companies as of the date hereof, including in all cases any such
employee who is inactive because of any recognized leave of absence, vacation, holiday or short- or long-term disability. 

“Buyer Leased Real Property” shall mean all of the Real Property that is leased, subleased, licensed, used or occupied
by any of the Buyer Companies, but for certainty excludes the Buyer Owned Real Property. 
 “Buyer Material Adverse
Effect” shall mean any circumstance, development, change, event, occurrence, state of affairs, or effect that individually or in the aggregate with any other circumstance, development, change, event, occurrence, state of affairs,
or effect (a) has had or would reasonably be expected to have a material adverse effect on the business condition of the Buyer Companies (financial or otherwise) or (b) would have a material adverse effect on the consummation of the
transactions contemplated hereby by the Buyer Companies; provided, however, that, solely for the purposes of clause (a) in determining the Seller Companies’ or Trican Parent’s rights pursuant to
Section 8.1, none of the following shall be deemed (either alone or in combination) to constitute, and none of the following shall be taken into account in determining whether there has been, a Buyer Material Adverse Effect:
(i) changes in conditions in the United States or global economy, commodity prices or capital or financial markets generally, (ii) acts of war or terrorism, or any escalation or worsening of any such acts of war or terrorism threatened or
underway as of the date of this Agreement, (iii) changes in general legal, regulatory or political conditions or changes in the Applicable Accounting Principles that, in each case, generally affect industries in which the business of the Buyer
Companies is conducted, or (iv) changes in the hydraulic fracturing or oil field services industry that, in each case, generally affect companies in such industry; provided, that the incremental extent of any disproportionate change,
event, occurrence, development, effect, condition, circumstance or matter described in clauses (i), (ii), (iii) or (iv) with respect to the business of the Buyer Companies, taken as a whole, relative to other similarly situated businesses
in the hydraulic fracturing or oil field services industry may be considered and taken into account in determining whether there has been a Buyer Material Adverse Effect. 

“Buyer Owned Real Property” shall mean all Real Property that is owned by any of the Buyer Companies. 

“Class C Profits Interests” shall have the meaning assigned to it in the Third Amended and Restated Keane Parent LLC
Agreement. 

  
 4 

 “COBRA” shall mean the Consolidated Omnibus Budget Reconciliation Act of
1985, as amended, and similar state laws. 
 “COBRA Aggregate Premium Amount” shall mean an amount equal to the
aggregate amount of applicable premiums paid in respect of each Excluded Employee and each Excluded Employee’s M&A Qualified Beneficiaries who elects and pays for COBRA continuation coverage under the group health plans of the Seller
Companies; provided that, for this purpose, the applicable premium paid by each such Person shall be deemed to be the maximum premium permitted under 26 CFR 54.4980B-8 (regardless of whether any of the Seller Companies pay or subsidize any cost of
such COBRA continuation coverage). 
 “Code” shall mean the Internal Revenue Code of 1986, as amended. 

“Competition Law” shall mean any Law that prohibits, restricts or regulates actions having the purpose or effect of
monopolization or restraint of trade or lessening of competition through merger or acquisition. 
 “Consent” shall
mean any consent, approval, authorization, waiver, permit, grant, agreement, certificate, exemption, order, registration, declaration, filing, notice of, with or to any Person or under any Law, in each case required to permit the consummation of the
transactions contemplated by this Agreement. 
 “Contract” shall mean any written binding agreement, arrangement,
purchase order, statement of work, bond, commitment, franchise, indemnity, indenture, instrument, lease or license. 

“Control” (including, without limitation, the terms “controlled by” and “under common control
with”) shall mean the possession, directly or indirectly, or as trustee or executor, of the power to direct or cause the direction of the management policies of a Person, whether through the ownership of stock, as trustee or executor, by
Contract or credit arrangement or otherwise. 
 “Current Assets” shall mean all Purchased Assets that would be
reflected as current assets on a consolidated balance sheet of Seller Companies determined in accordance with the Applicable Accounting Principles, excluding the Seneca Resources Corporation credit and prepaid premiums with respect to the Business
Insurance Policies, applied on a basis consistent with the preparation of the Net Working Capital Calculation. For the avoidance of doubt, Current Assets shall exclude cash and cash equivalents. 

“Current Liabilities” shall mean all Assumed Liabilities that would be reflected as current liabilities on a
consolidated balance sheet of Seller Companies determined in accordance with the Applicable Accounting Principles, including Owned Business Real Property Tax accruals and any Liability incurred with respect to the customer credits granted to SWEPI
LP (Shell), but excluding current Liabilities with respect to the Scheduled Capital Leases, Accrued Employee Obligations and the Disclosed Claims, applied on a basis consistent with the preparation of the Net Working Capital Calculation. 

  
 5 

 “Data” shall mean all information and data, whether in printed or
electronic form and whether contained in a database or otherwise, of any member of the Seller Companies used or held for use in the Business. 

“Disclosed Claim” shall mean any matter set forth on Annex V-a – Disclosed Claims (Buyer
Controlled) or Annex V-b – Disclosed Claims (Seller Controlled). 
 “Disclosed Obligations” shall
mean any amounts incurred or owed in connection with the defense, negotiation, judgment or settlement of any Disclosed Claim (including, without limitation, legal expenses incurred by Keane Parent, Buyer, Trican Parent, any of the Seller Companies,
or any Affiliates of the foregoing in connection therewith, and including, without limitation, any penalty credits granted to any customer of the Business in connection therewith). 

“Disclosed Obligations Cap” shall mean $6,500,000, in the aggregate. 

“EH&S Event” shall mean any event related to or arising out of an environmental, safety or health matter,
including but not limited to, transportation accidents, worker or third party injuries (including, without limitation, sickness, disease or death), well blowouts, damage to property or the environment (including, without limitation, natural
resources), Releases or threatened Releases of Hazardous Materials, and actual or alleged violations of Environmental Laws. 

“Employee Benefit Plan” shall mean any “employee benefit plan” within the meaning of Section 3(3) of
ERISA, whether or not subject to ERISA, and any bonus, deferred compensation, excess benefit, incentive compensation, equity ownership, equity purchase, equity option, phantom equity, equity-based, vacation, paid time off, severance, incentive,
commission, retention, change in control, fringe benefit, profit sharing, pension, retirement, welfare, medical, dental, life, disability, death benefit, hospitalization or insurance plan, or other plan, agreement, Contract, policy, program or
arrangement whether written or unwritten, qualified or non-qualified, funded or unfunded. 
 “Encumbrances” shall
mean any and all liens, adverse claims, options, charges, pledges, security interests, deeds of trust, statutory deemed trusts, encumbrances, rights of first refusal, rights of first offer, rights or restrictions of any kind or nature. 

“Environmental Claim” shall mean any Action, notice of violation, action, claim, lien, demand, abatement or other
Order or directive (conditional or otherwise) by any Governmental Authority or any other Person (including, without limitation, any customer, employee or former employee of any contractor or subcontractor of the Seller Companies) for personal injury
(including, without limitation, sickness, disease or death), tangible or intangible property damage, damage to the environment (including, without limitation, natural resources), nuisance, pollution, contamination, trespass or other adverse effects
on the environment, or for fines, penalties or restrictions resulting from or based upon (i) the existence, or the continuation of the existence, of a threatened Release or Release (including, without limitation, sudden or non-sudden accidental
or non-accidental Releases) of or exposure to, any Hazardous Material, odor or audible noise; (ii) the transportation, storage, manufacture, use, distribution, treatment or disposal of Hazardous Materials; (iii) the violation, or alleged
violation, of any Environmental Laws or Environmental Permits; or (iv) any contractual or other obligation to any other Person for or in connection with liability under Environmental Law. 

  
 6 

 “Environmental Law” shall mean any applicable civil or criminal federal,
state, local or foreign law (including, without limitation, common law), statute, code, ordinance, rule, regulation, licenses, Environmental Permit or other requirement relating to the environment, natural resources, or occupational health and
workplace safety as applicable and in effect at the Effective Time and includes, but is not limited to; the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. § 9601, et seq., the Hazardous Materials Transportation
Act, 49 U.S.C. § 1801, et seq., the Resource Conservation and Recovery Act, 42 U.S.C. § 6901, et seq., the Clean Water Act, 33 U.S.C. § 1251 et seq., the Clean Air Act, 33 U.S.C. § 2601, et seq., the Toxic Substances Control Act,
15 U.S.C. § 2601, et seq., the Insecticide, Fungicide, and Rodenticide Act, 7 U.S.C. § 136, et seq., the Oil Pollution Act of 1990, 33 U.S.C. § 2701, et seq., the Federal Safe Drinking Water Act, 42 U.S.C. § 300F, et seq., and
the Occupational Safety and Health Act, 29 U.S.C. §651, et seq., as such laws have been amended or supplemented, and the regulations promulgated pursuant thereto, and all analogous state or local statutes. 

“Environmental Liabilities” shall mean any and all losses, Liabilities, obligations, damages, fines, penalties,
judgments, actions, Claims, costs and expenses (including, without limitation, fees, disbursements and expenses of legal counsel, experts, engineers and consultants and the costs of investigation and feasibility studies, Remedial Actions and cleanup
activities) arising from or under any Environmental Law or Environmental Permit or Environmental Claim or any Order or Contract now in effect with any Governmental Authority or other Person relating to environmental matters. 

“Environmental Permit” shall mean any Business Permit required under any applicable Environmental Law. 

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 

“ERISA Affiliate” shall mean any entity that would be deemed a “single employer” with an applicable entity
under Section 414(b), (c), (m) or (o) of the Code, or Section 4001 of ERISA. 
 “Excluded
Businesses” shall mean (a) the Seller Companies’ U.S. completion tool installation and supply business, its Geological Services business, and its “Industrial Business,” each as described in greater detail on
Annex II hereto; (b) the activities of the Seller Companies’ (including with respect to the Business) corporate department, administrative departments and other support functions; (c) the Excluded Field of Use; and
(d) subject to the Transition Services Agreement and the Intellectual Property Agreements, which, will govern the providing of certain and Intellectual Property Rights relating thereto, all support functions for the Seller Companies provided by
Trican Parent. 
 “Excluded Employee Liabilities” shall mean, other than to the extent included within the Disclosed
Claims, Termination Obligations that are not in excess of the Termination Cap and any Stay Bonus Obligations, (i) any Accrued Employee Obligations and any other payments or 

  
 7 

 
entitlements that a Seller Company owes to any current or former Business Employee, including severance pay (statutory or otherwise), commissions, post-employment medical or life obligations,
pension contributions, insurance premiums or Taxes; (ii) subject to the final sentence of this definition, any Liabilities of any Seller Company with respect to, or payments or entitlements to, any Business Employee arising after the Closing in
respect of any stay bonus, change of control payment, retention payment, transaction bonus or similar payment arising as a result of the Transaction, including without limitation, any Stay Bonuses and other Liabilities under the Stay Bonus
Agreements in excess of the Stay Bonus Obligations; (iii) any Liability, payment or obligations related to Business Employees, including under, or with respect to, actions under any labor, employment or similar Laws, including any such
Liabilities arising under a Seller Benefit Plan, in each case that are incurred or accrued, or that arise prior to the Closing; (iv) any Liability or expense of a Seller Company which arises under or relates to any Seller Benefit Plan,
including Liability to any Employee Benefit Plan that is subject to any Law that imposes Liability on a so-called “controlled group” basis, with or without reference to any provision of Section 4001 of ERISA, including by reason of
Buyer being deemed successor to a Seller Company under ERISA; and (v) any Liabilities, payments, costs and disbursements incurred in connection with the termination of employment of any Business Employee, regardless of whether or not such
Business Employee becomes a Transferred Employee, arising under any Seller Benefit Plan or other severance policy or agreement or under any applicable Law or otherwise; and (vi) any other Liabilities to the extent reserved for on the Financial
Statements for any workers’ compensation claims, except to the extent included in the calculation of Final Net Working Capital (which Liabilities for certainty are Assumed Liabilities). For the avoidance of doubt, Excluded Employee Liabilities
shall not include any severance obligations triggered by the termination of a Transferred Employee post-Closing, which shall be the obligation of Buyer. 

“Excluded Fields of Use” means (a) the use and sale of the MVP Frac Product to treat proppant (including sand)
for dust control except in pressure pumping services in which Buyer or any of its Affiliates is providing the pressure pumping services directly to any of their customers; and (b) the sale of the MVP Frac Product and the TriVert Product except
in pressure pumping services in which Buyer or any of its Affiliates is providing the pressure pumping services directly to any of their customers. 

“Financing Sources” means the Persons that have committed to provide, subject to the terms and conditions set forth in
the Debt Financing Commitment, or have otherwise entered into Contracts in connection with, the Debt Financing Commitment or alternative debt financings in compliance with Section 5.19 in connection with the transactions
contemplated hereby, together with their respective Affiliates and Representatives involved in the Debt Financing and their respective successors and assigns. 

“Fundamental Representations” shall mean (a) the representations and warranties of the Seller Companies contained
in Sections 4.1 (Organization; Corporate Power), 4.2 (Authorization and Non-Contravention), 4.3 (Solvency) and 4.4(a) (Title to and
Sufficiency and Condition of Assets) and (b) the representations and warranties of the Buyer Companies contained in Sections 5.1 (Organization and Company Power), 5.2
(Capitalization and Valid Issuance) and 5.3 (Authorization and Non-Contravention). 

  
 8 

 “GAAP” shall mean U.S. generally accepted accounting principles applied
on a consistent basis. 
 “Governmental Authority” shall mean any government or any agency, bureau, board,
commission, court, department, official, political subdivision, tribunal or other instrumentality of any government, whether federal, state or local, domestic or foreign. 

“Hazardous Material” shall mean any substance, material, physical agent, or waste which is defined, listed or
regulated by any Governmental Authority, including, without limitation, any material, substance or waste which is defined as a “hazardous waste,” “hazardous material,” “hazardous substance,” “extremely hazardous
substance,” “restricted hazardous waste,” “contaminant,” “toxic waste” or “toxic substance” or words of similar import under any provision of Environmental Law, and includes, without limitation,
petroleum, petroleum products (including, without limitation, crude oil and any fraction thereof), asbestos, asbestos-containing materials, lead, radon, ionizing and non-iodizing radioactive materials and substances, mold, urea formaldehyde and
polychlorinated biphenyls. 
 “HSR Act” shall mean the Hart-Scott Rodino Antitrust improvements Act of 1976, as
amended, and the rules and regulations thereunder. 
 “HSR Act Notification” shall mean the Notification and Report
Form filed with the Federal Trade Commission and the Antitrust Division of the Department of Justice pursuant to the HSR Act. 

“IFRS” shall mean International Financial Reporting Standards applied on a consistent basis. 

“Implied Default Valuation” shall mean the equity valuation of Keane Parent equal to $468,000,000. 

“Indebtedness” shall mean, without duplication, (a) all obligations of any of the Seller Companies or Buyer
Companies, as applicable, for borrowed money or with respect to deposits or advances of any kind, (b) all obligations of any of the Seller Companies or Buyer Companies, as applicable, evidenced by bonds, debentures, notes or similar
instruments, (c) all obligations of any of the Seller Companies or Buyer Companies, as applicable, upon which interest charges are customarily paid (excluding current accounts payable in the ordinary course of business consistent with past
practices), (d) all obligations of any of the Seller Companies or Buyer Companies, as applicable, under conditional sale or other title retention agreements relating to property acquired by Seller Companies, (e) all obligations of any of
the Seller Companies or Buyer Companies, as applicable, in respect of the deferred purchase price of property or services (excluding current accounts payable in the ordinary course of business consistent with past practices not more than 60 days
past due), (f) all other indebtedness of the types described herein of other Persons secured by (or for which the holder of such indebtedness has an existing right, contingent or otherwise, to be secured by) any Encumbrance on property owned or
acquired by any of the Seller Companies or Buyer Companies, as applicable, whether or not such indebtedness secured thereby has been assumed, (g) all guarantees by any of the Seller Companies or Buyer Companies, as applicable, of the
indebtedness of any other Person, (h) all 

  
 9 

 
capital lease obligations (or lease obligations that may be capitalized pursuant to the Applicable Accounting Principles) of any of the Seller Companies or Buyer Companies, as applicable,
(i) all obligations, contingent or otherwise, of any of the Seller Companies or Buyer Companies, as applicable, as an account party in respect of letters of credit and letters of guaranty, (j) all obligations, contingent or otherwise, of
any of the Seller Companies or Buyer Companies, as applicable, in respect of bankers’ acceptances, (k) all credits granted by any Seller Company or Buyer Company to any customer for future work to be performed and (l) the aggregate
amount of all outstanding checks. The term “Indebtedness” shall include the indebtedness of any other entity to the extent any of the Seller Companies or Buyer Companies, as applicable, is liable therefor as a result of its
ownership in, or other relationship with, such other entity, except to the extent the terms of such indebtedness provide that any of such Seller Companies or Buyer Companies, as applicable, is not liable therefor. 

“Indemnified Party” shall mean any Person asserting a claim for indemnification under any provision of
Section 9. 
 “Indemnifying Party” shall mean any Person against whom a claim for indemnification
is being asserted under any provision of Section 9. 
 “Initial Cash Purchase
Price” shall mean $200,000,000. 
 “Intellectual Property Rights” shall mean all
intellectual property rights, whether protected, created or arising under the laws of the United States or any other jurisdiction or under any international convention, including all (i) patents and patent applications, including all
continuations, divisionals, continuations-in-part, and provisionals and patents issuing on any of the foregoing, and all reissues, reexaminations, substitutions, renewals, extensions and related priority rights of any of the foregoing (collectively,
the “Patents”), (ii) trademarks, service marks, trade names, trade dress, logos, corporate names and other source or business identifiers, together with the goodwill associated with any of the foregoing, and all
applications, registrations, renewals and extensions of any of the foregoing (collectively, the “Trademarks”), (iii) Internet domain names, (iv) copyrights, works of authorship (including, without limitation, such
rights in software) and moral rights, and all registrations, applications, renewals, extensions and reversions of any of the foregoing, (v) mask works and mask sets, and all applications and registrations of any of the foregoing, and
(vi) confidential and proprietary information, trade secrets, technology, know-how, databases, inventions (whether patentable or unpatentable and whether or not reduced to practice), formulas, processes, developments and research, designs,
circuit block libraries, algorithms, procedures, methods, techniques, technical data, programs, subroutines, specifications, apparatus, creations, improvements and other similar materials. 

“Intellectual Property Agreements” shall mean, collectively, the Intellectual Property License Agreements and the
Intellectual Property Transfer Agreement. 
 “Intellectual Property License Agreements” shall mean (a) the
Intellectual Property License Agreement, entered into between Trican Parent and Buyer to, among other things, grant certain licenses to Buyer to use the Seller Business Intellectual Property, in the form attached hereto as Exhibit B
and (b) the Intellectual Property License Agreement, entered into among Trican Parent, Trican U.S. and Buyer to, among other things, grant certain licenses to Buyer to use the Seller Business Intellectual Property, in the form attached
hereto as Exhibit C. 

  
 10 

 “Intellectual Property Transfer Agreement” shall mean the Intellectual
Property Transfer Agreement, entered into between Trican Parent and Buyer to, among other things, transfer the Purchased Business Intellectual Property to Buyer, in the form attached hereto as Exhibit D. 

“IT Systems” shall mean the computer hardware, data processing systems, computer software, Internet websites and
related content, networks and other peripherals used or held for use in the Business or, as applicable, the business of the Buyer Companies. 

“Keane Common Equity Units” shall mean the Class A Units representing 10% of the total number of the then issued
and outstanding common equity units of Keane Parent on a fully diluted basis before taking into account the Class C Profits Interests and the Management Incentive Plan. 

“Law” shall mean any federal, state, local, municipal or other statute or law (including, without limitation, common
law), ordinance, rule, standard, policy, code or regulation and any decree, injunction, judgment, order, ruling, assessments or writ of any applicable Governmental Authority. 

“Leased Business Real Property” shall mean all of the Real Property that (a) is used in the Business and
(b) is leased, subleased, licensed or occupied by any of the Seller Companies or any of their Affiliates and in each case, that is set forth on Section 4.11 of the Seller Disclosure Schedule, and for certainty excludes Owned Business Real
Property. 
 “Lender Consents” shall mean those Consents consenting to the Transaction and including releases
of any claims against the Purchased Assets and the Buyer Companies and their Affiliates or any of their respective assets after giving effect to the Transaction relating to any and all Indebtedness of Trican Parent or any of its Affiliates affecting
the Business. 
 “Liability” or “Liabilities” shall mean any and all debts, liabilities and
obligations, whether accrued or fixed, absolute or contingent, matured or unmatured, determined or determinable, known or unknown, express or implied, primary or secondary, including those arising under any Law, Action or Order and those arising
under any Contract (but excluding any future performance obligations under any such Contracts). 
 “Lien” shall mean
any lien (including, without limitation, environmental and tax liens), charge, mortgage, pledge, hypothecation, security interest, right-of-way (solely with respect to real property), option, right of first refusal, right of first offer or
encumbrance of any kind. 
 “M&A Qualified Beneficiaries” shall have such meaning as provided under Treasury
Regulation 54.4980B-9. 
 “Management Incentive Plan” shall mean an incentive plan of up to 15% of the outstanding
equity interests of Keane Parent that will dilute each of the members of Keane Parent (including Trican U.S.) on a pro rata basis. 

  
 11 

 “Net Working Capital” shall mean, as of any date of determination,
Current Assets minus Current Liabilities calculated in accordance with GAAP. 
 MVP Frac Product” means product
marketed as MVP Frac and all variants thereof in oilfield services as of the Closing Date. 
 “Net Working Capital
Calculation” shall mean a sample calculation of Net Working Capital set forth on Annex IV hereto. 

“Non-Income Taxes” shall mean Taxes that are not Taxes based on or measured by net income or net receipts, however
denominated. 
 “Order” shall mean any decree, injunction, judgment, order, ruling, assessment or writ of any
Governmental Authority and any award in any arbitration proceeding. 
 “Outside Date” shall mean
March 15, 2016; provided; however, if any Leased Business Real Property Consents scheduled on Section 3.4(d) of the Seller Disclosure Schedule have not been obtained as of March 15, 2016 and each of the other conditions
to the obligations of the Parties set forth in Section 7 have been satisfied or waived (other than those conditions that by their nature are to be satisfied at the Closing), then at the option of Keane Parent (in its sole
discretion) the Outside Date may be extended to March 30, 2016. 
 “Owned Business Real Property” shall mean
all Real Property that (a) is used primarily in the Business and (b) is owned by any of the Seller Companies or any of their Affiliates. 

“Permitted Encumbrances” shall mean, with respect to any Person, (i) liens for Taxes not yet due and payable;
(ii) statutory or common Law liens to secure landlords, lessors or renters under leases or rental Contracts set forth in Section 4.11 of the Seller Disclosure Schedule, with respect to the Seller Companies and the Buyer Leased Real
Property, with respect to the Buyer Companies regarding the premises rented to the extent that no payment or performance under any such lease or rental Contract is in arrears or is otherwise due; (iii) encumbrances in the nature of zoning
restrictions, easements, rights or restrictions, in each case, to the extent of record, on the uses of Real Property if the same do not, individually or in the aggregate, adversely affect in any material respect, the property encumbered thereby or,
individually or in the aggregate, adversely affect in any material respect, the present ownership, use, operation or enjoyment of such property in the business of such Person as currently conducted; (iv) deposits or pledges made in connection
with, or to secure payment for, workers’ compensation, unemployment insurance, or programs mandated under applicable Laws set forth on Annex III (Permitted Encumbrances) hereto; (v) statutory or common Law liens in favor of
carriers, warehousemen, mechanics and materialmen to secure claims for labor, materials or supplies and other like liens, which secure obligations to the extent that payment thereof is not material, in arrears or otherwise due; (vi) the terms
and conditions of the Purchased Contracts granting a lien or other encumbrance over Purchased Assets, but only in respect of amounts secured by such liens or encumbrances that are not in arrears or otherwise due and payable; and (vii) any other
Encumbrances set forth on Annex III (Permitted Encumbrances) hereof. 

  
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 “Person” shall mean an individual, a corporation, a joint venture, a
trust, an unincorporated organization, a limited liability company or partnership or other entity or a Governmental Authority. 

“Pre-Closing Tax Period” shall mean any Tax period (or portion thereof) ending on or before the Closing Date. 

“Pre-Closing Taxes” shall mean all liability for Taxes imposed on or with respect to the Seller Companies, the
Business or the Purchased Assets for any Pre-Closing Tax Period. In the case of Taxes imposed with respect to any Straddle Period, such Taxes shall be allocated to the Pre-Closing Tax Period (i) in the case of Taxes imposed on specific events,
such as sales and use Taxes, based on whether such event occurred in the Pre-Closing Tax Period; and (ii) in the case of Taxes imposed on a periodic basis, such as real and personal property Taxes, based on the number of calendar days in the
portion of such Straddle Period that ends on and includes the Closing Date relative to the total number of calendar days in such Straddle Period. 

“Purchased Contracts” shall mean all Scheduled Contracts, Leases and each other Contract acquired pursuant to
Section 2.1 and not excluded pursuant to Section 2.2. 
 “R&W Insurance
Policies” shall mean, collectively, the R&W Insurance Policy of Buyer and the R&W Insurance Policy of Trican Parent. 

“R&W Insurance Policy of Buyer” shall mean that certain representations and warranties insurance policy (Policy
No: 64738477), purchased by the Buyer and issued to the Buyer on January 25, 2016 in respect of this Agreement. 
 “R&W
Insurance Policy of Trican Parent” shall mean that certain representations and warranties insurance policy (Policy No: C445306916A), purchased by Trican Parent and issued to Trican Parent on January 25, 2016 in respect of this
Agreement. 
 “Real Property” shall mean all land, buildings and other structures, facilities or improvements
located thereon and all easements, licenses, rights and appurtenances relating to the foregoing. 
 “Reference Net Working
Capital” shall mean $61,198,000. 
 “Registered Business Intellectual Property Rights” shall
mean all issued Patents, pending Patent applications, registered Trademarks, pending applications for registration of Trademarks, registered copyrights, pending applications for registration of copyrights, registered mask works, pending applications
for registration of mask works and Internet domain names owned, filed or applied for by any of the Seller Companies used primarily to conduct, or relate primarily to, the Business. 

“Release” shall mean any release, spill, emission, leaking, pumping, pouring, dumping, emptying, injection, deposit,
disposal, discharge, dispersal, leaching, or migration of Hazardous Materials (including the abandonment or discarding of barrels, containers or other closed receptacles containing Hazardous Materials) on or into the indoor or outdoor environment or
into or out of any property. 

  
 13 

 “Remedial Action” shall mean all actions, including, without limitation,
any required or voluntarily actions taken to (i) clean up remove, treat, or in any other way address any Hazardous Material or other substance; (ii) prevent the Release or threat of Release, or minimize the further Release, of any
Hazardous Material; (iii) perform pre-remedial studies and investigations or post-remedial monitoring and care; or (iv) correct or otherwise address any non-compliance with Environmental Laws or Environmental Permits. 

“Representatives” shall mean, with respect to any Person, any member, shareholder, limited partner, general partner,
officer, director or employee of, or any investment banker, financing source, accountant, consultant, attorney or other advisor, representative or agent of such Person, but for certainty, in the case of Trican Parent, does not include shareholders.

 “Sand Storage Settlement Liability” shall mean any Liability incurred in connection with the settlement of
Sand Storage v. Trican Well Service, L.P. and Trilib Mgmt., LLC, No. 2:13-CV-303 (S.D. Tex. Sept. 30, 2013). 

“Securities Act” shall mean the Securities Act of 1933, as amended. 

“Seller Business Intellectual Property” shall mean any Intellectual Property Rights used in the Business as of the
Closing Date (other than Purchased Business Intellectual Property) that are owned by Trican Parent or any of the Seller Companies. 

“Seller Material Adverse Effect” shall mean any circumstance, development, change, event, occurrence, state of
affairs, or effect that individually or in the aggregate with any other circumstance, development, change, event, occurrence, state of affairs, or effect (a) has had or would reasonably be expected to have a material adverse effect on the
Business or (b) would have a material adverse effect on the consummation of the transactions contemplated hereby; provided, however, that, solely for the purposes of clause (a) in determining Buyer’s rights pursuant to
Section 8.1 and the condition set forth in Section 7.2(a), none of the following shall be deemed (either alone or in combination) to constitute, and none of the following shall be taken into account in
determining whether there has been, a Seller Material Adverse Effect: (i) changes in conditions in the United States or global economy, commodity prices or capital or financial markets generally; (ii) acts of war or terrorism, or any
escalation or worsening of any such acts of war or terrorism threatened or underway as of the date of this Agreement; (iii) changes in general legal, regulatory or political conditions or changes in Applicable Accounting Principles that, in
each case, generally affect industries in which the Business is conducted; or (iv) changes in the hydraulic fracturing or oil field services industry that, in each case, generally affect companies in such industry; provided, that the
incremental extent of any disproportionate change, event, occurrence, development, effect, condition, circumstance or matter described in clauses (i), (ii), (iii) or (iv) with respect to the Business, taken as a whole, relative to other
similarly situated businesses in the hydraulic fracturing or oil field services industry may be considered and taken into account in determining whether there has been a Seller Material Adverse Effect. 

“Services Agreement” shall mean the Services Agreement entered into between Buyer and Trican U.S., in the form
attached hereto as Exhibit G. 

  
 14 

 “Solvency Opinion” shall mean the solvency opinion of Duff &
Phelps Corp. addressed to Trican Parent, dated as of the date hereof, together with a reliance letter addressed to Keane Parent. 

“Solvent” shall mean, when used with respect to any Person, that, as of any date of determination (i) the sum of
such Person’s debts is not greater than the Person’s property and assets, at a fair valuation, (ii) the present fair salable value of the Person’s assets is not less than the amount required to pay its probable liabilities on its
existing debts (including contingent liabilities) as and when such debts become absolute and matured, (iii) such Person does not have an unreasonably small amount of capital with which to conduct any business or transaction in which it is
engaged or is proposed to be engaged, (iv) such Person’s property and assets, at a fair valuation, exceed the sum of its liabilities and stated capital of all classes and (v) such Person does not intend to, and does not believe it
will, incur debts beyond its ability to pay as such debts become due. For purposes of this definition, “not have an unreasonably small amount of capital for the operation of the businesses in which it is engaged or proposed to be engaged”
and “pay its probable liabilities on its existing debts (including contingent liabilities) as and when such debts become absolute and matured” shall mean that such Person will be able to generate enough cash from operations, asset
dispositions or financing, or a combination thereof, to meet its probable obligations as they become due. 
 “Straddle
Period” shall mean any Tax period that includes but does not end on the Closing Date. 
 “Subsidiary”
shall mean, with respect to any Person, any corporation more than 50% of whose outstanding voting securities, or any partnership, limited liability company, joint venture or other entity more than 50% of whose total equity interest, is directly or
indirectly owned by such Person or such Person and one or more other Persons acting in concert. 
 “Tangible Personal
Property” shall mean all office equipment, machinery, equipment, supplies, vehicles, tools, spare parts, production supplies, furniture and fixtures and other items of tangible personal property owned by any of the Seller Companies used
primarily in connection with ownership, maintenance or operation of the Business. 
 “Tax” or
“Taxes” shall mean any federal, provincial, state, local, foreign and other taxes, including without limitation, income taxes, taxes imposed under Section 1374 of the Code, estimated taxes, alternative or add-on
minimum taxes, excise taxes, sales taxes, use taxes, franchise taxes, employment and payroll related taxes, withholding taxes, transfer taxes, gross receipts taxes, license taxes, severance taxes, stamp taxes, occupation taxes, premium taxes,
windfall profits taxes, environmental taxes (including, without limitation, taxes under Section 59A of the Code), customs duties, capital stock taxes, profits taxes, social security (or similar) taxes, unemployment taxes, disability taxes, real
property taxes, personal property taxes, registration taxes, value added taxes, escheat or unclaimed property taxes, or other taxes, charges, fees or assessments of any kind whatsoever and all deficiencies or other additions to tax, interest, fines
and penalties owed by it. 

  
 15 

 “Tax Return” shall mean any return, declaration, report, claim for
refund, or information return or statement relating to Taxes, including, without limitation, any schedule or attachment thereto, and any amendment thereof. 

“Territory” shall mean the United States (including Alaska and Hawaii), including its territorial waters. 

“Total Recordable Incident Rate” shall mean the total recordable incidence rate determined in accordance with the U.S.
Department of Labor, Bureau of Labor Statics calculations for computing incidence rates for work-related injuries and illnesses. 

“Transaction Documents” shall mean this Agreement, the Transition Services Agreement, the Intellectual Property
Agreements, the Third Amended and Restated Keane Parent LLC Agreement and the other documents to be executed and delivered in connection herewith and therewith. 

“Transition Services Agreement” shall mean the Transition Services Agreement entered into among Trican Parent, Trican
U.S. and Buyer, in the form attached hereto as Exhibit E. 
 “Transfer Taxes” means any sales,
purchase, transfer, stamp, documentary stamp, registration, use or similar Taxes (including any interest, fine, penalty or additions to tax imposed by any Governmental Authority in connection with such Taxes). 

“Treasury Regulation” shall mean the regulations promulgated by the United States Department of the Treasury pursuant
to and in respect of provision of the Code. All references herein to sections of the Treasury Regulations shall include any corresponding provision or provisions of succeeding, similar, substitute, temporary or final Treasury Regulations. 

“TriVert Product” means product marketed as TriVert and all variants thereof, as of the Closing Date, in oilfield
services. 
 “Unutilized Equipment” means that the Tangible Personal Property set out in Section 4.4(c) of the
Seller Disclosure Schedule. 
 “U.S. EPA RCRA Matter” shall mean the ongoing U.S. Environmental Protection Agency
(“U.S. EPA”) investigation concerning Resource Conservation and Recovery Act (“RCRA”) violations at the Mathis facility, including its hazardous waste generator status, as set forth in the U.S. EPA
Region 6 letter to Trican USA dated April 27, 2015 regarding “Potential RCRA Violations and Opportunity for Settlement” and related correspondence, which investigation has been expanded to Trican U.S.’s facilities located in
Odessa, Texas; Springtown, Texas; and Mathis, Texas or may be expanded to additional Trican U.S. facilities, including without limitation all liabilities that arise from the US EPA RCRA Matter, costs to comply with applicable RCRA requirements, and
any fines and penalties. 
 “WARN” shall mean the Worker Adjustment and Retraining Notification Act of 1988, and any
similar state or local Law. 

  
 16 

 “Working Capital Basket” shall mean the Basket as reduced (but not below
$0) on a dollar-for-dollar basis by the aggregate amount of the reasonably expected Losses incurred, or to be incurred, by the Buyer Companies as a result of (x) the additions, supplements or amendments to the Seller Disclosure Schedules
pursuant to Section 6.18 and (y) the failure of (i) the Fundamental Representations of Trican Parent and the Seller Companies to be true and correct in all respects upon execution of this Agreement and as of the Closing
Date as though made on and as of the Closing Date and (ii) all other representations and warranties of Trican Parent and the Seller Companies to be true and correct in all material respects upon execution of this Agreement and as of the Closing
Date as though made on and as of the Closing Date. 
 1.2. Other Defined Terms. Each of the following terms is defined in the
Section set forth opposite such term: 

  
 17 

					
	Definition	  	Section	 
		
	 $ 10.4(d)
	  			
	 Accounts Receivable
	  	 	4.8(a	) 
	 Affiliate Transaction
	  	 	4.10	  
	 Agreement
	  	 	Preamble	  
	 Allocation
	  	 	3.7	  
	 Assumed Liabilities
	  	 	2.3	  
	 Business Customers
	  	 	4.21	  
	 Business Financial Statements
	  	 	4.7(a	) 
	 Business Insurance Policies
	  	 	4.23	  
	 Business Intellectual Property Contracts
	  	 	4.12(f	) 
	 Business Permits
	  	 	4.18	  
	 Business Suppliers
	  	 	4.22	  
	 Buyer
	  	 	Preamble	  
	 Buyer Benefit Plan
	  	 	5.13(a	) 
	 Buyer Companies
	  	 	Preamble	  
	 Buyer Disclosure Schedule
	  	 	5	  
	 Buyer Financial Statements
	  	 	5.4(a	) 
	 Buyer Indemnified Party
	  	 	9.2	  
	 Buyer Insurance Policies
	  	 	5.18	  
	 Buyer Permits
	  	 	5.13(c	) 
	 Buyer Related Party
	  	 	8.4	  
	 Buyer’s Estimate of Working Capital Basket
	  	 	3.6(a	) 
	 Buyer’s Net Working Capital Estimate
	  	 	3.6(a	) 
	 Buyer-Calculated Cash Purchase Price
	  	 	3.6(a	) 
	 Cap
	  	 	9.4(c	) 
	 Claim Notice
	  	 	9.6(a	) 
	 Closing
	  	 	3.3	  
	 Closing Cash Purchase Price
	  	 	3.2(b	) 
	 Closing Date
	  	 	3.3	  
	 Customer Contracts
	  	 	2.1(b	) 
	 Debt Financing
	  	 	5.19	  
	 Debt Financing Commitment
	  	 	5.19	  
	 Debt Financing Fee Letter
	  	 	5.19	  
	 Deductible
	  	 	9.4(b	) 
	 Defense Control Condition
	  	 	9.6(a	) 
	 Delayed Transfer Assets
	  	 	6.19	  
	 Designated Employees
	  	 	6.14(a	) 
	 dollars
	  	 	10.4(d	) 
	 Equity Financing
	  	 	5.19	  
	 Equity Financing Commitment
	  	 	Recitals	  
	 Excluded Assets
	  	 	2.2	  
	 Excluded Contracts
	  	 	2.2(c	) 
	 Excluded Employees
	  	 	6.14(a	) 

  
 18 

					
	 Excluded Liabilities
	  	 	2.4	  
	 Expiration Date
	  	 	9.1	  
	 Fees and Expenses
	  	 	8.3	  
	 Final Cash Purchase Price
	  	 	3.6(d	) 
	 Final Net Working Capital
	  	 	3.6(b	) 
	 Final Payment Date
	  	 	3.8	  
	 Final Stay Bonus Amount
	  	 	6.14(c	) 
	 Final Working Capital Basket
	  	 	3.6(b	) 
	 Financiers
	  	 	10.10	  
	 Financing
	  	 	5.19	  
	 Financing Commitments
	  	 	5.19	  
	 Included Environmental Liabilities
	  	 	2.3(e	) 
	 Incremental Debt Commitment
	  	 	5.19	  
	 Interim Business Financial Statements
	  	 	6.5	  
	 Interim Financial Statements
	  	 	6.6	  
	 Interim Period
	  	 	6.1	  
	 Keane Parent
	  	 	Preamble	  
	 Leases
	  	 	4.11(e	) 
	 Limited Guarantee
	  	 	Recitals	  
	 Losses
	  	 	9.2	  
	 Material Contract
	  	 	4.12	  
	 Mini-Basket
	  	 	9.4(b	) 
	 Net Working Capital Estimate
	  	 	3.2(a	) 
	 Non-Business Contracts
	  	 	2.2(b	) 
	 Notice Period
	  	 	9.6(a	) 
	 Objection Notice
	  	 	3.6(b	) 
	 Other Business Contracts
	  	 	2.1(d	) 
	 Parties
	  	 	Preamble	  
	 Party
	  	 	Preamble	  
	 Patents
	  	 	1.1	  
	 Phaseout Period
	  	 	6.26	  
	 Post-Closing Statement
	  	 	3.6	  
	 Purchased Assets
	  	 	2.1	  
	 Purchased Business Intellectual Property
	  	 	2.1(f	) 
	 RCRA
	  	 	1.1	  
	 Recent Financial Statements Date
	  	 	4.7(a	) 
	 Scheduled Assigned Supply Contracts
	  	 	2.1(c	) 
	 Scheduled Business Leased Real Property
	  	 	2.1(n	) 
	 Scheduled Business Owned Real Property
	  	 	2.1(m	) 
	 Scheduled Capital Leases
	  	 	2.3(g	) 
	 Scheduled Contracts
	  	 	2.1(d	) 
	 Scheduled Equipment
	  	 	2.1(g	) 
	 Scheduled IP
	  	 	2.1(f	) 
	 Scheduled Operating Leases
	  	 	2.3(h	) 
	 Scheduled Other Business Contracts
	  	 	2.1(d	) 
	 Scheduled Permits
	  	 	2.1(h	) 

  
 19 

					
	 Scheduled Purchased Assets
	  	 	4.4(a	) 
	 Seller Benefit Plans
	  	 	4.17(a	) 
	 Seller Disclosure Schedule
	  	 	4	  
	 Seller Indemnified Party
	  	 	9.3	  
	 Seller Termination Obligations
	  	 	6.14(b	) 
	 Sponsor
	  	 	Recitals	  
	 Stay Bonus Agreement
	  	 	4.27	  
	 Stay Bonus Obligation
	  	 	6.14(c	) 
	 Stay Bonuses
	  	 	4.27	  
	 Subsidiary Equity Interests
	  	 	5.2(c	) 
	 Supply Contracts
	  	 	2.1(c	) 
	 Term Debt Commitment
	  	 	5.19	  
	 Termination Cap
	  	 	6.14(a)(2	) 
	 Termination Obligations
	  	 	6.14(a	) 
	 Third Amended and Restated Keane Parent LLC Agreement
	  	 	2.5	  
	 Tier One Termination Fee
	  	 	8.4	  
	 Tier Two Termination Fee
	  	 	8.4	  
	 Trademarks
	  	 	1.1	  
	 Transaction
	  	 	Recitals	  
	 Transferred Employees
	  	 	6.14(a	) 
	 Trican marks
	  	 	6.26(a	) 
	 Trican Parent
	  	 	Preamble	  
	 Trican U.S.
	  	 	Preamble	  
	 U.S. EPA
	  	 	1.1	  
	 Working Capital Basket Estimate
	  	 	3.2(a	) 

 SECTION 2. PURCHASE AND SALE 

2.1. Purchase and Sale of the Purchased Assets. Subject to the terms and conditions set forth herein, at the Closing, the Seller
Companies shall sell, assign, transfer, convey and deliver to Buyer, and Buyer shall, and Keane Parent shall cause Buyer to, purchase from the Seller Companies, free and clear of any Encumbrances other than the Permitted Encumbrances, all of the
Seller Companies’ right, title and interest in, to and under all of the assets, properties and rights of every kind and nature, whether real, personal or mixed, tangible or intangible (including goodwill), wherever located and whether now
existing or hereafter acquired (other than the Excluded Assets), and which relate to, or are used or held for use in connection with, the Business (collectively, the “Purchased Assets”), including each of the following: 

(a) all inventory used primarily in connection with the Business, including those finished goods, raw materials, work in progress, packaging,
supplies, parts, components and other inventories; 
 (b) written Contracts with the customers of the Business (the “Customer
Contracts”) set forth on Section 2.1(b) of the Seller Disclosure Schedule or entered into in connection with the Business during the Interim Period in accordance with Sections 6.1 and 6.18;

  
 20 

 (c) written Contracts with each supplier of the Business (the “Supply
Contracts”), a complete and correct list of which, as of the date hereof, is set forth on Section 2.1(c) of the Seller Disclosure Schedule or entered into in connection with the Business during the Interim Period in accordance with
Sections 6.1 and 6.18; (the “Scheduled Supply Contracts”); 
 (d) written
Contracts with any other Person relating to the Business (the “Other Business Contracts”), a complete and correct list of which, as of the date hereof, is set forth on Section 2.1(d) of the Seller Disclosure Schedule,
along with any such Contracts entered into in connection with the Business during the Interim Period in accordance with Section 6.1; (the “Scheduled Other Business Contracts” and together with the Customer
Contracts and Scheduled Supply Contracts, the “Scheduled Contracts”); 
 (e) all Accounts Receivable, and any
security, claim, remedy or other similar right associated with the Accounts Receivable; 
 (f) Intellectual Property Rights that are owned
by any of the Seller Companies and used primarily to conduct, or relate primarily to, the Business (the “Purchased Business Intellectual Property”), a complete and correct list of which, as of the date hereof is set forth on
Section 2.1(f) of the Seller Disclosure Schedule, and in each case, all associated goodwill, including all rights thereunder, remedies against past and future infringement and rights to protection of interests therein under the Laws of all
jurisdictions (collectively, the “Scheduled IP”); 
 (g) all furniture, fixtures, equipment, machinery, tools,
spare parts, vehicles, office equipment, supplies, computers, telephones and other Tangible Personal Property primarily used or primarily held for use in connection with the Business, a complete and correct list of which, as of the date hereof is
set forth on Section 2.1(g) of the Seller Disclosure Schedule (collectively, the “Scheduled Equipment”); 

(h) to the extent transferable and reasonably useful, all Business Permits, which are held by any of the Seller Companies and primarily
useful for the conduct of the Business, a complete and correct list of which, as of the date hereof is set forth on Section 2.1(h) of the Seller Disclosure Schedule (collectively, the “Scheduled Permits”); 

(i) all prepaid expenses, credits, advance payments, claims, security, refunds, rights of recovery, rights of set-off, rights of recoupment,
deposits, charges, sums and fees (other than prepaid Taxes) primarily related to the Business; 
 (j) all of the Seller Companies’
rights, to the extent transferable, under warranties, indemnities and all similar rights against third parties to the extent primarily related to the Business or the Purchased Assets; 

(k) copies of all current and historical Books, Records and Files (other than income and similar Tax Returns and related Books, Records and
Files), to the extent used 

  
 21 

 
in, or related to, the Business; provided, however, that they may be redacted to the extent primarily used in, or related to, the Excluded Assets or Excluded Businesses from Books,
Records and Files and similar materials conveyed pursuant to this Section 2.1(k); 
 (l) all goodwill and the going
concern value of the Business; 
 (m) all Owned Business Real Property, and any and all rights, contracts, or options to acquire a fee
simple interest in real property in connection with the conduct of the Business, a complete and correct list of which is set forth on Section 2.1(m) of the Seller Disclosure Schedule (collectively, the “Scheduled Business Owned Real
Property”); 
 (n) all Leased Business Real Property, a complete and correct list of which is set forth on Section 2.1(n)
of the Seller Disclosure Schedule (collectively, the “Scheduled Business Leased Real Property”); and 
 (o) all
rights of any Seller Company with respect to any Action, claim or proceeding against any third party primarily relating to the Business, a complete and correct list of which, as of the date hereof, is set forth on Section 2.1(o) of the Seller
Disclosure Schedule. 
 2.2. Excluded Assets. Notwithstanding the foregoing, the Purchased Assets shall not include the
following assets of the Seller Companies (collectively, the “Excluded Assets”): 
 (a) cash and cash equivalents;

 (b) all Contracts to which any of the Seller Companies or one of their Affiliates is a party or by which any of the Seller Companies or
any of their properties or assets may be bound that are not primarily related to the Business, including any customer Contracts that are not Customer Contracts (collectively, the “Non-Business Contracts”); 

(c) all Contracts (other than the Scheduled Contracts and Contracts entered into in connection with the Business during the Interim Period in
accordance with Section 6.1), including the Contracts set forth on Section 2.2(c)) of the Seller Disclosure Schedule (together with the Non-Business Contracts, the “Excluded Contracts”); 

(d) the corporate seals, organizational documents, minute books, stock books, Tax Returns, books of account or other records having to do
with the corporate organization of any of the Seller Companies; 
 (e) all Seller Benefit Plans and assets attributable thereto; 

(f) the assets, properties and rights specifically set forth on Schedule 2.2(f) of the Seller Disclosure Schedule; 

(g) the rights which accrue or will accrue to any of the Seller Companies under this Agreement, the Transaction Documents and the
transactions contemplated hereby and thereby; 

  
 22 

 (h) all intercompany accounts receivable between any of the Seller Companies and any of their
Affiliates, or between the Seller Companies; 
 (i) all rights under warranties, indemnities and all similar rights of Trican Parent or any
of their Affiliates other than those specified in Section 2.1(i); 
 (j) all of the Business Insurance Policies; 

(k) all rights to any Actions of any nature available to or being pursued by the Seller Companies to the extent related to actions or
omissions prior to the Closing, whether arising by way of counterclaim or otherwise, other than those relating to the Business, the Purchased Assets or the Assumed Liabilities; 

(l) Books, Records and Files that the Seller Companies are required by Law to retain in their possession; 

(m) Intellectual Property Rights that are owned by (i) the Trican Parent or (ii) any of the Seller Companies that are not used
primarily to conduct, or relate primarily to, the Business, as of the date hereof, including the Intellectual Property Rights set forth on Section 2.2(m) of the Seller Disclosure Schedule, and in each case, all associated goodwill, including
all rights thereunder, remedies against past and future infringements and rights to protection interests therein under the Laws of all jurisdictions. 

(n) all interests in and to refunds of Taxes relating to Pre-Closing Tax Periods or the Excluded Assets, other than any such refunds relating
to the Disclosed Obligations; and 
 (o) all other property and assets of the Seller Companies to the extent not primarily used in or
primarily related to the Business. 
 2.3. Assumed Liabilities. At the Closing, Buyer shall, and Keane Parent shall cause
Buyer to, assume and agree to pay, perform and discharge when due, and indemnify and hold the Seller Companies harmless from and against any and all Losses attributable to, only the Liabilities of the Seller Companies set forth on
Section 2.3 of the Seller Disclosure Schedule (the “Assumed Liabilities”), including and limited to: 

(a) all Liabilities of the Seller Companies arising from or related to the Purchased Contracts; 

(b) all Liabilities of the Seller Companies for Disclosed Claims (including reasonable legal expenses incurred by the Buyer Indemnified
Parties or Seller Indemnified Parties in defending such claims), subject to Trican Parent’s obligations pursuant to Sections 6.16 and 9.2(d); 

(c) (i) Non-Income Taxes imposed on or with respect to the Seller Companies, the Business or the Purchased Assets with respect to a
Straddle Period to the extent that such Taxes do not constitute Pre-Closing Taxes, and (ii) Taxes imposed solely as a result of a Disclosed Claim (including reasonable legal expenses incurred by the Buyer Indemnified

  
 23 

 
Parties or Seller Indemnified Parties in connection therewith), provided that Trican Parent will reimburse Buyer for such sales and use Taxes until the Disclosed Obligations Cap has been
exhausted; 
 (d) Transfer Taxes incurred in connection with the consummation of the Transaction which the Buyer Companies are responsible
for pursuant to Section 6.21(a); 
 (e) the Environmental Liabilities arising from or related to the Owned Business Real
Property and Leased Business Real Property, but only to the extent that such Owned Business Real Property or Leased Business Real Property is a Purchased Asset (“Included Environmental Liabilities”); 

(f) all Liabilities of the Seller Companies arising from or related to the Transferred Employees, other than any Excluded Employee
Liabilities, and, without being limited by the foregoing, Buyer’s obligations pursuant to Section 6.14 (Employee Matters) hereof, including under any Stay Bonus Obligations pursuant to Section 6.14; 

(g) all Liabilities of the Seller Companies arising from or related to the capital leases set forth on Section 2.3(g) of the Seller
Disclosure Schedule (the “Scheduled Capital Leases”); 
 (h) all Liabilities of the Seller Companies arising from
or related to the operating leases set forth on Section 2.3(h) of the Seller Disclosure Schedule (the “Scheduled Operating Leases”); and 

(i) all Liabilities of the Seller Companies to the extent such Liabilities are included in calculation of the Final Net Working Capital. 

Notwithstanding anything to the contrary herein, the Assumed Liabilities shall not include the Excluded Liabilities set forth in
Section 2.4 below. 
 2.4. Excluded Liabilities. At the Closing, Trican Parent and the Seller Companies
shall retain, and shall be responsible for paying, performing and discharging when due, and neither Keane Parent, the Buyer Companies nor Buyer shall assume or have any responsibility for, all Liabilities of Trican Parent and the Seller Companies,
(other than for the Assumed Liabilities) including the following Liabilities (collectively, the “Excluded Liabilities”): 

(a) all Liabilities of the Seller Companies or any of their Affiliates to the extent relating to or arising out of the Excluded Businesses or
the Excluded Assets or otherwise not related to the Business; 
 (b) all Liabilities relating to the Seller Benefit Plans; 

(c) all Excluded Employee Liabilities; 

(d) all Tax Liabilities imposed on or with respect to the Seller Companies, the Business or the Purchased Assets except those specified in
Section 2.3(c); 

  
 24 

 (e) all Indebtedness of any of Trican Parent, the Seller Companies or any of their Affiliates
except for the Scheduled Capital Leases and for the avoidance of doubt, except for any obligations under any of the Scheduled Operating Leases; 

(f) all intercompany payables and loans between Trican Parent and any of the Seller Companies and any of their Affiliates, or between the
Seller Companies; and 
 (g) any Liabilities or obligations of the Seller Companies under the Transaction Documents; 

(h) all pre-Closing workers compensation Liabilities; 

(i) all other Liabilities set forth on Section 2.4(i) of the Seller Disclosure Schedule; 

(j) all Environmental Liabilities, other than the Included Environmental Liabilities; including, without limitation, costs for the disposal
of (a) all Hazardous Materials associated with the Business that meet the definition of a waste under the Resource Conservation and Recovery Act, 42 U.S.C. § 6901, et seq., or analogous state law, and (b) all waste materials, that, in
either case of (a) or (b), as of the Closing Date, have been present for 60 days or more at any of the Owned Business Real Property or Leased Business Property or at any other property at which the Business operates, including without
limitation customer sites. Such disposal costs shall include, without limitation, all costs associated with waste characterization, disposal, fines, penalties, notice and manifest requirements, and other requirements under Environmental Law for the
proper disposal of such Hazardous Materials and waste materials; 
 (k) Transfer Taxes incurred in connection with the consummation of the
Transaction which Trican Parent and the Seller Companies are responsible for pursuant to Section 6.21(a); and 
 in each case, except to
the extent such Liabilities are included in the calculation of Final Net Working Capital. 
 2.5. Third Amended and Restated Keane
Parent LLC Agreement. At the Closing, the Second Amended and Restated Limited Liability Company Agreement of Keane Parent shall be amended and restated substantially in the form attached hereto as Exhibit F (the
“Third Amended and Restated Keane Parent LLC Agreement”), until thereafter amended, modified or supplemented in accordance with its terms. 

SECTION 3. CLOSING AND RELATED MATTERS 

3.1. Purchase Price; Issuance of Units; Class C Profits Interest. On the terms and subject to the conditions set forth in this
Agreement, in consideration of the sale of the Purchased Assets and the assumption of the Assumed Liabilities, at the Closing: 
 (a) Buyer
shall, and Keane Parent shall cause Buyer to, pay to Trican U.S. by wire transfer of immediately available funds to a bank account designated by Trican U.S. in writing not fewer than two Business Days prior to the Closing, the Closing Cash Purchase
Price. The Final Cash Purchase Price is the Closing Cash Purchase Price, as it may be adjusted in accordance with Section 3.6; 

  
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 (b) Keane Parent shall, at the direction of Buyer and as a portion of the consideration payable
by Buyer for the Purchased Assets, issue to Trican U.S. and Trican U.S. shall acquire from Keane Parent at Buyer’s direction, the Keane Common Equity Units; and 

(c) Keane Parent shall issue to Trican U.S. the Class C Profits Interests in the amount set out in, and in accordance with, Schedule A to the
Third Amended and Restated Keane Parent LLC Agreement. 
 3.2. Closing Cash Purchase Price. 

(a) At least five Business Days prior to Closing, Trican U.S. shall deliver to Keane Parent a certificate, dated as of the date of delivery,
setting forth Trican U.S.’s reasonable, good faith estimate of the Closing Cash Purchase Price, including a statement in reasonable detail of the (i) estimated amount of the Net Working Capital as of the Closing (the “Net
Working Capital Estimate”), calculated in accordance with GAAP and to the extent consistent with GAAP, prepared in a manner consistent with the Net Working Capital Calculation and (ii) the estimated amount of the Working Capital
Basket (the “Working Capital Basket Estimate”); provided that, if Keane Parent indicates in writing to Trican U.S. at least two Business Days prior to the Closing that it does not agree with Trican U.S.’s
calculation of the Net Working Capital Estimate or the Working Capital Basket Estimate, then Keane Parent and Trican U.S. will use commercially reasonable efforts to mutually reconcile such dispute and if any adjustments are made thereto, then the
adjusted calculation of the Net Working Capital Estimate or the Working Capital Basket Estimate, as applicable, as so mutually reconciled, shall be the Net Working Capital Estimate or the Working Capital Basket Estimate, as applicable. 

(b) At the Closing, Buyer shall, and Keane Parent shall cause Buyer to, pay to Trican U.S. in cash, by wire transfer of immediately available
funds, to the account or accounts designated in writing by Trican U.S. to Buyer at least two Business Days prior to the date of the Closing, an aggregate amount (the “Closing Cash Purchase Price”) equal to (A) the
Initial Cash Purchase Price either plus (B) the amount (if any) by which the Net Working Capital Estimate exceeds the Reference Net Working Capital or minus (B) the amount (if any) by which the Reference Net Working Capital is greater than
the sum of the Net Working Capital Estimate and the Working Capital Basket Estimate. 
 3.3. Closing. Subject to the terms and
conditions of this Agreement, the sale and purchase of the Purchased Assets and the assumption of the Assumed Liabilities contemplated by this Agreement shall take place at a closing (the “Closing”) to be held at the offices
of Schulte Roth & Zabel LLP, 919 Third Avenue, New York, NY 10022, at 10:00 a.m. local time, on the fifth Business Day following the satisfaction or waiver of each of the conditions set forth in Section 7 (other than
those conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver of those conditions at the Closing) or at such other place, time or date as Trican Parent and Keane Parent may mutually agree in
writing (the day on which the Closing takes place, the “Closing Date”). 

  
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 3.4. Closing Deliveries by Trican Parent. At the Closing, Trican U.S. shall deliver
to Buyer: 
 (a) a duly executed counterpart of each Bill of Sale and Assignment and Assumption Agreement; 

(b) a duly executed counterpart of each Intellectual Property Agreement; 

(c) a duly executed counterpart of the Transition Services Agreement; 

(d) evidence reasonably satisfactory to Keane Parent that the Consents identified on Section 3.4(d) of the Seller Disclosure Schedule as
being required as a condition of Closing have been obtained; 
 (e) the certificate required by Section 7.2(f); 

(f) a duly executed counterpart of the Services Agreement; 

(g) duly executed assignments of lease, in customary form, conveying each Leased Business Real Property to Buyer or its designated Affiliate;

 (h) a duly executed counterpart of the Third Amended and Restated Keane Parent LLC Agreement; 

(i) duly executed deeds, in customary form, conveying each Owned Business Real Property to Buyer or its designated Affiliate; 

(j) a duly executed certificate from each Seller Company substantially in the form set forth in Treasury Regulations
Section 1.1445-2(b)(2)(iv)(b); 
 (k) evidence reasonably satisfactory to Keane Parent that each of the Lender Consents is in full
force and effect and the release of all collateral constituting Purchased Assets has occurred or will occur concurrently with Closing; 

(l) a true and correct copy of the Bring-down Solvency Opinion; and 

(m) a duly executed copy of any other instrument or agreement, reasonably requested by Buyer. 

3.5. Closing Deliveries by Keane Parent. At the Closing, Buyer shall deliver, and Keane Parent shall cause Buyer to deliver to
Trican U.S.: 
 (a) the Closing Cash Purchase Price pursuant to Section 3.1; 

(b) a duly executed counterpart of each Bill of Sale and Assignment and Assumption Agreement; 

(c) a duly executed counterpart of each Intellectual Property Agreement; 

  
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 (d) certificates representing the Keane Common Equity Units and the Class C Profits Interests;

 (e) a duly executed counterpart of the Transition Services Agreement; 

(f) the certificate required by Section 7.3(e); 

(g) a duly executed counterpart of the Services Agreement; 

(h) a duly executed assumption of lease by Buyer or its designated Affiliate, in customary form, assuming the Leased Business Real Property
from the applicable Seller Company; 
 (i) a duly executed counterpart of the Third Amended and Restated Keane Parent Agreement; and 

(j) a duly executed copy of any other instrument, agreement, or document, reasonably requested by Trican Parent, including for the purposes
of complying with any disclosure obligations under applicable Laws. 
 3.6. Post-Closing Adjustment. 

(a) Post-Closing Statement. Keane Parent shall prepare and deliver to Trican U.S., a written statement setting forth the
information required by the following sentence (the “Post-Closing Statement”) within 90 days after the Closing Date. The Post-Closing Statement shall set forth, as of the Closing, (i) Keane Parent’s determination of
the Net Working Capital Estimate (the “Buyer’s Net Working Capital Estimate”); (ii) a calculation, in reasonable detail, showing how the Buyer’s Net Working Capital Estimate was calculated; (iii) Keane
Parent’s determination of the Working Capital Basket Estimate (“Buyer’s Estimate of Working Capital Basket”); (iv) a calculation, in reasonable detail, showing how the Buyer’s Estimate of Working Capital
Basket was calculated and (v) the Final Cash Purchase Price, if calculated based on the Buyer’s Net Working Capital Estimate and taking into account the Buyer’s Estimate of Working Capital Basket (the “Buyer-Calculated Cash
Purchase Price”). The Post-Closing Statement shall be prepared in accordance with GAAP and to the extent in accordance with GAAP, in a manner consistent with the Net Working Capital Calculation. 

(b) Determination of Final Net Working Capital. Within 30 days following Keane Parent’s delivery of the Post-Closing
Statement, Trican U.S. may deliver a written notice to Keane Parent (an “Objection Notice”), (i) indicating that Trican U.S. disputes the Buyer’s Net Working Capital Estimate or the Buyer’s Estimate of Working
Capital Basket and (ii) specifying in reasonable detail all disputed items and the basis therefor. The Objection Notice shall be prepared in a manner consistent with GAAP and to the extent consistent with GAAP, the Net Working Capital
Calculation. If Trican U.S. does not deliver an Objection Notice within such 30-day period, then the Buyer’s Net Working Capital Estimate and the Buyer’s Estimate of Working Capital Basket shall be deemed to be the Final Net Working
Capital and the Final Working Capital Basket, as applicable. If Trican U.S. delivers an Objection Notice within such 30-day period, then Trican U.S. and Keane Parent shall negotiate in good faith to resolve such dispute. If such dispute is resolved
in writing by Trican U.S. and 

  
 28 

 
Keane Parent within 30 days following receipt by Keane Parent of the Objection Notice, then the Buyer’s Net Working Capital Estimate, as adjusted to reflect the results of such resolution,
shall be deemed to be the Final Net Working Capital. If such dispute is not resolved in writing by Trican U.S. and Keane Parent within such 30-day period, then Trican U.S. and Keane Parent jointly shall engage the Accounting Firm, acting as an
expert and not as an arbitrator, to resolve only such remaining disputed amounts. The Accounting Firm shall only decide the specific items under dispute by the Parties as indicated in the Objection Notice. As promptly as practicable thereafter, and
in no event later than 30 days thereafter, Trican U.S. and Keane Parent shall (i) each prepare and submit a presentation to the Accounting Firm detailing each Party’s complete statement of proposed resolution of the dispute and
(ii) instruct the Accounting Firm, acting as an expert and not an arbitrator attempting to reach an acceptable compromise, to render a decision resolving the matters in dispute, in accordance with GAAP and the applicable terms hereof, including
the Net Working Capital Calculation, within ten days of the submission of such matters to the Accounting Firm. The Accounting Firm shall not assign a value to any item in dispute greater than the greatest value for such item assigned to it by Trican
U.S., on the one hand, or Keane Parent, on the other hand, or less than the smallest value for such item assigned to it by Trican U.S., on the one hand, or Keane Parent, on the other hand. The Accounting Firm shall apply GAAP to the specific items
in dispute, and shall have no authority or power to alter, modify, amend, add to or subtract from any term or provision of GAAP or the terms of this Agreement. None of the Parties or any of their respective Representatives shall have any ex parte
communications or meetings with the Accounting Firm regarding the matters in dispute without the other Party’s or Parties’ prior written consent, and any written communications with the Accounting Firm by any Party shall be
contemporaneously delivered to the other Party. All determinations made by the Accounting Firm will be final, conclusive and binding on the Parties. The Buyer’s Net Working Capital Estimate and the Buyer’s Estimate of Working Capital
Basket, each as modified by the determinations of the Accounting Firm, shall be deemed to be the Final Net Working Capital and the Final Working Capital Basket, as applicable. The fees and expenses of the Accounting Firm shall be borne in the same
proportion that the aggregate dollar amount of such remaining disputed items so submitted to the Accounting Firm that are unsuccessfully disputed by Trican U.S., on the one hand, and Keane Parent, on the other hand, as finally determined by the
Accounting Firm, bears to the total dollar amount of such remaining disputed items so submitted. All determinations made by the Accounting Firm will be final, conclusive and binding on the Parties (absent fraud). By way of example only, if closing
accounts receivable is the only disputed item submitted to the Accounting Firm, and Trican U.S. claims that closing accounts receivable is $1,000, and Buyer contests only $500 of the amount claimed by Trican U.S., and if the Accounting Firm
ultimately resolves the dispute by awarding Trican U.S. $300 of the $500 contested, then the costs and expenses of the Accounting Firm will be allocated 60% (i.e., 300 ÷ 500) to Keane Parent and 40% (i.e., 200 ÷ 500) to Trican U.S. The
Net Working Capital as finally determined in accordance with this Section 3.6(b) is referred to herein as the “Final Net Working Capital” and the Working Capital Basket as finally determined in accordance
with this Section 3.6(b) is referred to herein as the “Final Working Capital Basket”. 
 (c)
Access. For purposes of complying with the terms set forth in this Section 3.6(c), the Seller Companies and Trican Parent, on the one hand, and the Buyer Companies, on the other hand, shall cooperate with and make
available to the other Party or Parties, as applicable, and their respective Representatives all information, records and data, and 

  
 29 

 
shall permit access to its personnel, as may be reasonably required in connection with the preparation and analysis or review of the Post-Closing Statement, the Objection Notice and the
Parties’ attempt at a resolution (in any case, subject to the execution of customary access letters, if requested, with respect to the work product of a Party’s independent accountant); provided that such access shall be in a manner
that does not interfere with the normal business operations of the Seller Companies, the Business or the Buyer Companies. 
 (d)
Purchase Price Adjustment. Within five Business Days after the final determination of Final Net Working Capital and the Final Working Capital Basket, each pursuant to this Section 3.6, (i) if the Final Cash
Purchase Price exceeds the Closing Cash Purchase Price, then Keane Parent shall, or shall cause Buyer to, pay to Trican U.S. such excess, by wire transfer of immediately available funds to the account or accounts designated in writing by Trican U.S.
for such purpose, and (ii) subject to Section 3.8, if the Closing Cash Purchase Price exceeds the Final Cash Purchase Price, then Trican U.S. shall pay to Keane Parent or Buyer such excess, by wire transfer of immediately
available funds to the account designated in writing by Keane Parent for such purpose. The “Final Cash Purchase Price” shall mean the aggregate amount equal to (A) the Initial Cash Purchase Price either plus (B) the
amount (if any) by which the Final Net Working Capital exceeds the Reference Net Working Capital or minus (B) the amount (if any) by which the Reference Net Working Capital is greater than the sum of the Final Net Working Capital and the Final
Working Capital Basket. 
 3.7. Purchase Price Allocation.  

(a) Within 30 Business Days of the determination of the Final Net Working Capital in accordance with the provisions of
Section 3.6(b), Buyer shall provide to Trican Parent an allocation of the Final Cash Purchase Price among the Purchased Assets (the “Allocation”). The Allocation shall be prepared by Keane Parent in
accordance with Section 1060 of the Code and the Treasury Regulations promulgated thereunder. Trican Parent shall be entitled to review and comment on such schedule for 30 Business Days, and Keane Parent shall consider such comments in good
faith. Thereafter, Keane Parent shall provide to Trican Parent Keane Parent’s final allocation schedule. 
 (b) Each of Trican Parent
and the Seller Companies, on the one hand, and Keane Parent and the Buyer, on the other hand, shall (i) be bound by the Allocation for purposes of determining Taxes and (ii) prepare and file, and cause its Affiliates to prepare and file,
its Tax Returns on a basis consistent with the Allocation. Neither Trican Parent, the Seller Companies, Keane Parent, nor the Buyer shall take any position inconsistent with the Allocation in any Tax Return, in any refund claim, in any litigation,
or otherwise unless required by a final determination by an applicable taxing authority. 
 3.8. Reduction to Keane Common Equity
Units. If Trican Parent or the Seller Companies fail to pay, or cause to be paid, as applicable, any amounts owed to Keane Parent or Buyer pursuant to Sections 3.6(d)(ii), 6.16 or 9, Keane Parent may deliver a
notice in accordance with Section 10.6 to Trican Parent to that effect. If Trican Parent or the Seller Companies fail to pay, or cause to be paid, as applicable, any such amounts within 10 days from the date of receipt of such
notice, or 30 days from the date of final resolution or determination of a dispute between Keane Parent or Buyer, on the one hand, and Trican Parent or the Seller Companies, on the other 

  
 30 

 
hand, in respect of such amounts, whichever is later (the “Final Payment Date”), then Trican U.S.’s Keane Common Equity Units will immediately and automatically be
reduced on a dollar-for-dollar basis based on the Implied Default Valuation equal to such amounts paid by, or due to, Keane Parent or Buyer; provided that at least 10 days prior to the Final Payment Date, Keane Parent will provide a written
notice to Trican Parent and Trican U.S. setting forth the calculation of any such adjustment and the number of Keane Common Equity Units owned by Trican U.S. (and the fully diluted percentage ownership thereof) after taking into account any
adjustment in accordance with this Section 3.8. 
 3.9. Tax Treatment of Consideration. The Parties intend,
for U.S. federal income tax purposes, that the transactions described in Section 2.1 be treated as follows: (i) in part as if Trican U.S. contributed an undivided interest in the Purchased Assets to Buyer in exchange for the
Keane Common Equity Units in a transaction consistent with the requirements of Section 721(a) of the Code, to the extent applicable, and (ii) in part as if Trican U.S. received a distribution from Buyer of the Final Cash Purchase Price as
a disguised sale of an undivided interest in the Purchased Assets subject to treatment under Section 707(a) of the Code and its implementing Treasury Regulations. The Parties shall not take a position that is inconsistent with the foregoing
provisions of this Section 3.9 in any Tax Return, or otherwise in respect of any Tax matter, unless otherwise required by applicable Law. 

SECTION 4. REPRESENTATIONS AND WARRANTIES OF TRICAN PARENT AND THE SELLER COMPANIES. 

In order to induce Keane Parent and Buyer to enter into this Agreement and to consummate the transactions contemplated by this Agreement, each
of Trican Parent and the Seller Companies, jointly and severally, make to Keane Parent and Buyer, the representations and warranties contained in this Section 4 as of the date hereof and as of the Closing Date (except for those
representations and warranties made as of a specific date, which shall be made only as of such date), which representations and warranties are subject to the qualifications and exceptions set forth in the disclosure schedule delivered to Keane
Parent and Buyer prior to the execution of this Agreement (the “Seller Disclosure Schedule”). Each exception set forth in the Seller Disclosure Schedule is identified by reference to, or has been grouped under a heading
referring to, a specific individual section of this Agreement and shall be deemed to qualify the particular section or sections of Section 4 specified for such item, unless there is an explicit and reasonably specific
cross-reference to another section or sections of Section 4, in which case such exception shall also be deemed to qualify such other section or sections. References herein to the “knowledge” or
“awareness” of the Seller Companies or Trican Parent shall mean the actual knowledge of Dale Dusterhoft, Mike Baldwin, Jim McKee, Don Luft, Sam Daniel, Bonita Croft and Mehgan Wichuk, after due inquiry. 

4.1. Organization; Corporate Power. Each of Trican Parent and the Seller Companies is a legal entity duly organized, validly
existing and in good standing under the Laws of its jurisdiction of organization. Each of Trican Parent and the Seller Companies has all required corporate, limited partnership or similar power, as applicable, and authority to own, lease, or
otherwise hold the Purchased Assets and to carry on the Business as presently conducted, to execute, deliver and perform this Agreement and the other Transaction Documents to which it is a party. The copies of the organizational documents of each of
Trican Parent and 

  
 31 

 
the Seller Companies that have been furnished to Buyer by the Seller Companies prior to the date hereof are correct and complete as of the date hereof. Other than the Seller Companies, no other
Person that is an Affiliate of Trican Parent has any right, title or interest in any asset that would constitute a Purchased Asset if such Person were a Seller Company hereunder. Each of the Seller Companies is duly qualified to do business as a
foreign corporation, limited liability company or partnership, as applicable, in each jurisdiction where such qualification is required, except where the failure to so qualify would not, in the aggregate, be material. 

4.2. Authorization and Non-Contravention. This Agreement is, and, upon execution and delivery by Trican Parent and the Seller
Companies pursuant to the terms hereof, all Transaction Documents required to be executed and delivered by Trican Parent and the Seller Companies pursuant hereto at Closing will be, valid and binding obligations of the Seller Companies, enforceable
against Trican Parent and each of the Seller Companies, as applicable, in accordance with their respective terms. The execution, delivery and performance of this Agreement and all other Transaction Documents by Trican Parent and each of the Seller
Companies have been duly authorized by all necessary corporate or limited partnership action, as applicable, and shareholder or partnership action, as applicable, of Trican Parent and each of the Seller Companies, and no other corporate or limited
partnership proceedings, as applicable, on the part of Trican Parent or any of the Seller Companies are necessary to authorize or approve this Agreement and the Transaction Documents. The Transaction does not constitute a sale of all or
substantially all of Trican Parent’s assets, as determined in accordance with the applicable Law. No vote of the holders of any class or series of capital stock of Trican Parent or any of its Affiliates is necessary to approve this Agreement or
the Transaction. Except as set forth in Section 4.2 or 4.5 of the Seller Disclosure Schedule, and except for compliance with the applicable requirements of the HSR Act, neither the execution, delivery and performance by Trican Parent or any of
the Seller Companies of this Agreement and all Transaction Documents, nor the consummation of the Transaction will (i) violate or result in a violation of, conflict with or constitute or result in a violation of or default (whether after the
giving of notice, lapse of time or both) or loss of benefit under any provision of the articles of incorporation, operating agreement, limited partnership agreement, bylaws or similar organizational document of Trican Parent or any of the Seller
Companies, or cause the creation of any Encumbrance upon any of the Purchased Assets; (ii) violate, conflict with or result in a violation of, or constitute a default (whether after the giving of notice, lapse of time or both) under, any
provision of any Law or any Order applicable to Trican Parent or any of the Seller Companies; (iii) require from Trican Parent or any of the Seller Companies any notice to, declaration or filing with, or consent or approval of any Governmental
Authority or other Person; or (iv) violate or result in a violation of, or conflict with or constitute or result in a violation of or default (whether after the giving of notice, lapse of time or both) under, accelerate any obligation under, or
give rise to a right of termination of, any Business Permit, other than, in the case of clauses (ii), (iii) and (iv), such violations, conflicts, defaults or encumbrances that would not, individually or in the aggregate, reasonably be material.

 4.3. Solvency. After giving effect to the Transaction, including the assumption of the Assumed Liabilities, retention of
the Excluded Liabilities, payment of all amounts required to be paid in connection with the consummation of the Transaction, and payment of all related costs, fees and expenses, Trican Parent and its Subsidiaries (on a consolidated basis) will be
Solvent as of the Closing Date and immediately after the consummation of the Transaction, and Trican Parent has delivered to Keane Parent a true and correct copy of the Solvency Opinion. 

  
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 4.4. Title to and Sufficiency and Condition of Assets. 

(a) Except as set forth in Section 4.4(a) of the Seller Disclosure Schedule, and except as would not, individually or in the aggregate,
reasonably be expected to be material, and other than the Permitted Encumbrances, the Seller Companies have good, valid and marketable title to each of the Purchased Assets, including the Tangible Personal Property, a complete and correct list
(other than immaterial exceptions) of which, as of the date hereof is set forth on Section 4.4(a) of the Seller Disclosure Schedule (the “Scheduled Purchased Assets”). 

(b) Section 4.4(b) of the Seller Disclosure Schedule sets forth a complete and correct list of the Scheduled Purchased Assets other than
the Unutilized Equipment. 
 (c) Except for the Unutilized Equipment, a complete and correct list (other than immaterial exceptions) of
which, as of the date hereof is set forth in Section 4.4(c) of the Seller Disclosure Schedule, all of the Purchased Assets are in good operating condition and repair, subject to normal wear and maintenance, and are usable in the ordinary course
of business consistent with the Seller Companies’ past practices. 
 (d) The cost of carrying out all maintenance and repair
operations necessary to bring the Unutilized Equipment into good operating condition and repair and usable in the ordinary course of business consistent with the Seller Companies’ past practices, will not exceed $4,750,000 in the aggregate.

 (e) The Purchased Assets, taken together with the services, assets and rights to be provided hereunder or under the Transaction
Documents, the Excluded Assets and the Excluded Business, constitute, all of the properties, rights, tangible and intangible assets necessary to operate the Business. 

  
 33 

 4.5. Consents of Purchased Contracts. Except as disclosed on Section 4.5 of
the Seller Disclosure Schedule, and except for notices of assignment required to be delivered on a post-closing basis, neither the execution, delivery and performance by Trican Parent or any of the Seller Companies of this Agreement or any other
Transaction Documents, nor the consummation of the Transaction, will (i) require from Trican Parent or any of the Seller Companies any notice to, declaration or filing with, or consent or approval of any Person or (ii) violate or result in
a violation of, or conflict with or constitute or result in a violation of or default (whether after the giving of notice, lapse of time or both) under, accelerate any obligation under, or give rise to a right of termination of, any of the Material
Contracts. Trican Parent has delivered to Keane Parent true and correct copies of the Lender Consents, which Consents have not been amended, modified or revoked and are in full force and effect. 

4.6. Inventory. All inventory of the Business is, in all material respects, of a quantity and quality consistent with the
quantity and quality levels maintained in the ordinary course of business consistent with the Seller Companies’ past practice. 

4.7. Business Financial Statements. 

(a) (i) Trican Parent has delivered to Keane Parent the unaudited balance sheets and income statements of Trican Well Service, L.P. as
of and for the fiscal year ended December 31, 2014 and as of and for monthly periods ended October 31, 2015 (such latter date being the “Recent Financial Statements Date”, and such financial statements, together
with the Interim Business Financial Statements, the “Business Financial Statements”). The Business Financial Statements have been, and in the case of the Interim Business Financial Statements will be, prepared in accordance
with the Applicable Accounting Principles and fairly present, and in the case of the Interim Business Financial Statements will fairly present, the financial condition and results of operations of the Business as of the respective dates of and for
the periods referred to therein. The Business Financial Statements give effect to the exclusion of the Excluded Businesses and their respective assets, liabilities and results of operation. 

(b) Neither the Seller Companies nor any of their Subsidiaries has any Liabilities (whether known or unknown) pertaining to the Business, and
there is no existing condition, situation or set of circumstances which is reasonably expected to result in such Liabilities, except Liabilities pertaining to the Business (i) reflected or reserved against on the balance sheet of the Business
as of the Recent Financial Statements Date included in the Business Financial Statements; or (ii) incurred after the Recent Financial Statements Date in the ordinary course of business consistent with past practice. 

(c) There are no off-balance sheet arrangements of any type (including any off-balance sheet arrangement required to be disclosed pursuant to
Item 303(a)(4) of Regulation S-K promulgated under the Securities Act) pertaining to the Business. 
 (d) Neither Trican Parent nor
the Seller Companies nor any of their Subsidiaries nor any director or executive officer thereof has, and to the knowledge of Trican Parent or any of the Seller Companies, no other officer, employee or accountant of Trican Parent or any of the
Seller Companies or any of its Subsidiaries has, received any material complaint, allegation, assertion or claim, in writing that Trican Parent or any of the Seller Companies or any 

  
 34 

 
of their Subsidiaries has engaged in improper, illegal or fraudulent accounting or auditing practices pertaining to the Business. Except as provided in Section 4.7(d) of the Seller
Disclosure Schedule, to the knowledge of the Seller Companies, no attorney representing Trican Parent or any of the Seller Companies or any of their Subsidiaries has reported evidence of a material violation of securities laws, breach of fiduciary
duty or similar material violation by Trican Parent or any of the Seller Companies or their Subsidiaries or any of their respective officers, directors, employees or agents pertaining to the Business to the board of directors or any committee
thereof or to any director or officer of Trican Parent or the Seller Companies or their Subsidiaries. 
 4.8. Accounts
Receivable. 
 (a) Except as would not, individually or in the aggregate, reasonably be expected to be material, each of the
accounts receivable of the Business as set forth in the Financial Statements (to the extent applicable) or arising since the date thereof (collectively, the “Accounts Receivable”) has arisen solely out of bona fide sales and
deliveries of goods, performance of services and other business transactions in the ordinary course of business consistent with the Seller Companies’ past practices, and is not subject to valid defenses, set-offs or counterclaims except as
expressly reserved against such Account Receivable in the Business Financial Statements. Except as would not, individually or in the aggregate, reasonably be expected to be material, and except as included as a Disclosed Claim, no account debtor or
note debtor of any Account Receivable has refused or, to the knowledge of Trican Parent or the Seller Companies, threatened to refuse, to pay any material obligations for any reason, or has otherwise made a claim of set-off or similar claim and no
account debtor or note debtor of any material Account Receivable is, to the knowledge of Trican Parent or the Seller Companies, insolvent or bankrupt. 

(b) Section 4.8(b) of the Seller Disclosure Schedule sets forth an aging list as of October 31, 2015 of all Accounts Receivable in
excess of $50,000, which list is complete and accurate in all material respects as of the Recent Financial Statements Date. 

  
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 4.9. Absence of Certain Developments. Except as expressly contemplated by this
Agreement, (a) since the Recent Financial Statements Date, there has not been any state of facts, change, development, event, effect, condition or circumstance that has had or would reasonably be expected to have, individually or in the
aggregate, a Seller Material Adverse Effect, and (b) between the Recent Financial Statements Date and the date hereof, neither Trican Parent nor any of the Seller Companies has taken any action that, if taken after the date of this Agreement
without the prior written consent of Keane Parent, would constitute a breach of Section 6.1. 
 4.10.
Affiliate Transactions. Except as set forth on Section 4.10 of the Seller Disclosure Schedule, (a) no director, officer, or employee of any of the Seller Companies is a party to any Contract or transaction with any of the Seller
Companies relating to the Business, (b) no director, officer, or employee of Trican Parent or any other Subsidiary or Affiliate of Trican Parent is a party to any Contract or transaction with any of the Seller Companies relating to the
Business, or (c) neither Trican Parent nor any of its Affiliates is a party to any Contract or transaction with any of the Seller Companies relating to the Business (each, an “Affiliate Transaction”). 

4.11. Properties.  

(a) Section 4.11(a) of the Seller Disclosure Schedule lists all Owned Business Real Property and Section 4.11(b) of the Seller
Disclosure Schedule lists all Leased Business Real Property. The applicable Seller Company has good, valid, marketable and insurable title to or, valid and subsisting leasehold or license interests in, free and clear of all Liens or Encumbrances
(except for Permitted Encumbrances), the Owned Business Real Property and Leased Business Real Property, as applicable. All Leased Business Real Property is held under good, valid, marketable and insurable title or valid leasehold or license
interest, as applicable, subject only to Permitted Encumbrances and such exceptions as would not, individually or in the aggregate, reasonably be expected to be material to the value or use of the property. There is no action pending, or to the
knowledge of Trican Parent and the Seller Companies, threatened, that if adversely determined would interfere, in any material respect, with the quiet enjoyment by the Seller Companies of any such leasehold or license. Except as set forth in
Section 4.11(c) of the Seller Disclosure Schedule, and except for the Permitted Encumbrances, no third party has any rights to occupy or otherwise use any portion of the Owned Business Real Property and/or the Leased Business Real Property.

 (b) With respect to each item of Owned Business Real Property, (i) there are no outstanding claims made by or against the Seller
Companies with respect to title or ownership of the Owned Business Real Property, (ii) no Governmental Authority or other Person has commenced to exercise the power of eminent domain or a similar power with respect to all or any part of the
Owned Business Real Property and there are no pending or, to the knowledge of Trican Parent and the Seller Companies, threatened, and none of the Seller Companies have received notice of any pending or threatened, condemnation or eminent domain
proceedings that affect any Owned Business Real Property, (iii) such Owned Business Real Property is in material compliance with all applicable Laws, including, without limitation, zoning ordinances, (iv) there are no pending or, to the
knowledge of Trican Parent and the Seller Companies, threatened, and none of the Seller Companies have received notice of any pending or threatened, fire, health, safety, building, zoning, tax certiorari or other land use regulatory proceedings,
lawsuits or 

  
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administrative actions relating to any portion of the Owned Business Real Property, which, if adversely determined could materially adversely affect the current use, occupancy or value thereof;
and (v) none of the Seller Companies have received notice of any pending or threatened special assessments or special assessment proceedings affecting any portion of the Owned Business Real Property. 

(c) Except as would not reasonably be expected to have a Seller Material Adverse Effect, each parcel of Owned Business Real Property
(i) has adequate rights of access to dedicated public ways or reciprocal easements and adequate utility service, sanitary service and drainage service to service the Real Property for its intended use and all public utilities necessary for the
use and enjoyment of the Real Property are located either in the public right-of-way abutting the Real Property (which are connected so as to serve such Real Property without passing over other property) or in recorded easements serving the Real
Property; (ii) is in good order and repair and structurally sound in all material respects; (iii) has all necessary occupancy and other certificates and permits, municipal and otherwise, for the lawful use and occupancy of the Real
Property for the Business, which occupancy and other certificates and permits are valid and in full force and effect; (iv) is in material compliance with all written notes or notices of violation of any applicable Law against or affecting such
Real Property; (v) does not have any outstanding correcting work orders issued to the Seller Companies from any Governmental Authority or any insurance company; and (vi) to the knowledge of Trican Parent and the Seller Companies, does not
have any pending or proposed special or other assessments for public improvements or otherwise affecting such Real Property (nor are there any contemplated improvements to the Real Property that may result in such special or other assessment). 

(d) Seller Companies have made available to Keane Parent copies of each deed for each parcel of Owned Business Real Property and all title
insurance policies, all underlying current title documents and surveys relating to the Owned Business Real Property. 
 (e) Seller
Companies have delivered to Keane Parent true, correct and complete copies of all leases, subleases, licenses or occupancy agreements, including any amendments or modifications thereto, pursuant to which the Leased Business Real Property is leased,
subleased or otherwise occupied by the Seller Companies (or, if oral, written summaries thereof) (collectively, the “Leases”). Each of the Leases is a valid and binding agreement of the applicable Seller Company or its
applicable Affiliate party thereto, and is in full force and effect, and neither the Seller Companies nor to the knowledge of Trican Parent and the Seller Companies, as of the date hereof, any other party thereto, is in default or breach in any
respect under the terms of any such Lease. 
 4.12. Certain Contracts and Arrangements. Section 4.12 of the Seller
Disclosure Schedule contains a complete and accurate list of any Contract primarily related to the Business other than the Excluded Contracts which, as of the date hereof, meets one or more of the below categories (each being a “Material
Contract”), each of which the Seller Companies have provided to Keane Parent a true and correct copy of: 
 (a) a Contract
involving a potential commitment or payment by any of the Seller Companies in excess of $50,000; 

  
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 (b) a Supply Contract, each of which is set forth on the Section 2.1(c) of the Seller
Disclosure Schedule; 
 (c) a Customer Contract, each of which is set forth on Section 2.1(b) of the Seller Disclosure Schedule; 

(d) a Contract involving an unperformed commitment in excess of $50,000 that is not cancelable by the Seller Companies without penalty on not
less than 90 days’ notice; 
 (e) a Contract containing (i) covenants limiting in any respect the freedom of the Seller Companies
to compete in any line of business or with any Person or entity or engaging in any particular business activities or (ii) minimum commitment, exclusivity, “most favored nation” or similar provisions; 

(f) a Contract relating to the inbound licensing of third party Intellectual Property Rights that primarily relates to the Business (the
“Business Intellectual Property Contracts”); 
 (g) an indenture, mortgage, promissory note, loan agreement,
guaranty or other Contract or commitment in respect of Indebtedness or any pledge or security Contract, except for credit with vendors in the ordinary course of business consistent with the Seller Companies’ past practices; 

(h) a joint venture, partnership, manufacturer or development Contract or Contract which involves a sharing of revenues, profits, losses,
costs or liabilities by any of the Seller Companies with any other Person; 
 (i) an acquisition, merger or similar Contract or other
Contract relating to the acquisition or disposition of equity interests or assets of any Person (other than Contracts in respect of the purchase of assets in the ordinary course of business consistent with the Seller Companies’ past practice
that, individually and in the aggregate, are not material); 
 (j) a management, consulting, non-competition or employment agreement or
other binding agreement or commitment to enter the same; 
 (k) a collective bargaining Contract or other Contract with any labor union or
other employee representative of a group of employees; or 
 (l) any other Contract not entered into in the ordinary course of business
consistent with the Seller Companies’ past practices. 
 The Material Contracts are valid and are in full force and effect and
constitute legal, valid and binding obligations of the applicable Seller Company party thereto and, to the knowledge of Trican Parent and the Seller Companies, of the other parties thereto, and, assuming the other parties thereto have validly
authorized, executed and delivered such Material Contracts, are enforceable in accordance with their respective terms, subject to limitations on enforcement imposed by bankruptcy, insolvency, reorganization or other Laws affecting the enforcement of

  
 38 

 
the rights of creditors and others and to the extent that equitable remedies such as specific performance and injunctions are only available in the discretion of the courts. As of the date
hereof, none of the Seller Companies has any knowledge of any notice or threat to terminate, cease performance of or amend in a manner adverse to the Seller Companies, any such Material Contracts. None of the Seller Companies is in breach of or
default under any such Material Contract and no condition or event or fact exists that, with notice, lapse of time or both, could constitute a breach or default thereunder on the part of the Seller Companies under any such Material Contract and, as
of the date hereof, to the knowledge of the Seller Companies, no other party is in material breach of or default under any such Material Contract. 

4.13. Financial Assurances. Section 4.13 of the Seller Disclosure Schedule sets forth each guarantee, surety bond, letter
of credit, letter of comfort, bid bond, performance bond and other financial assurance arrangement or commitment obtained or entered into by any of the Seller Companies for the benefit of the Business. 

4.14. Intellectual Property. 

(a) Section 4.14(a) of the Seller Disclosure Schedule contains a complete and accurate list of all Registered Business Intellectual
Property Rights. Except as set forth in Section 4.14(a)(7) of the Seller Disclosure Schedule (by reference to the applicable subsection below): 

(1) Trican Parent and the Seller Companies have the right to grant the license and right to use the Intellectual Property Rights as set forth
in each of the Intellectual Property License Agreements. 
 (2) None of the Seller Companies have received any notice alleging that any of
the Registered Business Intellectual Property Rights is invalid, unenforceable, unpatentable, unregisterable, cancelable, not owned or not owned exclusively by any of the Seller Companies. To the knowledge of the Seller Companies, no valid basis for
any such allegations exists. 
 (3) The Seller Companies have good and valid title to, and have the right to use and otherwise exploit the
Purchased Business Intellectual Property, and following the Closing, Buyer will have such title and rights in and to, the Purchased Business Intellectual Property in substantially the same manner as used or otherwise exploited by the Seller
Companies in the Business as presently conducted. 
 (4) The Seller Companies have not received any notice or claim challenging the Seller
Companies’ right to use any of the Purchased Business Intellectual Property. No Purchased Business Intellectual Property material to the Business is subject to any outstanding Order against Trican Parent or any of the Seller Companies or
Contract restricting the use, sale or exploitation thereof by the Seller Companies or the Buyer. 
 (5) Trican Parent and the Seller
Companies own all right, title and interest in and to, or otherwise possess valid licenses or other rights to use, all Intellectual Property Rights necessary for the operation of the Business as presently conducted or as was conducted during the
previous 12 months, including, without limitation, the right to use the “Trican” name and trademark in connection with the Business. 

  
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 (6) To the knowledge of Trican Parent and the Seller Companies, the Seller Companies are not
infringing upon, misappropriating or otherwise violating any Intellectual Property Rights of any third party in the conduct of the Business, and there are no unresolved pending or threatened actions or claims that allege that any of the Seller
Companies has infringed, misappropriated or otherwise violated the Intellectual Property Rights of any third party in the conduct of the Business. 

(7) Except as set forth in Section 4.14(a)(7) of the Seller Disclosure Schedules, to the knowledge of Trican Parent and the Seller
Companies, no third party is infringing or otherwise violating the Business Intellectual Property Rights in the Territory, and there are no unresolved pending or threatened actions or claims that challenge or otherwise question the validity of
Business Intellectual Property owned by any of the Seller Companies. 
 (8) The IT Systems to be used to provide services under the
Transition Services Agreement are adequate in all material respects for the current requirements of and use in the Business, including in terms of functionality, capacity and performance. Neither Trican Parent nor the Seller Companies have in the
last twenty-four months experienced a failure, virus or bug in, or breakdown of, any part of the IT Systems which has caused material disruption or interruption to its use by any of the Seller Companies. 

(9) To the knowledge of Trican Parent and the Seller Companies, the use of the Data by the Seller Companies in connection with the Business
does not infringe or violate the rights of any person or otherwise violate any Law. The Seller Companies have taken all reasonable and customary measures consistent with generally accepted industry practices and applicable Laws to collect and
protect the privacy of such Data that pertains to its customers and business partners, and, to the knowledge of Trican Parent and the Seller Companies, there have been no security breaches with respect to such Data or Data loss, including
unauthorized access to or unauthorized use of any nonpublic personal information. 

  
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 4.15. Litigation. Other than the Disclosed Claims and except as set forth in
Section 4.15(a) of the Seller Disclosure Schedule, as of the date hereof, there is no Action pending or, to the knowledge of the Seller Companies, threatened, against the Seller Companies or the Business that involves a claim of $50,000 or more
or is otherwise material to the Business. Except as set forth in Section 4.15(b)of the Seller Disclosure Schedule, none of the Seller Companies or the Business is subject to any Order related to the Business that, individually, or in the
aggregate, has had or would reasonably be expected to be material. Except as disclosed in Section 4.15(c) of the Seller Disclosure Schedule, none of the Seller Companies has received or been the subject of any legal demand letter,
administrative inquiry or formal or informal complaint or legal claim from, or under the jurisdiction of, any Governmental Authority that includes any allegations alleging any material violation of the Law by, or any improper business practice of,
the Seller Companies or otherwise in respect of the Business. 
 4.16. Labor Matters.  

(a) Section 4.16(a) of the Seller Disclosure Schedule contains a true and complete list, as of the date hereof, of all Business
Employees and with respect to each Business Employee, their (i) date of hire; (ii) title; (iii) work location; (iv) annual base salary, wage rate, commission or other compensation paid or due to be paid in calendar years 2014 and
2015; (v) bonus paid or payable, and any contingent or deferred compensation, related to calendar years 2014 and 2015; and (vi) leave status, if any. 

(b) None of the Seller Companies is delinquent in payments to any of the Business Employees for any wages, salaries, commissions, bonuses or
other direct compensation for any services performed for the Seller Companies or amounts required to be reimbursed to such Business Employees. 

(c) Other than Actions included in the Disclosed Claims, as of the date hereof, there are no Actions pending, or to the knowledge of the
Seller Companies, threatened, alleging a breach by the Seller Companies of any employment Contract or a violation of any employment Law with respect to the Business, including but not limited to, all applicable wage and hour, collective bargaining,
safety and health, workers compensation and anti-discrimination Laws. With respect to any of the Business Employees and the Business, there are no (i) pending or, to the knowledge of Trican Parent and the Seller Companies, threatened, nor has
there been during the prior two years any, (A) labor strikes, disputes or grievances, slowdowns, picketing or work stoppages or other similar labor activity, or (B) representation or certification campaigns with respect to the Business
Employees or otherwise affecting the Business, and, to the knowledge of Trican Parent and the Seller Companies, no event has occurred that could reasonably be expected to give rise to any such strike, dispute, grievance, slowdown, picketing, work
stoppage or campaign; (ii) pending or threatened grievance or arbitration proceedings, letter Contracts or settlement Contracts arising out of collective bargaining Contracts to which any of the Seller Companies is a party; or
(iii) pending or threatened unfair labor practice charges, grievances or complaints. 
 (d) No labor union, trade union or similar
organization currently represents any Business Employee and no Seller Company is a party to any labor or collective bargaining agreements which represents Business Employees, and to the knowledge of the Seller Companies, no labor union, trade union,
or similar organization, or any employees of the Seller Companies have taken any action with respect to organizing the Business Employees. 

  
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 (e) Except as set forth in Section 4.16(e) of the Seller Disclosure Schedule, as of the
date hereof, there have not been any plant closings, mass layoffs or other employee terminations by the Seller Companies with respect to the Business that would create any obligations upon or liabilities for the Seller Companies under WARN. 

(f) The independent contractors who provide, or who have provided, services to the Business of the Seller Companies are, or were, properly
classified as independent contractors, and no such independent contractor has or had any right to participate in any Seller Benefit Plan. 

(g) The Seller Companies are in compliance with all applicable requirements of the Immigration Reform and Control Act of 1986, as amended,
including, but not limited to, verifying the identity and employment authorization to work in the United States of all Business Employees and proper administration and maintenance of the Form I-9 with respect to such Business Employees. There are no
Actions pending, or to the knowledge of the Seller Companies threatened, alleging employment of Business Employees not authorized to work in the United States or other violations of immigration law requirements. 

4.17. Employee Benefit Programs.  

(a) Section 4.17(a)(i) of the Seller Disclosure Schedule sets forth a complete and accurate list of the Employee Benefit Plans
maintained, sponsored or contributed to, or for which there is an obligation to contribute to, by an Seller Company or any ERISA Affiliate of a Seller Company on behalf of a Business Employee (“Seller Benefit Plans”). The
terms, establishment and operation of each Seller Benefit Plan comply and have heretofore complied in all material respects with their terms and with all applicable Laws, and each Seller Benefit Plan intended to qualify under Section 401(a) of
the Code has been determined by the IRS to be so qualified, or is maintained pursuant to a valid volume submitter or prototype document, and to the knowledge of Trican Parent and the Seller Companies, no event or omission has occurred which would
reasonably be expected to cause any such Seller Benefit Plan to lose such qualification. None of the Seller Companies nor any ERISA Affiliate of a Seller Company maintains, contributes to, or has any obligation with respect to any Employee Benefit
Plan which has been or could be subject to Title IV of ERISA or Code Section 412, including, but not limited to any “multiemployer plan” (as defined in Section 3(37) or Section 4001(a)(3) of ERISA). 

(b) With respect to each Seller Benefit Plan, the Seller Companies have provided or made available to Buyer prior to the date hereof
(i) each writing constituting a part of such Seller Benefit Plan, including without limitation all plan documents (or, to the extent no such copy exists, an accurate description); (ii) the most recent determination letter from the IRS, if
applicable; and (iii) any summary plan description and any material modifications thereto, and other material written communications (or a description of any oral communications) by the Seller Companies to the Business Employees concerning the
extent of the benefits provided under an Employee Benefit Plan. 

  
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 4.18. Permits; Compliance with Laws. Except as set forth in Section 4.18 of
the Seller Disclosure Schedule, each of the Seller Companies has, in all material respects, for the benefit of the Business, all franchises, authorizations, approvals, Orders, consents, licenses, certificates, permits, registrations, qualifications
or other rights and privileges (collectively, the “Business Permits”) necessary to permit it to own the Owned Business Real Property and to conduct the Business as it is presently conducted and all such Business Permits are
valid and in full force and effect in all material respects. Each of the Seller Companies has been and is currently in compliance with all applicable Laws and Business Permits with respect to the Business and none of the Seller Companies is aware of
any past or current violations of any such Laws or Business Permits with respect to the Business, except for any such non-compliance or violations that, individually, or in the aggregate, have not had and would not reasonably be expected to be
material. None of the Seller Companies has received any notice with respect to the suspension, cancellation or termination of any of such Business Permits or the assessment of any fines or penalties relating thereto, and to the knowledge of the
Seller Companies, no suspension, cancellation or termination of any of such Business Permits or the assessment of any fines or penalties relating thereto is threatened or imminent. 

4.19. Environmental Matters. Except as set forth in Section 4.19 of the Seller Disclosure Schedule: 

(a) each of the Seller Companies has been and is in compliance in all material respects with all applicable Environmental Laws with respect
to the Business, the Owned Business Real Property and the Leased Business Real Property; 
 (b) each of the Seller Companies has obtained
and currently maintains in full force and effect, and is in compliance in all material respects with, all Environmental Permits necessary for operations of the Business; 

(c) there are no Environmental Claims pending or, to the knowledge of the Seller Companies, threatened against the Seller Companies or
otherwise in respect of the Business, the Owned Business Real Properties or the Leased Business Real Properties; 
 (d) to the knowledge of
Trican Parent and the Seller Companies, there are no facts, circumstances, occurrences or conditions that could reasonably be expected to require any of the Seller Companies to obtain any Environmental Permit, nor are there any Environmental Claims
pending or threatened alleging the failure of any Seller Company to comply with any Environmental Law, nor are there any Environmental Liabilities, with respect to the past or present treatment, storage, handling or disposal of Hazardous Materials
and waste materials, including, without limitation, Environmental Permit and notice requirements under the Resource Conservation and Recovery Act, 42 U.S.C. § 6901, et seq., or analogous state law; 

(e) to the knowledge of Trican Parent and the Seller Companies, there have been no Releases, nor are there any threatened Releases of
Hazardous Materials on at, under, above, from or migrating to (i) any of Owned Business Real Property or Leased Business Property, or (ii) any facility that may have received Hazardous Materials generated by the Business or any predecessor
in interest, which in either case would reasonably be expected to result in an Environmental Claim or Environmental Liabilities asserted against, or the imposition of a material Remedial Action obligation on, any of the Seller Companies; 

  
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 (f) There are no Environmental Liabilities existing, nor are any Environmental Liabilities
reasonably expected to be incurred, with respect to the Business, the Owned Business Real Property, or the Leased Business Real Property; 

(g) Except as disclosed on Section 4.19(g) of the Seller Disclosure Schedule, there is not now, nor (to the knowledge of Trican Parent
and the Seller Companies for all periods prior to its ownership, lease or operation of such real property) has there been in the past, on, in or under any Owned Business Real Property or Leased Business Real Property (i) any underground storage
tanks or above ground storage tanks, (ii) any asbestos-containing materials, (iii) any polychlorinated biphenyls or (iv) any radioactive substances; 

(h) No Environmental Law requires notification to or approval from a Governmental Authority as a result of the transactions contemplated by
this Agreement; 
 (i) None of the Seller Companies, nor the Business is subject to any agreement that would reasonably be excepted to
require the a Seller Company to conduct a Remedial Action or require a Seller Company to pay, reimburse, pledge, defend or hold harmless any Regulatory Authority or Person for or against any Environmental Liabilities, Environmental Claim or Remedial
Action; and 
 (j) As of the date hereof, the Seller Companies have made available for review by Buyer all material environmental
assessments, reports and studies related to the Business, the Owned Business Real Property and the Leased Business Real Property that are in the possession or control of the Seller Companies and that have been prepared in the five (5) year
period preceding the date of this Agreement. 

  
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 4.20. Environmental, Health and Safety. There is and have been no EH&S Events
that could (i) negatively impact in any material respect any industry-related safety rating (including by not limited to the Total Recordable Incident Rate) of any of the Seller Companies or the Business, or (ii) negatively impact any of
the Seller Companies’ ability to enter into any Contract with an existing or a prospective customer of the Business, or (iii) result in the termination or suspension of any Purchased Customer Contract.

4.21. Customers and Partners. Section 4.21 of the Seller Disclosure Schedule sets forth the name of each of the top ten
customers of the Business by revenue for the ten months ended as of Recent Financial Statements Date (the “Business Customers”). Since the Recent Financial Statements Date, no Business Customer has (i) canceled or
otherwise terminated its relationship with any of the Seller Companies or otherwise in respect of the Business, (ii) materially decreased its usage or purchase of the services of the Seller Companies or otherwise in respect of the Business or,
(iii) to the knowledge of Trican Parent and the Seller Companies, has any current plan or intention to do any of the foregoing, in each of the foregoing cases, in whole or in part, due to the quality of services provided by any Seller Company
or due to an EH&S Event. 
 4.22. Suppliers. Section 4.22 of the Seller Disclosure Schedule sets forth the name of
each of the top ten current suppliers to the Business by expense for the ten months ended as of Recent Financial Statements Date (the “Business Suppliers”). Since the Recent Financial Statements Date, none of the Business
Suppliers have decreased in any material respect its services, supplies or materials to the Seller Companies or otherwise in respect of the Business or to the knowledge of Trican Parent and the Seller Companies, has any current plan or intention to
do any of the foregoing except in each of the foregoing cases at the request of a Seller Company. To the knowledge of Trican Parent and the Seller Companies, no Business Supplier has any current plan or intention of canceling, modifying, or
otherwise terminating its relationship with any of the Seller Companies or otherwise in respect of the Business. 
 4.23. Insurance
Coverage. Set forth in Section 4.23(a) of the Seller Disclosure Schedule is a list of all material fire, liability, pollution, errors and omissions and other insurance (other than directors and officers insurance) and all fidelity bonds
and other financial assurance applicable to or currently held for the benefit of the Business (the “Business Insurance Policies”), setting forth, in respect of each such policy, the policy name, policy number, carrier, term,
type of coverage, deductibles, coverage limits and amounts of any claims, settlements or commutations. Except as set forth in Section 4.23(b) of the Seller Disclosure Schedule, as of the date hereof, no event relating to the Business or any
Purchased Assets has occurred that would reasonably be expected, individually or in the aggregate, to result in a material retroactive upward adjustment in premiums under any such Business Insurance Policies or which is likely to result in a
prospective material upward adjustment in such premiums, self-insured retentions, deductibles, loss fundings or defense costs. Excluding insurance policies that have expired and been replaced in the ordinary course of business consistent with the
Seller Companies’ past practices, since January 1, 2015, no insurance policy has been canceled and no threat has been made or notice received by the Seller Companies to cancel any insurance policy held for the benefit of the Business
during such period, except as would not reasonably be expected, individually or in the aggregate, to have a Seller Material Adverse Effect. Except as noted in Section 4.23(c) of the Seller Disclosure Schedule, all such Business Insurance
Policies will 

  
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remain in full force and effect after the Closing with respect to periods before the Closing. No event has occurred, including, without limitation, the failure by the Seller Companies to give any
notice or information or the Seller Companies giving any inaccurate or erroneous notice or information, which limits or impairs, in any material respect, the rights of the Seller Companies under any such Business Insurance Policies. 

4.24. Investment Banking; Brokerage. Trican Parent shall be solely responsible for the fees and expenses of any broker, finder
or investment banker entitled to any brokerage, finder’s fee or other fee or commission in connection with the transactions contemplated by this Agreement based upon arrangements made by or on behalf of the Seller Companies. 

4.25. Tax Matters. All Tax Returns that were required to have been filed by the Seller Companies in respect of or in relation to
the Business or the Purchased Assets have been timely filed (taking into account any extensions of time in which to file) and all such Tax Returns were true, correct and complete when filed and remain true, correct and complete. Except for the
Disclosed Claims, the Seller Companies have timely paid, collected or withheld and remitted all Taxes (including, without limitation, sales and use Taxes) required to have been paid, collected or withheld with respect to any Pre-Closing Tax Period.
There are no Encumbrances for Taxes (other than Permitted Encumbrances) upon any of the Purchased Assets. The Seller Companies have not waived any statute of limitations with respect to Taxes or agreed to any extension of time with respect to a Tax
assessment or deficiency with respect to the Business or the Purchased Assets. 
 4.26. Opinion of Financial Advisor. The
board of directors of Trican Parent has received an oral opinion (to be confirmed in writing) from RBC Dominion Securities Inc., to the effect that, as of the date of this Agreement and subject to the assumptions made, information reviewed,
procedures followed, matters considered and limitations and qualifications on the review undertaken, the consideration under the Transaction is fair, from a financial point of view, to Trican Parent. 

4.27. Stay Bonuses. Section 4.27 of the Seller Disclosure Schedule sets forth a complete list of the Business Employees who
are eligible to receive a retention bonus, and the amount thereof, in accordance with the terms of the Stay Bonus Agreement, the form of which is attached hereto as Annex VIII (the “Stay Bonus Agreement” and
such bonuses, the “Stay Bonuses”). 
 SECTION 5. REPRESENTATIONS AND WARRANTIES OF BUYER 

In order to induce Trican Parent and the Seller Companies to enter into this Agreement and to consummate the transactions contemplated by this
Agreement, the Buyer Companies, jointly and severally, make to Trican Parent and the Seller Companies the representations and warranties contained in this Section 5 as of the date hereof and as of the Closing Date (except for
those representations and warranties made as of a specific date, which shall be made only as of such date), which representations and warranties are subject to the qualifications and exceptions set forth in the disclosure schedule delivered to the
Seller Companies prior to the execution of this Agreement (the “Buyer Disclosure Schedule”). Each exception set forth in the Buyer Disclosure Schedule is identified by reference to, or has been grouped under a heading
referring 

  
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to, a specific individual section of this Agreement and shall be deemed to qualify the particular section or sections of Section 5 specified for such item, unless there is an
explicit and reasonably specific cross-reference to another section or sections of Section 5, in which case, such exception shall also be deemed to qualify such other section or sections. References herein to the
“knowledge” or “awareness” of the Buyer Companies shall mean the actual knowledge of James Stewart and Greg Powell, after due inquiry. 

5.1. Organization and Company Power. Each Buyer Company and each Subsidiary of a Buyer Company is a corporation, limited
liability company or partnership, as applicable, duly organized, in good standing and validly existing under the Laws of its respective jurisdiction of incorporation or formation as described in Section 5.1 of the Buyer Disclosure
Schedule, and has all required power and authority under its organizational documents to carry on its business as presently conducted, and, if applicable, to enter into and perform this Agreement and the other Transaction Documents to which it is a
party and to carry out the transactions contemplated hereby and thereby. Each of the Buyer Companies and each Subsidiary of a Buyer Company is duly qualified to do business as a foreign limited liability company in each jurisdiction where such
qualification is required, except where the failure to so qualify would not be material. 
 5.2. Capitalization and Valid
Issuance.  
 (a) Section 5.2 of the Buyer Disclosure Schedule sets forth the issued and outstanding equity or
partnership interests of each Buyer Company and each Subsidiary of a Buyer Company. All of the outstanding equity or partnership interests of each Buyer Company and each Subsidiary of a Buyer Company have been duly authorized and are validly issued,
fully paid and non-assessable. Other than as set forth in this Agreement and as set forth on Section 5.2 of the Buyer Disclosure Schedule, there are no outstanding or authorized options, warrants or other rights of any Person to acquire any
equity securities or partnership interests of, or any equity interests or partnership interests in, any Buyer Company or any Subsidiary of a Buyer Company, or securities or partnership interests exercisable for, or convertible into, equity
securities or partnership interests of, or equity securities or partnership interests in any Buyer Company or any Subsidiary of a Buyer Company. Keane Parent is authorized to issue an unlimited number of Keane Common Equity Units and is authorized
to issue the Class C Profits Interests to be issued pursuant to Section 3.1(c). The Keane Common Equity Units and the Class C Profits Interests, as may be adjusted, when issued and delivered in accordance with the terms in this
Agreement, will, as applicable, be validly issued, fully paid and non-assessable. 
 (b) Keane Parent has delivered to Trican Parent true
and complete copies of the organizational documents of each Buyer Company and each Subsidiary of a Buyer Company, each as amended to date. 

(c) The Buyer Companies have good and valid record and beneficial title to the issued and outstanding shares, membership interests or
partnership interests, as appropriate, in each of their respective Subsidiaries, as described in Section 5.2 of the Buyer Disclosure Schedule (the “Subsidiary Equity Interests”), in each case, free and
clear of any Liens, claims, Taxes, options and restrictions of any kind, other than restrictions on transfers that may be imposed by applicable federal or state securities Laws or in the applicable Buyer

  
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Company’s organizational documents other than as set forth on Section 5.2(c) of the Buyer Disclosure Schedule. Other than this Agreement or as described in
Section 5.2 of the Buyer Disclosure Schedule, the Subsidiary Equity Interests are not subject to any voting agreement or other contract, agreement, arrangement, commitment or understanding, including any such agreement,
arrangement, commitment or understanding restricting or otherwise relating to the voting, dividend rights or disposition of the Subsidiary Equity Interests. The Subsidiary Equity Interests have not been issued in violation of any preemptive rights,
subscription right or any similar right under any provision of local or state Law applicable to such interests, the applicable organizational documents, or any Contract to which any Buyer Company is a party or to which it or any of its assets are
otherwise bound. Except for the Subsidiary Equity Interests, there are no outstanding shares, units or other equity interests in any Subsidiary of the Buyer Companies, or any contractual arrangements giving any Person a right to receive any benefits
or rights similar to the rights enjoyed by or accruing to the holders of any Subsidiary Equity Interests. Other than pursuant to this Agreement, there are no outstanding warrants, options, rights, convertible or exchangeable securities, contractual
arrangements or other commitments pursuant to which any Buyer Company is or may become obligated to issue or sell any capital stock or other equity interests in such Buyer Company, or for the repurchase or redemption of the Subsidiary Equity
Interests, or any contractual arrangements or other commitments of any kind which may obligate any Buyer Company to issue, purchase, register for sale, redeem or otherwise acquire any membership interests or other equity interests in any Buyer
Company. Section 5.2 of the Buyer Disclosure Schedule sets forth the capital stock or other equity interests in each Subsidiary of a Buyer Company. No Buyer Company or any of their Subsidiaries is engaged in or has engaged in any
business in any material respect other than the oil field services business. 
 5.3. Authorization and Non-Contravention. This
Agreement is, and, upon execution and delivery by Keane Parent and Buyer pursuant to the terms hereof, all and the Transaction Documents required to be executed and delivered by Keane Parent and Buyer pursuant hereto at Closing will be, valid and
binding obligations of Buyer and Keane Parent, as applicable, enforceable against it in accordance with their respective terms. The execution, delivery and performance by Keane Parent and Buyer of this Agreement and the other Transaction Documents
executed by Keane Parent and Buyer pursuant hereto have been duly authorized by all necessary action under its governing agreement, as applicable. Except compliance with the applicable requirements of the HSR Act, the execution, delivery and
performance by Keane Parent and Buyer of this Agreement and the other Transaction Documents to be executed and delivered by it pursuant hereto, and the performance by Keane Parent and Buyer of the Transactions, do not and will not: (a) violate
or result in a violation of, conflict with or constitute or result in a violation of or default (whether after the giving of notice, lapse of time or both) or loss of benefit under any provision of any Buyer Company’s or any of its
Subsidiaries’; organizational documents; (b) violate, conflict with or result in a violation of, or constitute a default (whether after the giving of notice, lapse of time or both) under, any provision of any Law or any Order applicable to
any Buyer Company or any of its Subsidiaries; (c) require from any Buyer Company or any of its Subsidiaries any notice to, declaration or filing with, or consent or approval of any Governmental Authority or other Person; or (d) violate or
result in a violation of or conflict with or constitute or result in a violation of or default (whether after the giving of notice, lapse of time or both) under, accelerate any obligation under, or give rise to a right of termination of, any
material Contract or Buyer Permit to which any Buyer Company or any of its Subsidiaries is a party or by which any Buyer Company or any of its 

  
 48 

 
Subsidiaries is bound, other than, in the case of clauses (b), (c) and (d), such violations, conflicts, defaults or encumbrances that would not, individually, or in the aggregate, reasonably
be expected to result in a Buyer Material Adverse Effect. 
 5.4. Financial Statements. 

(a) Set forth on Section 5.4(a) of the Buyer Disclosure Schedule are (i) the consolidated balance sheets and statements of income
and cash flows of Keane Parent and its Subsidiaries (including Buyer) and (ii) income statements for the same entities, in each case in audited form for the fiscal year ended December 31, 2014 and unaudited form as of September 30,
2015 (collectively, the “Buyer Financial Statements”). The Buyer Financial Statements have been, and in the case of the Interim Financial Statements, will be, prepared in accordance with Applicable Accounting Principles and
fairly and in the case of the Interim Financial Statements, will fairly present financial condition and results of operations of the Buyer Companies and their respective Subsidiaries as of the respective dates of and for the periods referred to
therein. 
 (b) Neither the Buyer Companies or any of their Subsidiaries have any Liabilities (whether known or unknown) of the type that
would be required to be disclosed on a balance sheet or notes thereto prepared in accordance with the Applicable Accounting Principles, and there is no existing condition, situation or set of circumstances which is reasonably expected to result in
such Liabilities, except Liabilities (i) reflected or reserved against on the balance sheet included in the September 30, 2015 Buyer Financial Statements; or (ii) incurred after September 30, 2015 in the ordinary course of
business consistent with past practice or as is expressly contemplated by this Agreement. 
 (c) There are no off-balance sheet
arrangements of any type (including any off-balance sheet arrangement required to be disclosed pursuant to Item 303(a)(4) of Regulation S-K promulgated under the Securities Act) pertaining to the Buyer. 

(d) Neither of the Buyer Companies or any of their Subsidiaries nor any director or executive officer thereof has, and to the knowledge of
Buyer and Keane Parent, no other officer, employee or accountant of any of the Buyer Companies or any of their Subsidiaries has, received any material complaint, allegation, assertion or claim, in writing that any of the Buyer Companies or any of
their Subsidiaries has engaged in improper, illegal or fraudulent accounting or auditing practices. Except as provided in Section 5.4(d) of the Buyer Disclosure Schedule, no attorney representing the Buyer Companies or any of their Subsidiaries
has reported evidence of a material violation of securities laws, breach of fiduciary duty or similar material violation by the Buyer Companies or any of their Subsidiaries or any of their respective officers, directors, employees or agents to the
board of directors or any committee thereof or to any director or officer of the Buyer Companies or any of their Subsidiaries. 
 5.5.
Absence of Certain Developments. Since September 30, 2015, there has not been any state of facts, change, development, event, effect, condition or circumstance that has had or would reasonably be expected to have, individually or
in the aggregate, a Buyer Material Adverse Effect. During the period between September 30, 2015 and the date hereof, neither of the Buyer Companies or any of their Subsidiaries has taken any action that has, or could reasonably be expected to,
materially and negatively impact the financial condition of a Buyer Company or any of its Subsidiaries. 

  
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 5.6. Affiliate Transactions. Other than disclosed on Section 5.6
of the Buyer Disclosure Schedule, no director, officer or employee or Affiliate of a Buyer Company or any of their Subsidiaries is a party to any Contract or material transaction with any Buyer Company or any of their Subsidiaries, including any
Contract for any loans, advances, enterprise-level buying or sharing-of-discounts or no-cost-use arrangements, or otherwise requiring payments to or from, any such Person. 

5.7. Properties.  

(a) The applicable Buyer Company has good, valid and marketable title to or, valid and subsisting leasehold or license interests in, free and
clear of all Liens or Encumbrances (except for Permitted Encumbrances) to all Buyer Owned Real Property and Buyer Leased Real Property, as applicable. All Buyer Leased Real Property is held under valid, binding and enforceable leases, subject only
to such exceptions as would not, individually or in the aggregate, reasonably be expected to be material. There is no action pending, or to the knowledge of Keane Parent and the Buyer, threatened, that if adversely determined would interfere, in any
material respect, with the quiet enjoyment by any Buyer Company of any such leasehold or license. 
 (b) With respect to each item of Buyer
Owned Real Property, (i) there are no outstanding claims made by or against any of the Buyer Companies with respect to title or ownership of the Buyer Owned Real Property; (ii) no Governmental Authority or other Person has commenced to
exercise the power of eminent domain or a similar power with respect to all or any part of the Buyer Owned Real Property and there are no pending or threatened, and the Buyer Companies have not received notice of any pending or threatened,
condemnation or eminent domain proceedings that affect any Buyer Owned Real Property; (iii) such Buyer Owned Real Property is in material compliance with all applicable Laws, including, without limitation, zoning ordinances; (iv) there are
no pending or threatened, and the Buyer has not received notice of any pending or threatened, fire, health, safety, building, zoning or other land use regulatory proceedings, lawsuits or administrative actions relating to any portion of the Buyer
Owned Real Property, which if adversely determined could adversely affect the current use, occupancy or value thereof; and (v) none of the Buyer Companies have received notice of any pending or threatened special assessments or special
assessment proceedings affecting any portion of the Buyer Owned Real Property. 
 5.8. Condition of Assets. Except as set
forth in Section 5.8 of the Buyer Disclosure Schedule, and except as would not, individually or in the aggregate, reasonably be expected to be material, all of the assets of the Buyer Companies and each of their Subsidiaries are in good
operating condition and repair, subject to normal wear and maintenance and are usable in the ordinary course of business consistent with past practices. 

5.9. Certain Contracts. Except as set forth in Section 5.9 of the Buyer Disclosure Schedule, none of the Buyer Companies or
any of their Subsidiaries is in breach or default under any material Contract of the Buyer Companies or any of their Subsidiaries and no condition or 

  
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event or fact exists that, with notice, lapse of time or both, could constitute a breach or default thereunder on the part of the Buyer Companies or any of their Subsidiaries under any such
Contract and to the knowledge of the Buyer Companies, no other party is in material breach of or default under any such Contract. 

5.10. Intellectual Property. 

(1) To the knowledge of Keane Parent and the Buyer, the Buyer Companies own all right, title and interest in and to, or otherwise possesses
valid licenses or other rights to use all material Intellectual Property Rights used in the operation of the business as currently conducted. 

(2) To the knowledge of Keane Parent and the Buyer, the Buyer Companies’, including in the conduct of Keane Parent’s, business as
currently conducted does not infringe upon or otherwise violate any Intellectual Property Rights of any third party. 
 (3) To the
knowledge of Keane Parent and the Buyer, no third party is infringing on or otherwise violating the material Intellectual Property Rights of the Buyer or Keane Parent used in the conduct of the Buyer Companies’ business as currently conducted.

 5.11. Litigation. Except as set forth in Section 5.11 of the Buyer Disclosure Schedule, as of the date hereof, there
is no Action pending or, to the knowledge of Keane Parent and the Buyer, threatened against any Buyer Company or any of their Subsidiaries other than Actions that have not had, and would not reasonably be expected to be material. Except as set forth
in Section 5.11 of the Buyer Disclosure Schedule, none of the Buyer Companies or any of their Subsidiaries is subject to any Order that, individually, or in the aggregate, has had or would reasonably be expected to have a Buyer Material Adverse
Effect. Except as disclosed in Section 5.11 of the Buyer Disclosure Schedule, none of the Buyer Companies or any of their Subsidiaries has received or been the subject of any legal demand letter, administrative inquiry or formal or informal
complaint or legal claim from, or under the jurisdiction of, any Governmental Authority that includes any allegations alleging any material violation of the Law by, or any improper business practice of, the Buyer Companies or any of their
Subsidiaries that would reasonably be expected to have a Buyer Material Adverse Effect. 
 5.12. Labor Matters. 

 (a) Except as would not reasonably be expected to have, individually or in the aggregate, a Buyer Material Adverse Effect, there are no
Actions pending, or to the knowledge of Keane Parent and Buyer, threatened, alleging a breach by the Buyer Companies or any of their Subsidiaries of any employment Contract or a violation of any employment Law with respect to any Buyer Employee,
including but not limited to, all applicable wage and hour, collective bargaining, safety and health, workers compensation and anti-discrimination Laws. Except as would not reasonably be expected to have, individually or in the aggregate, a Buyer
Material Adverse Effect, with respect to any of the Buyer Employees or the business of the Buyer Companies and its Subsidiaries, there are no (i) pending or, to the knowledge of Keane Parent and Buyer, threatened, nor has there been during the
prior two years any, (A) labor strikes, disputes or grievances, slowdowns, picketing or work stoppages or other similar labor 

  
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activity, or (B) representation or certification campaigns, and, to the knowledge of Keane Parent and Buyer, no event has occurred that could reasonably be expected to give rise to any such
strike, dispute, grievance, slowdown, picketing, work stoppage or campaign; (ii) pending or threatened grievance or arbitration proceedings, letter Contracts or settlement Contracts arising out of collective bargaining Contracts to which a
Buyer Company or any of their Subsidiaries is a party; or (iii) pending or threatened unfair labor practice charges, grievances or complaints. 

(b) No labor union, trade union or similar organization currently represents any Buyer Employee and no Buyer Company or any of their
Subsidiaries is a party to any labor or collective bargaining agreements which represents Buyer Employees, and to the knowledge of Keane Parent and Buyer, no labor union, trade union, or similar organization, or any employees of the Buyer Companies
or any of their Subsidiaries have taken any action with respect to organizing the Buyer Employees. 
 (c) Except as set forth in
Section 5.12(c) of the Buyer Disclosure Schedule, as of the date hereof, there have not been any plant closings, mass layoffs or other employee terminations by the Buyer Companies or any of their Subsidiaries that would create any material
obligations upon, or material liabilities for, the Buyer Companies or any of their Subsidiaries under WARN. 
 5.13. Employee Benefit
Programs.  
 (a) With respect to each Employee Benefit Plan maintained, sponsored or contributed to by the Buyer
Companies or any of their Subsidiaries, or that the Buyer Companies or any of their Subsidiaries have any obligation to contribute to, or has any present or future liability under, with respect to any present or former employee of the Buyer
Companies or any of their Subsidiaries (“Buyer Benefit Plans”), the terms, establishment and operation thereof comply and have heretofore complied in all respects with their terms and with all applicable Laws except as would
not reasonably have, individually or in the aggregate, a Buyer Material Adverse Effect. 
 (b) Each Buyer Benefit Plan that has been
intended to qualify under Section 401(a) of the Code has been determined by the IRS to be so qualified, or is maintained pursuant to a valid volume submitter or prototype document and to the knowledge of the Buyer Companies, no event or
omission has occurred which would reasonably be expected to cause any Buyer Benefit Plan to lose such qualification. 
 (c) None of the
Buyer Companies nor any ERISA Affiliate of the Buyer Companies sponsors, contributes to, maintains or has any obligation with respect to, or within the past six years has sponsored, contributed to or maintained, any Employee Benefit Plan which has
been or could be subject to Title IV of ERISA or Code Section 412, including, but not limited to, any “multiemployer plan” (as defined in Section 3(37) or Section 4001(a)(3) of ERISA). 

5.14. Permits; Compliance with Laws. Except as set forth in Section 5.14 of the Buyer Disclosure Schedule, and except as
has not had and would not reasonably be expected to have, individually or in the aggregate, a Buyer Material Adverse Effect, the Buyer Companies 

  
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and each of their Subsidiaries have all franchises, authorizations, approvals, Orders, consents, licenses, certificates, permits, registrations, qualifications or other rights and privileges
(collectively, the “Buyer Permits”) necessary to permit it to own the Buyer Owned Real Property and to conduct the business as it is presently conducted and as conducted during the previous 36 months and all such Buyer
Permits are valid and in full force and effect in all material respects. The Buyer Companies and each of their Subsidiaries have been and are currently in compliance with all applicable Laws and Buyer Permits and Keane Parent and the Buyer are not
aware of any past or current violations of any such Laws or Buyer Permits, except for any such non-compliance or violations that, individually, or in the aggregate, have not had and would not reasonably be expected to be material. None of the Buyer
Companies or any of their Subsidiaries have received any notice or other indication with respect to the suspension, cancellation or termination of any of such Buyer Permits or the assessment of any fines or penalties relating thereto, and to the
knowledge of Keane Parent and the Buyer, no suspension, cancellation or termination of any of such Buyer Permits or the assessment of any fines or penalties relating thereto is threatened or imminent. 

5.15. Environmental Matters. Except as set forth in Section 5.15 of the Buyer Disclosure Schedule: 

(a) each of the Buyer Companies and their Subsidiaries has been and is in compliance in all material respects with all applicable
Environmental Laws arising from or related to the Buyer Owned Real Property and the Buyer Leased Real Property; 
 (b) each of the Buyer
Companies and their Subsidiaries has obtained and currently maintains in full force and effect, and is in compliance in all material respects with, all Environmental Permits; 

(c) there are no Environmental Claims pending or, to the knowledge of the Buyer Companies, threatened against the Buyer Companies or any of
their Subsidiaries, the Buyer Owned Real Properties or the Buyer Leased Real Properties; 
 (d) to the knowledge of Keane Parent and the
Buyer, there are no facts, circumstances, occurrences or conditions that could reasonably be expected to require any of the Buyer Companies or any of their Subsidiaries to obtain any Environmental Permit, nor are there any Environmental Claims
pending or threatened alleging the failure of any Buyer Company or its Subsidiaries to comply with any Environmental Law, nor are any Environmental Liabilities, with respect to the past or present treatment, storage, handling or disposal of
Hazardous Materials, including, without limitation, Environmental Permit and notice requirements under the Resource Conservation and Recovery Act, 42 U.S.C. § 6901, et seq., or analogous state law; 

(e) to the knowledge of Keane Parent and the Buyer, there have been no Releases, nor are there any threatened Releases of Hazardous Materials
on at, under, above, from or migrating to (i) any of Buyer Owned Real Property, Buyer Leased Real Property or other Real Property owned, leased or operated, or formerly owned, leased or operated by any Buyer Company, any of its Subsidiaries or
any predecessor in interest, or (ii) any facility that may have received Hazardous Materials generated by any of the Buyer Companies, any of its Subsidiaries or any predecessor in interest, which in either case would reasonably be expected to
result in an Environmental Claim or Environmental Liabilities asserted against, or the imposition of a material Remedial Action obligation on, any of the Buyer Companies or their Subsidiaries; 

  
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 (f) There are no Environmental Liabilities existing, nor are any Environmental Liabilities
reasonably expected to be incurred, with respect to the Buyer Owned Real Property, or the Buyer Leased Real Property; 
 (g) No
Environmental Law requires notification to or approval from a Governmental Authority as a result of the transactions contemplated by this Agreement; and 

(h) None of the Buyer Companies, their Subsidiaries, the Buyer Owned Real Property, nor the Buyer Leased Real Property is subject to any
agreement that would reasonably be expected to require a Buyer Company or any of its Subsidiaries to conduct a Remedial Action or require a Buyer Company or any of its Subsidiaries to pay, reimburse, pledge, defend or hold harmless any Regulatory
Authority or Person for or against any Environmental Liabilities, Environmental Claim or Remedial Action. 
 5.16. Tax
Matters. Except as set forth in Section 5.16 of the Buyer Disclosure Schedule: 
 (a) All Tax Returns that were required to
have been filed by the Buyer Companies and their Subsidiaries have been filed (taking into account any extensions of time in which to file) and all such Tax Returns were true, correct and complete when filed and remain true, correct and complete;
Buyer Companies and their Subsidiaries have timely paid or withheld and remitted all Taxes due with respect to the periods covered by such Tax Returns (whether or not shown as due on a Tax Return); 

(b) There is no claim against the any of the Buyer Companies or any of their Subsidiaries for any material Taxes, and no assessment,
deficiency, or adjustment has been asserted, proposed, or, to the knowledge of any of the Buyer Companies, threatened with respect to any material Taxes of or with respect to the Buyer Companies or any of their Subsidiaries; no Tax audits or
administrative or judicial proceedings are being conducted, pending, or to the knowledge of any of the Buyer Companies, threatened with respect to the Buyer Companies or any of their Subsidiaries; since January 1, 2012, no claim has been made
by an authority in a jurisdiction where a Buyer Company or any of their Subsidiaries does not file a Tax Return that a Buyer Company or any of their Subsidiaries is or may be subject to taxation in that jurisdiction; 

(c) None of the Buyer Companies or any of their Subsidiaries will be required to include any item of income in, or exclude any item of
deduction from, taxable income for any taxable period (or portion thereof) ending after the Closing Date as a result of: (i) an adjustment under either Section 481(a) or Section 482 of the Code (or any corresponding or similar
provision of state, local or foreign Tax law) by reason of a change in method of accounting or otherwise on or prior to the Closing Date for a taxable period ending on or prior to the Closing Date; (ii) a “closing agreement” described
in Code Section 7121 (or any corresponding or similar provision of state, local or foreign Tax law) executed on or prior to the Closing Date; (iii) an installment sale or open transaction disposition made on or prior to the Closing Date;
or (iv) a prepaid amount received on or prior to the Closing Date; and 

  
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 (d) Each Buyer Company and its Subsidiaries is, and has been since its formation, properly
classified as a partnership or as a “disregarded entity” within the meaning of Treasury Regulations Section 301.7701-3(b)(ii) for U.S. federal income tax purposes. 

5.17. Investment Banking; Brokerage. There are no claims, obligations or Liabilities for investment banking fees, brokerage
commissions, broker’s or finder’s fees or similar compensation in connection with the transactions contemplated by this Agreement of Keane Parent or any of its Affiliates with respect to which Trican Parent or the Seller Companies shall be
liable, and neither Keane Parent nor any of its Subsidiaries will owe any such amounts to any of Keane Parent’s Affiliates in connection with the transactions contemplated by this Agreement. 

5.18. Insurance. Set forth on Section 5.18(a) of the Buyer Disclosure Schedule is a list of all material fire, liability,
pollution, errors and omissions, directors and officers, and other insurance and all fidelity bonds and other financial assurance applicable to our currently held for the benefit of the Buyer Companies and their Subsidiaries (the “Buyer
Insurance Policies”). Except as set forth in Section 5.18(b) of the Buyer Disclosure Schedule, as of the date hereof, no event relating to the Buyer Companies or their Subsidiaries has occurred that would reasonably be expected,
individually or in the aggregate, to result in a material retroactive upward adjustment in premiums under any Buyer Insurance Policy or which is likely to result in a prospective material upward adjustment in such premiums, self-insured retentions,
deductibles, loss fundings or defense costs. Excluding insurance policies that have expired and been replaced in the ordinary course of business consistent with past practices, since January 1, 2015, no insurance policy has been canceled and no
threat has been made or notice received by the Buyer Companies or their Subsidiaries to cancel any insurance policy held for the benefit of the Buyer Companies or their Subsidiaries during such period, except as would not reasonably be expected,
individually or in the aggregate, to have a Buyer Material Adverse Effect. No event has occurred, including, without limitation, the failure by the Buyer Companies or their Subsidiaries to give any notice or information or the Buyer Companies or
their Subsidiaries giving any inaccurate or erroneous notice or information, which limits or impairs, in any material respect, the rights of the Buyer Companies or their Subsidiaries under any such Buyer Insurance Policies. 

5.19. Financing. 

(a) Keane Parent has provided Trican Parent with a true and complete copy of: (a) a debt commitment letter (including all annexes,
exhibits, schedules and other attachments thereto), dated as of the date hereof, by and among Buyer, KGH Intermediate Holdco II, LLC and Beal Bank (the “Term Debt Commitment”), (b) a debt commitment letter (including all
annexes, exhibits, schedules and other attachments thereto), dated as of the date hereof, by and among Keane Parent and PNC Bank, National Association (the “Incremental Debt Commitment” and collectively, the “Debt
Financing Commitment”), pursuant to which, upon the terms and subject to the conditions set forth therein the lenders have agreed to lend an incremental $100,000,000 in the aggregate (at least $75,000,000 to be in the form of an
incremental term loan) to Keane Parent and its Subsidiaries (the “Debt Financing”), (c) the Equity Financing Commitment (together with the Debt Financing Commitment, the “Financing Commitments”),
pursuant to which, upon the terms and subject to the conditions set forth therein, Sponsor has committed to invest, directly or indirectly, in Keane Parent $200,000,000 

  
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(the “Equity Financing” and together with the Debt Financing, the “Financing”), and in each case, for the purposes of financing, in the aggregate,
the transactions contemplated by this Agreement and for working capital purposes, and (d) the Limited Guarantee, pursuant to which, upon the terms and subject to the conditions set forth therein, Sponsor has committed to guarantee the payment
of the Tier One Termination Fee and the Tier Two Termination Fee, as applicable, in the event that Keane Parent is obligated to pay the Tier One Termination Fee or the Tier Two Termination Fee pursuant to the terms of this Agreement and fails to do
so in accordance herewith. As of the date hereof, there are no side letters or other written agreements or arrangements, relating (directly or indirectly) to the Financing or the Financing Commitments to which Keane Parent or any of its Affiliates
is a party, other than the Debt Financing Fee Letter (a customarily redacted copy of which has been provided to Trican Parent). As of the date hereof, each of the Financing Commitments is, to Keane Parent’s knowledge, in full force and effect,
and neither of the Financing Commitments has been amended, modified, withdrawn or rescinded in any respect. Each of the Financing Commitments (in the case of the Debt Financing Commitment, assuming due authorization, execution and delivery of the
parties thereto (other than Keane Parent)) is the legal, valid and binding obligation of Keane Parent and, to Keane Parent’s knowledge, of the other parties thereto, in accordance with the terms and conditions thereof, except to the extent that
enforceability may be limited by bankruptcy, insolvency, reorganization or other similar Laws affecting the enforcement of creditors’ rights generally. There are no conditions precedent or other contractual contingencies (directly or
indirectly) related to the funding or investing, as applicable, of the full amount of the Financing at Closing other than the conditions to Closing set forth herein and the conditions expressly set forth in the Financing Commitments. As of the date
hereof, to Keane Parent’s knowledge there is no event that has occurred which, with or without notice, lapse of time or both, would constitute a default or breach on the part of Keane Parent or Sponsor under any term or condition of the
Financing Commitments, and, as of the date hereof, Buyer has no knowledge that any of the conditions to the Financing Commitments will not be satisfied or that the Financing will not be available to Keane Parent at Closing, subject to the
performance by Trican Parent and the Seller Companies of their respective obligations under this Agreement. As of the date hereof, Keane Parent has fully paid or caused to be paid any and all commitment fees and other fees that are required by the
Financing Commitments or the executed fee letters referred to in the Debt Financing Commitment (the “Debt Financing Fee Letters”), that are due and payable pursuant to the terms thereof on or prior to the date of this
Agreement, and Keane Parent will pay or cause to be paid any other commitment fees and other fees that are required to be paid by Keane Parent under the Debt Financing Fee Letters as they become due. 

5.20. No Anticipated Capital Contributions. As of the date hereof, the Buyer Companies are not aware of any transaction or
series of related transactions, outside of the ordinary course of business, whether actual or, as of the date hereof, contemplated, that would be reasonably expected to result in any of the members of Keane Parent being obligated to make a capital
contribution, in any material amount, to Keane Parent, following Closing. 
 SECTION 6. COVENANTS 

6.1. Interim Operations of the Business. Except as may be consented to in writing by Keane Parent, or except as specifically
contemplated by this Agreement, Trican Parent and each of the Seller Companies hereby covenants to Keane Parent and Buyer that, 

  
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during the period commencing on the date of this Agreement and ending on the earlier to occur of (a) the Closing Date or (b) the termination of this Agreement in accordance with
Section 8 below (the “Interim Period”), the Seller Companies shall (i) conduct the Business and operate and maintain the Purchased Assets in the ordinary course of business consistent with the Seller
Companies’ past practices and in anticipation of future business prospects (including, without limitation, maintaining sufficient inventory and supply levels) and (ii) without limiting the generality of the foregoing, during the Interim
Period, the Seller Companies shall: 
 (a) use commercially reasonable efforts to preserve intact the goodwill of the Business and the
relationships of Seller Companies with its customers, vendors, suppliers, employees and others having business relations with the Business; 

(b) maintain the Books, Records and Files of the Seller Companies and its Affiliates related to the Business in proper order; 

(c) continue to make all necessary and material filings and payments with Governmental Authorities in connection with the Business (including
all Registered IP) in a timely manner, and use commercially reasonable efforts to maintain in effect all Business Permits, including export and import licenses and other material approvals required for the ongoing operation of the Business as
presently conducted; 
 (d) maintain their currently operating equipment in good working order; 

(e) maintain Unutilized Equipment in accordance with the Seller Companies’ Equipment Preservation Program described on Annex VI
hereto; 
 (f) pay the accounts payable of the Business in the ordinary course consistent with past practice; or 

(g) not, in each case, with respect to the Business (other than with respect to actions or matters related to the Excluded Businesses), any
Purchased Asset or any Assumed Liability without the written consent of Keane Parent (which consent in the case of clauses (vi) and (viii) below will not be unreasonably conditioned, delayed or withheld): 

(i) notwithstanding Section 6.1, transfer, convey or otherwise dispose of inventory or supply, including sand, except in
the ordinary course of business; 
 (ii) sell, transfer, assign, convey, license (as licensor), lease (as lessor) or otherwise dispose of
or subject to Encumbrances (other than Permitted Encumbrances), directly or indirectly, any assets constituting any Purchased Assets, other than the sale of services or inventory in the ordinary course of business consistent with the Seller
Companies’ past practice; 
 (iii) acquire, directly or indirectly (by merger, exchange, consolidation or acquisition of stock or
assets or otherwise) or enter any new line of business, any other Person or a material portion of the assets of any other Person, in each case, if such Person or such assets or line of business, as applicable, as of the Closing would constitute
Purchased Assets; 

  
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 (iv) amend or modify any, or enter into a new, Stay Bonus Agreement, increase or accelerate the
payment of any Business Employee other than in the ordinary course of business, consistent with the Seller Companies’ past practice or grant any severance or termination pay to any Business Employee (except in accordance with past severance
practice); 
 (v) (A) announce or effectuate any actual, contingent or potential reduction in force or other group termination,
(B) announce or effectuate any actual, contingent or potential “plant closing” or “mass layoff,” as those terms are defined under WARN, or (C) distribute notices under, or in contemplation of, WARN, contingent or
otherwise; 
 (vi) (A) amend or modify any Material Contract, other than amendments or modifications not adverse in any material
respect to the Business or Buyer’s interest in the Purchased Assets or Assumed Liabilities, taken as a whole; (B) voluntarily terminate any Material Contract that has not expired in accordance with its terms; or (C) enter into any
Material Contract (or make any bid which, if accepted, would result in a Material Contract); 
 (vii) terminate the coverage of any
Business Insurance Policy, except where such terminated coverage is replaced by comparable coverage; 
 (viii) pay, release, discharge,
settle, compromise or satisfy any Disclosed Claim (A) with a value exceeding $250,000; (B) that would reasonably be expected to adversely affect in any material respect the relationship of any customer or vendor of the Business; or
(C) that would reasonably be expected to adversely affect in any material respect the operation of the Business after the Closing; 

(ix) make any changes to its accounting principles or practices to the extent applicable to the Business, other than as may be required by
current change in the Applicable Accounting Principles or Law; 
 (x) commit to make any capital expenditure or other purchase of any
property, plant, equipment or improvement thereof in excess of $125,000 over the 12-month period following the date hereof, or $500,000 in the aggregate; 

(xi) enter into any Affiliate Transaction, except (i) in the ordinary course of business consistent with the Seller Companies’ past
practice, (ii) with the prior written consent of Keane Parent and which is reasonably necessary to complete the Transaction, or (iii) for the effectuation of the pre-Closing reorganization of Trican U.S. described on Annex
VII hereto; provided that in the case of clause (iii), concurrently with the effectuation of such pre-closing reorganization, Trican U.S. will deliver to Keane Parent the written consent, in a form reasonably satisfactory to Keane
Parent, of the “New LLC” (as defined in Annex VII hereto) approving the Transaction; or 
 (xii) agree in writing
to take any of the foregoing actions. 

  
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 6.2. Interim Operations of Keane Parent. Except as may be consented to in writing
by Trican Parent or except as specifically contemplated by this Agreement, the Buyer Companies hereby covenant that, during the Interim Period, they shall, and Keane Parent shall cause its Affiliates to, conduct their business only in the ordinary
course of business consistent with past practices, and in addition, the Buyer Companies covenant that during the Interim Period neither of them or any of their Subsidiaries will, except to the extent necessary in connection with the Financing or as
contemplated by this Agreement: 
 (a) amend any of its organizational documents; 

(b) declare, set aside for payment or pay any dividend or other distribution; 

(c) mortgage, pledge, grant a security interest in or otherwise create an Encumbrance (except for Permitted Encumbrances) on any of its
property or assets, or give or become party to or be bound by any guarantee, surety or indemnity, except in the ordinary course of business; or 

(d) cancel or waive any Indebtedness. 

6.3. Access; Confidentiality. During the Interim Period, Trican Parent and each of the Seller Companies shall (i) provide
Keane Parent and its Representatives with reasonable access to all Business Employees, personnel, agents, Affiliates, Purchased Assets, Contracts, facilities, financial statements and other financial, tax or accounting information, Books, Records
and Files, operating instructions and procedures, Tax Returns, and all other information of each of the Seller Companies in respect of the Business to the extent in their respective possession or control so as to afford Keane Parent full opportunity
to make such review, examination and investigation of the Business as Keane Parent may desire to make, including without limitation an environmental evaluation of the of the real estate of the Business and inspection of equipment (including the
Unutilized Equipment), (ii) permit Keane Parent and its Representatives to make such copies and inspections thereof as may reasonably be requested, and (iii) cause the officers of the Seller Companies to furnish Keane Parent and its
Representatives with such financial and operating data and other information with respect to the Business and properties of the Seller Companies as Keane Parent and its Representatives may from time to time reasonably request; provided that
(x) any such access shall be conducted at reasonable times and in such a manner as to not interfere with the normal operation of the business of the Seller Companies or Trican Parent and (y) Trican Parent, on the advice of outside legal
counsel, may reasonably restrict such access to the extent reasonably necessary to comply with any applicable Competition Law. At Closing, and upon request by Keane Parent from and after Closing, Trican Parent and each of the Seller Companies shall
provide Keane Parent and its Representatives with copies of any Books, Records and Files that the Seller Companies are required by Law to retain in their possession. 

6.4. S-X Compliance. Trican Parent recognizes that the ability of Keane Parent to be able to effectuate an initial public
offering is a material inducement to enter into this Transaction. Accordingly, from and after Closing, Trican Parent shall, at its sole cost and expense, for the purpose of assisting Keane Parent in the preparation of audited financial statements of
the Business (prepared on a pro forma basis to include, on a consolidated and 

  
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consolidating basis, the combined operations of Buyer and the Business) for each of the three fiscal years immediately preceding the Closing (and for any other periods up to and including
Closing), (i) provide Keane Parent and its Representatives with any information, reasonably requested, with respect to any Trican Parent charges, balances or accounts or any other intercompany charges, balances or accounts, including with
respect to any other Affiliate of Trican Parent; (ii) provide Keane Parent and its Representatives with access to its employees (including without limitation, financial and accounting staff), outside accountants, financial statements and other
financial, tax or accounting information, Books, Records and Files, Tax Returns, and all other information in its possession or control related to the Business; (iii) permit Keane Parent and its Representatives to make such copies and
inspections thereof as may reasonably be requested; and (iv) make such financial and internal and external accounting personnel reasonably available to Keane Parent and its Representatives to discuss any of the foregoing; provided that
any such access shall be conducted at reasonable times and in such a manner as to not interfere with the normal operation of the business of Trican Parent or the Seller Companies. Prior to Closing, Trican Parent shall provide, or cause to be
provided, to Keane Parent with information reasonably requested by Keane Parent , including Contracts and other information related to (i) with respect to Trican Parent and the Seller Companies, any intercompany transactions and arrangements
(and relevant accounting re: same), (ii) assets and liabilities of Trican Parent and any of its Subsidiaries allocated for accounting purposes to the Business or the Seller Companies, (iii) any equity or stock based compensation
arrangements for employees of the Business, in each case for the three fiscal years immediately preceding the Closing and for any reporting periods up to and including Closing) and Trican Parent will also make internal and external personnel with
knowledge of, or associated with, the foregoing transactions available to discuss any of the foregoing. 
 6.5. Interim Business
Financial Statements. From the date hereof to the Closing, Trican Parent will make available to Keane Parent, within 30 days of the end of the applicable monthly accounting period for the Business, monthly unaudited balance sheets and
related statements of income of the Business for each such monthly accounting periods and, within 45 days after the end of the quarterly accounting period for each of the four fiscal quarters of the Business, quarterly unaudited balance sheets and
related statements of income of the Business for such quarterly accounting periods and, within 75 days of the end of the annual accounting period of the Business, annual unaudited balance sheets and related statements of income of the Business for
such annual accounting period (collectively, the “Interim Business Financial Statements”). The Interim Business Financial Statements shall be prepared in a manner consistent in all material respects with the Business
Financial Statements previously provided to Keane Parent. 
 6.6. Interim Financial Statements. From the date hereof to the
Closing, Keane Parent will make available to Trican Parent, within 45 days of the end of the applicable quarterly accounting period for each of the four fiscal quarters the Buyer Companies, quarterly unaudited balance sheets and related statements
of income of the Buyer Companies and their Subsidiaries for such quarterly accounting periods and, within 75 days of the end of the annual accounting period of the Buyer Companies, annual unaudited balance sheets and related statements of income for
such annual accounting period (collectively, the “Interim Financial Statements”). The Interim Financial Statements shall be prepared in a manner consistent in all material respects with the Financial Statements previously
provided to Trican Parent and Seller Companies. 

  
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 6.7. Trican Parent Regulatory Filings. If Trican Parent is required to file a
business acquisition report or other regulatory filing in accordance with applicable Canadian securities Laws with respect to the transactions contemplated hereby, Keane Parent will, on a timely basis in order for Trican Parent to prepare its
required regulatory filings in Canada in compliance with the filing deadlines under such Laws, and at the sole cost and expense of Trican Parent, provide to Trican Parent and Trican U.S., as applicable, such financial and operating information
regarding Keane Parent as Trican Parent reasonably requires to fulfil its regulatory filing requirements under such applicable Laws, and shall instruct the auditor of Keane Parent to cooperate with, and provide assistance to, Trican Parent and
Trican U.S. to the extent reasonably required in the preparation of Trican Parent’s regulatory filings. 
 6.8. Regulatory and
Other Authorizations; Notices and Consents. 
 (a) Each of Trican Parent and Keane Parent shall use its commercially reasonable
efforts to obtain promptly all Consents of all Governmental Authorities that may be or become necessary for the performance of its and the other Party’s obligations pursuant to, and the consummation of the transactions contemplated by, the
Transaction Documents, including, without limitation, Consents that may be required under the HSR Act or other Competition Law. Trican Parent and Keane Parent shall cooperate with one another in promptly seeking to obtain all such Consents. If any
objections are asserted with respect to the transactions contemplated hereby under any Competition Law or if any suit or proceeding is instituted or threatened by any Governmental Authority or any private party challenging any of the transactions
contemplated hereby as violative of any Competition Law, each of Keane Parent and Trican Parent shall use its commercially reasonable efforts to promptly resolve such objections. Notwithstanding anything to the contrary in this
Section 6.8, except as otherwise may be mutually agreed to by the Parties, nothing in this Agreement shall require or obligate Keane Parent or any of its Affiliates to, and Trican Parent shall not and shall not permit their
Subsidiaries to, without the prior written consent of Keane Parent, agree or otherwise be required to sell, divest, dispose of, license, hold separate, or take or commit to take any action that limits in any respect its freedom of action after the
Closing with respect to, or its ability to retain after the Closing, any businesses, products, rights, services, licenses, or assets of the Buyer Companies, Seller Companies or any of their respective Affiliates, as applicable. In furtherance and
not in limitation of the foregoing, to the extent required by applicable Competition Law, each party hereto agrees to make an appropriate filing of a HSR Act Notification with respect to the transactions contemplated hereby (which filing shall
request early termination of the waiting period under the HSR Act) as promptly as practicable and in any event within ten Business Days from the date hereof, or such other time as mutually agreed to by the Parties, and to supply as promptly as
practicable any additional information and documentary material that may be requested pursuant to the HSR Act and use its commercially reasonable efforts to take, or cause to be taken, all other actions consistent with this
Section 6.8 necessary to cause the expiration or termination of the applicable waiting periods under the HSR Act (including any extensions thereof) as soon as practicable. Filing fees with respect to such filing and notifications
shall be borne by Keane Parent. 
 (b) Each Party shall promptly notify the other Party of any communication it or any of its Affiliates
receives from any Governmental Authority relating to the matters that are the subject of this Agreement and permit the other Party to review in advance any proposed communication by such Party to any Governmental Authority relating to the matters
that are the 

  
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subject of this Agreement. No Party shall agree to participate in any meeting with any Governmental Authority in respect of any filings, investigation or other inquiry related to the transactions
contemplated by this Agreement (including any proceedings under or relating to the HSR Act or other Competition Law) unless it consults with the other Party in advance and, to the extent permitted by such Governmental Authority, gives the other
Party the opportunity to attend and participate at such meeting. The Parties shall coordinate and cooperate fully with each other in exchanging such information and providing such assistance as the other Party may reasonably request in connection
with the foregoing. Where appropriate, due to competition or commercial reasons or otherwise, a Party may limit such disclosure solely to the other Parties’ external legal counsel. 

(c) Buyer and Keane Parent shall have the primary responsibility for securing the transfer, reissuance or procurement of the Business Permits
set forth on Schedule 2.1(h) of the Seller Disclosure Schedule effective as of the Closing Date. Seller Companies shall, and Trican Parent shall cause Seller Companies to, cooperate with Keane Parent’s and Buyer’s efforts in this regard,
assist in any transfer or reissuance of such Permits held by the Seller Companies or the procurement of any other such Business Permits when so requested by Keane Parent and use its commercially reasonable efforts to ensure that all such Business
Permits are available to Keane Parent and Buyer without a disruption to the Business. Seller’s commercially reasonable efforts shall include, but not be limited to, providing copies of all such Business Permits to Buyer, providing Keane Parent
and Buyer with all information it requires about unshipped balances and other terms and conditions of and compliance with such Business Permits, and engaging with Governmental Authorities with or as required by Keane Parent and Buyer to secure the
transfer or reissuance of the Business Permits to Buyer. 
 6.9. Third Party Consents. Prior to Closing, Trican Parent and the
Seller Companies shall use commercially reasonable efforts to obtain the Consents set forth on Sections 4.2 and 4.5 of the Seller Disclosure Schedule in a form reasonably satisfactory to Keane Parent. 

6.10. Efforts and Actions. 

(a) Each of Trican Parent and the Seller Companies, on the one hand, and Keane Parent and Buyer, on the other hand, shall, from time to time
and without further consideration, either before or after the Closing, execute such further instruments and take such other actions as any other party hereto shall reasonably request in order to fulfill its obligations under any of the Transaction
Documents, to effectuate the purposes of the Transaction Documents, including, if required by a landlord, the delivery by Keane Parent of a customary guarantee to the extent required in connection with the assignment of any Leased Business Real
Property to a designated Affiliate of Keane Parent. 
 (b) During the Interim Period, each Party shall use its commercially reasonable
efforts to satisfy (or cause the satisfaction of), to the extent within its reasonable control or influence, the conditions precedent to the consummation of the Transaction as soon as practicable and to take, or cause to be taken, all other action
and to do, or cause to be done, all other things necessary, proper or advisable under applicable Laws to complete the Transaction, including using commercially reasonable efforts to cooperate with the other Parties in connection

  
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with the performance by the other Parties of their obligations under this Section 6.10, including, without limitation, continuing to provide reasonable access to information
and to maintain ongoing communications as between Representatives of the Parties and, in the case of the Buyer Companies, taking all steps within their reasonable control to ensure that the Financing occurs on or prior to Closing. During the Interim
Period, the Buyer Companies shall (i) negotiate in good faith with the applicable counterparty or counterparties the final terms and conditions of the Financings and (ii) not knowingly breach, waive a material right in respect of or
otherwise, to the extent within the Buyer Companies’ or their Affiliate’s control, fail to maintain in force and effect the Financing Commitments or if executed prior to Closing, the definitive agreements for the Financings; provided that
the Buyer Companies will not, and shall not, be required to bring any Action for specific performance against the Sponsor or any lenders in connection with the Financing. 

(c) During the Interim Period, Trican Parent shall promptly notify Keane Parent, and Keane Parent shall promptly notify Trican Parent, of any
Actions that are threatened or commenced against any of the Seller Companies or the Buyer Companies, as applicable or any of their respective Representative thereof relating to the Business or Buyer Companies, as applicable, or the consummation of
the transactions contemplated by this Agreement. 
 (d) Trican Parent shall take all actions necessary to cause the Seller Companies to
fulfill their obligations under Sections 3.4, 3.6(d), 6.1, 6.9 or 6.16. 

6.11. Exclusivity. During the Interim Period, none of the Seller Companies will, directly or indirectly, through
any Affiliate or Representative or otherwise, continue, solicit, entertain, initiate or participate in or encourage discussions or negotiations with, or the submission of bids, offers or proposals by, any Person with respect to, whether directly or
indirectly, an acquisition (by asset purchase, stock purchase, merger, combination or similar transaction) specifically in respect of the Business or any Purchased Assets, or enter into any Contract, arrangement or understanding regarding any of the
foregoing or that may reasonably be expected to lead to any of the foregoing and Trican Parent shall notify Keane Parent immediately if any such bids, offers or proposals are received, or any such negotiations or discussions are sought and, if
represented, the material terms thereof. In addition, during the Interim Period, except as required by applicable Law, none of the Seller Companies will, directly or indirectly, through any Affiliate or Representative or otherwise disclose any
information not customarily disclosed to any Person (other than Keane Parent and Buyer) concerning the Business or afford to any such other Person access to the Business Employees, personnel, Purchased Assets, Books, Records and Files in respect of
the Business, or other information specifically in respect of the Business without the prior written consent of Keane Parent. For certainty, nothing in this Section 6.11 will prohibit Trican Parent from continuing, soliciting,
entertaining, initiating or participating in or encouraging discussions or negotiations with, or the submission of bids, offers or proposals by, any Person with respect to Trican Parent, its Affiliates (including the Seller Companies), the Excluded
Business or any other portion of Trican Parent’s or the Seller Companies’ respective business that is not specifically in respect of the Business or the Purchased Assets so long as such continuation, solicitation, entertainment, initiation
or participation in or encouragement of discussions or negotiations with, or the submission of such bids, offers or proposals do not, and could not reasonably be determined to, interfere with, hinder 

  
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or have an adverse effect on the Transaction or any transaction contemplated hereby (including the Buyer Companies rights under the Intellectual Property License Agreements); provided
that, notwithstanding the foregoing, in no event shall Trican Parent or any of its Affiliates (including the Seller Companies) enter into any agreement or any transaction with any Person the consummation of which would result in the requirement of
the approval of the Transaction by Trican Parent shareholders. 
 6.12. Notice of Certain Events. (a) Each of Trican
Parent (on behalf of itself and the Seller Companies) and Keane Parent (on behalf of itself and Buyer) shall give prompt written notice to the other Party hereto of (i) the occurrence or nonoccurrence of any event causing any representation or
warranty of the applicable Party contained in this Agreement to be untrue or inaccurate in any respect on or as of any date prior to the Closing Date, (ii) any failure of such party to comply with or satisfy any covenant, condition or agreement
to be complied with or satisfied by it hereunder, and (b) Trican Parent (on behalf of itself and the Seller Companies) shall give prompt written notice to Keane Parent of (x) any Action brought against (directly or indirectly) the Seller
Companies or the Business; (y) the occurrence of any EH&S Event with respect to the Business; or (z) any assertion by any third party that its Consent is required in connection with the consummation of the Transaction; provided,
however, in each case, that the delivery of any notice pursuant to this Section 6.12 or a Party’s knowledge of the facts or events described in clauses (a) and (b) above with respect to another Party shall
not serve to cure such breach or non-compliance or limit or otherwise affect the remedies available hereunder to the party receiving such notice or having such knowledge. In addition, each of Trican Parent and Keane Parent shall give notice to the
other Parties hereto of the occurrence after the date hereof or the non-occurrence after the date hereof of any event that could reasonably be expected to prevent the satisfaction of any of their respective conditions set forth in
Section 7 of this Agreement. 
 6.13. Publicity. Prior to the Closing, no Party will issue or cause the
publication of any press release or other public announcement or public statement with respect to this Agreement and the Transaction Documents without the prior consent of the other party; provided, however, that nothing herein will
prohibit any party from issuing or causing publication of any such press release or public announcement to the extent that such party reasonably determines such action to be required by Law, in which event the party making such determination will
use commercially reasonable efforts to allow the other party reasonable time to comment on such release or announcement, and reasonably accept any comments so provided, in advance of its issuance. 

6.14. Employee Matters. 

(a) Immediately following execution of this Agreement, Trican Parent and Seller Companies shall, subject to the restrictions in
Section 6.3, provide Buyer Companies access to the Business Employees for the purposes of discussing employment with Buyer or one of its Affiliates. Buyer shall, or Keane Parent shall cause Buyer or one of its Affiliates to,
promptly engage in such discussions and make written offers of employment as promptly as practicable after the date hereof and in all cases no later than 45 days after the date of this Agreement with such offers to be effective concurrently with the
time of Closing, but subject to the Closing having occurred. Buyer shall designate in writing the Business Employees to whom 

  
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Buyer or one of its Affiliates will make an offer of employment to Trican Parent as promptly as practicable after the date hereof and in all cases no later than 45 days after the date of this
Agreement (the “Designated Employees”). Such offers of employment to the Designated Employees shall be made in a manner that complies with applicable Law (including anti-discrimination Laws) and shall include offers of
compensation and employee benefits that are comparable to the compensation and employee benefits provided to similarly situated employees of the Buyer Companies. Designated Employees who accept such offer of employment, as of the effective date of
their employment with Buyer or one of its Affiliates, shall be referred to as the “Transferred Employees”. Subject to the consummation of the Transaction, with respect to any Business Employee who is not a Designated Employee
and whose employment is involuntarily terminated in connection with the Transaction (“Excluded Employees”), Keane Parent shall, or shall cause Buyer to, following receipt of a written claim from Trican Parent, promptly
reimburse Trican Parent, on behalf of the Seller Companies, for the following (the “Termination Obligations”): 

(1) the cost of any severance benefits or salary and benefit continuance (excluding Accrued Employee Obligations) paid or provided to an
Excluded Employee in connection with the Excluded Employee’s involuntary termination of employment from the Seller Companies (other than due to an involuntary termination of employment for cause) that (i) (x) are paid or provided in
an amount and manner consistent with the past practices of the Seller Companies, and (y) is conditioned on the Excluded Employee’s timely delivery to the Seller Companies of a customary release and waiver of all claims against Seller
Companies, the Buyer Companies and their respective current and former officers, directors, managers, partners, shareholders, employees, agents and Affiliates, in such form that is reasonably approved by Buyer, or (ii) are required by WARN; and

 (2) the cost to the Seller Companies of offering continuation coverage under COBRA to the Excluded Employees and their beneficiaries in
excess of the COBRA Aggregate Premium Amount. 
 Notwithstanding the foregoing, the maximum aggregate cost of the Termination Obligations
to Buyer shall not to exceed $3,500,000 (the “Termination Cap”). For the avoidance of doubt, the Termination Obligations shall not include any obligations to pay severance to any Business Employee who was offered, but did not
accept, employment by Buyer or one of its Affiliates, which obligations shall be the sole obligation of Trican Parent or the Seller Companies. 

(b) Effective on and after the Closing, the Seller Companies shall (i) continue to offer COBRA continuation coverage to any M&A
Qualified Beneficiaries who are not Transferred Employees (or their beneficiaries) so long as the Seller Companies or their ERISA Affiliates maintain one or more group health plans; and (ii) retain, and hold Buyer Companies and their Affiliates
harmless for, all Liability and obligations for (A) any Termination Obligations in excess of the Termination Cap, (B) M&A Qualified Beneficiaries who are neither Transferred Employees nor Excluded Employees (and their beneficiaries),
and (C) any Liability for severance benefits to any Business Employees who as of Closing are neither Transferred Employees nor Excluded Employees (collectively, the “Seller Termination Obligations”). 

  
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 (c) Trican U.S. shall provide Keane Parent written notice of the aggregate amount of all Stay
Bonuses actually paid under the Stay Bonus Agreements (such amount, the “Final Stay Bonus Amount”), and subject to the occurrence of the Closing, Keane Parent shall promptly reimburse, or cause Buyer to reimburse, Trican U.S.
for fifty percent (50%) of the Final Stay Bonus Amount up to a maximum total amount of $475,000 (the “Stay Bonus Obligation”). The amount of any Stay Bonuses and any other Liabilities under the Stay Bonus Agreements in
excess of the Stay Bonus Obligation shall be a Liability of, and borne exclusively by, Trican Parent and Trican U.S. 
 (d) No provision in
this Section 6.14 shall (i) create any third party beneficiary or other rights in any Business Employee (or their beneficiaries), including any Transferred Employee, or any other Person other than the Parties and their
respective successors and permitted assigns, (ii) constitute a guarantee of employment or continued employment for any Business Employee, including any Transferred Employee, (iii) restrict the rights of Buyer or any of its Affiliates to
terminate the employment of any Person, including any Transferred Employee or (iv) constitute or be deemed to constitute an amendment to any Seller Benefit Plan or Buyer Benefit Plan. 

6.15. Financing Cooperation.  

(a) Prior to Closing, Trican Parent and Seller Companies will use commercially reasonable efforts to cause their respective Affiliates and
Representatives to, provide to Keane Parent, upon reasonable notice and on a timely basis, such cooperation as may be reasonably requested by Keane Parent and its Financing Sources to assist Keane Parent in causing the conditions described in the
Debt Financing Commitment that relate to any information about the Business to be satisfied and all other commercially reasonable cooperation as is reasonably requested by Keane Parent or its Financing Sources in connection with obtaining, arranging
and consummating the Debt Financing in accordance with its terms, including cooperation that consists of: 
 (1) providing Keane Parent as
promptly as reasonably practicable with such financial and other information regarding the Business as may be necessary or advisable in connection with the Debt Financing or as otherwise reasonably requested by Keane Parent in connection therewith,
including furnishing Keane Parent and its Financing Sources as promptly as reasonably practicable with such required information; 
 (2)
furnishing Keane Parent promptly with all documentation and other information regarding the Business as reasonably requested by Keane Parent in connection with such Debt Financing, including under applicable “know your customer” and
anti-money laundering rules and regulations; 
 (3) making senior management Representatives of the Seller Companies available to:
(i) assist the Financing Sources; (ii) participate in meetings, presentations, marketing and due diligence sessions and other sessions with prospective lenders in connection with the Debt Financing to the extent reasonably requested by
such prospective lenders or Buyer; and (iii) assist with the preparation of materials for bank information memoranda and similar documents required in connection with the arranging, obtaining and

  
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consummation of the Debt Financing, which includes the consent to the reasonable use of each of the Business’s logos in connection with the Debt Financing (and will, upon request of Buyer,
provide Buyer with electronic versions of such logos for such use); and 
 (4) assisting in (i) obtaining subordination and
non-disturbance agreements, landlord waivers, collateral access agreements, consents and other customary agreements from any landlord, (ii) the evaluation by the Financing Source of the cash management systems to be used in the conduct of the
Business and obtaining deposit and securities account control agreements from banks, securities intermediary or other financial institutions, (iii) procuring information required by a Financing Source related to certificates of title of the
Business, (iv) obtaining appraisals, assessments or other evaluations of the Purchased Assets, (v) obtaining the execution and delivery of any other customary credit documentation and certificates or other documents or backup therefor and
for legal opinions, in each case, as may be reasonably requested and (vi) retitling of vehicles; 
 provided, however, that
notwithstanding anything in this Agreement to the contrary: (i) neither the Seller Companies, nor any of its Representatives or Affiliates will be required to execute or enter into any certificate, instrument, Contract or other document in
connection with the Debt Financing, including any solvency certificate (but may require delivery in escrow of the signatures of certain officers of the Business who will continue with the Business after Closing so long as such signatures are not
effective prior to Closing); (ii) nothing herein will require any actions or efforts on the part of Seller Companies or any of their respective Affiliates or Representatives in connection with the Debt Financing to the extent it would interfere
unreasonably with the business or operations of the Business; (iii) neither Trican Parent, the Seller Companies, any Affiliates of Trican Parent or the Seller Companies, nor any Representatives of any of the foregoing will be required to pay
any commitment or other similar fee or incur any other Liability or to enter into any Contracts (including creation or perfection of any security interests or liens or pledge of any collateral) in connection with the Debt Financing; and
(iv) nothing herein will require the Seller Companies to adopt resolutions approving the Debt Financing or otherwise approving the Contracts, documents or instruments pursuant to which the Debt Financing is made. 

(b) Notwithstanding anything herein to the (b) contrary, Keane Parent shall, or shall cause Buyer to, promptly, upon request by Trican
Parent, reimburse Trican Parent or the Seller Companies, as applicable, for all reasonable and documented out-of-pocket costs and expenses (including reasonable attorneys’ fees) and Liabilities incurred by Trican Parent, the Seller Companies,
any Affiliates of Trican Parent or the Seller Companies, or any Representatives of the foregoing in connection with their cooperation contemplated by this Section 6.15. 

(c) Notwithstanding anything herein to the contrary, Keane Parent shall indemnify and hold harmless Trican Parent, the Seller Companies, any
Affiliates of Trican Parent or the Seller Companies, and any Representatives of the foregoing from and against any and all Liabilities, losses, damages, claims, costs or expenses suffered or incurred by any of them in connection with the Debt
Financing, in each case other than to the extent any of the foregoing arises from the inaccurate information provided by Trican Parent, the Seller Companies or any of their Affiliates, the bad faith, gross negligence or willful misconduct of, or
material breach of this Agreement by, Trican Parent, the Seller Companies, any Affiliates of Trican Parent or the Seller Companies, or any Representatives of the foregoing. 

  
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 6.16. Litigation Defense; Disclosed Obligations. The Parties agree that, from and
after the Closing, (a) Keane Parent shall control the defense of the Disclosed Claims set forth on Annex V-a hereto (although Trican Parent will have reasonable information and consultation rights in connection therewith) and
(b) Trican Parent shall control the defense of the Disclosed Claims set forth on Annex V-b hereto (although Keane Parent will have reasonable information and consultation rights in connection therewith); provided in the
case of clause (b), that (i) the Disclosed Obligations Cap has not been exhausted and (ii) the Disclosed Obligations Cap would not be exhausted if the amount in controversy in the applicable Disclosed Claim (if decided adversely) would,
when aggregated with all amounts paid or in controversy, with respect to all other Disclosed Claims previously settled or pending under the control of a Seller Company or its Affiliates, reasonably be expected to exceed the Disclosed Obligations
Cap. Neither Party shall settle any Disclosed Claim without the other Party’s prior consent, such consent not to be unreasonably withheld, conditioned or delayed. Trican U.S. shall pay (or cause to be paid), to Keane Parent, all Disclosed
Obligations (up to the Disclosed Obligations Cap), as and when due and payable, and Keane Parent and Buyer will thereafter be solely responsible for the Disclosed Obligations. 

6.17. Insurance Cooperation. Notwithstanding anything to the contrary in this Agreement, promptly after Closing (a) the
Seller Companies shall (i) add Buyer as an additional insured on all Business Insurance Policies or, (ii) in the event that Buyer cannot be added as an additional insured, Seller Companies shall assign, to the extent assignable, to Buyer
the right, power and authority, to make directly to the insurer any request for payment under the Business Insurance Policies relating to any Assumed Liability, or to the extent the insurable loss occurred on or after the date hereof, the Business
or the Purchased Assets, or in the event Buyer is unable to make direct claim for payment, Seller Companies shall cooperate with Buyer in filing any insurance claims and in the collection of insurance proceeds, including where permitted by Law
transferring to Buyer the right to pursue insurance proceeds related to the Assumed Liabilities, or the Business to the extent the insurable loss occurred on or after the date hereof, the Purchased Assets, and any Casualty or Condemnation; and
(b) Seller Companies shall assign, to the extent assignable, to Buyer, the right to receive, or to the extent such right is not assignable Seller Companies shall pay to Buyer as and when received, any future payment under the applicable
insurance policy with respect to the Business for Assumed Liabilities. Any party receiving a notice with respect to any Assumed Liability, the Business or the Purchased Assets shall promptly notify all other Parties hereto. 

6.18. Updated Schedules. Subject to Section 6.1, the Buyer Companies agree that, with respect to the
representations and warranties of Trican Parent and the Seller Companies contained in this Agreement or any Contract entered into during the Interim Period in accordance with the terms of this Agreement, Trican Parent and the Seller Companies shall
have the continuing right until Closing to add, supplement or amend the Seller Disclosure Schedules with respect to any matter hereafter arising, which, if existing at the date hereof or thereafter, would have been required to be set forth or
described in such Seller Disclosure Schedules; provided, however, in no event shall the additions, supplements or amendments to the Seller Disclosure Schedules be reasonably expected to result in Losses by the Buyer Companies in excess
of the Basket; provided that the Deductible and the Cap shall not be taken into consideration in the calculation of such Losses. 

  
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 6.19. Delayed Transfer Assets. To the extent that any Purchased Asset or any claim,
right or benefit arising under or resulting from such Purchased Asset is not capable of being transferred without the Consent of any third Person, or if the transfer of any Purchased Asset would constitute a breach of any obligation under, or a
violation of, any applicable Law unless the Consent of such third Person is obtained (all such Purchased Assets being collectively referred to in this Agreement as “Delayed Transfer Assets”), except as otherwise expressly
provided in this Agreement and without limiting the rights and remedies of Keane Parent or the Buyer contained elsewhere in this Agreement, this Agreement shall not constitute an agreement to transfer any such Delayed Transfer Asset unless and until
such Consent has been obtained. After the Closing and until all such Delayed Transfer Assets are transferred to the Buyer, Trican Parent and the Seller Companies shall use commercially reasonable efforts to, at the sole expense of the Seller
Companies (except in the case of clause (f) below): 
 (a) hold the Delayed Transfer Assets in trust on behalf of, and as bare trustee
for, the Buyer; 
 (b) comply with the terms and provisions of or relating to the Delayed Transfer Assets as agent for the Buyer and for
the Buyer’s benefit; 
 (c) cooperate with Keane Parent and the Buyer in any reasonable and lawful arrangements designed to provide
the benefits of the Delayed Transfer Assets to the Buyer; 
 (d) enforce, at the written request of Keane Parent and for the account of the
Buyer, any rights of the Seller Companies under or arising from the Delayed Transfer Assets against any third Person, including the right to elect to terminate any such rights in accordance with the terms of such rights upon the written direction of
Keane Parent; 
 (e) obtain any Consent required to transfer and assign the Delayed Transfer Assets; and 

(f) make any required payment pursuant to the terms of such Delayed Transfer Asset’s Lease or underlying Contract; provided that
Keane Parent shall promptly reimburse Trican Parent for such payments upon receipt of appropriate documentation therefor. 
 In order that full value of the
Delayed Transfer Assets may be realized for the benefit of Keane Parent and the Buyer, Trican Parent and the Seller Companies shall, at the written request, under the direction of Keane Parent and as permitted by any applicable Contract or
applicable Law, in the name of the Seller Companies or otherwise as Keane Parent may specify, take all such action and do or cause to be done all such things as are, in the opinion of Keane Parent, necessary or proper in order that the obligations
of the Seller Companies under such Delayed Transfer Assets may be performed in such manner that the value of such Delayed Transfer Assets is preserved and enures to the benefit of Keane Parent and the Buyer, and that any moneys due and payable and
to become due and payable to Keane Parent in and under such Delayed Transfer Assets are received by the Buyer. Trican Parent shall, or shall cause the Seller Companies to, promptly pay 

  
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to Keane Parent all moneys collected by or paid to the Seller Companies in respect of every such Delayed Transfer Asset. Notwithstanding the foregoing, nothing herein shall obligate or be
construed to obligate Keane Parent or the Buyer to make, or to cause any of its Affiliates to make, any payment to any Person (it being understood and agreed that the Seller Companies shall be permitted, but not obligated, to make such payments on
the Buyer ‘s behalf) or to consent to any material amendment, extension or modification of any Delayed Transfer Asset in order to obtain such Consent or to transfer any Delayed Transfer Asset in violation of its terms. 

6.20. Waste. Prior to the Closing Date, the Seller Companies shall dispose of (a) all Hazardous Materials associated with
the Business that meet the definition of a waste under the Resource Conservation and Recovery Act, 42 U.S.C. § 6901, et seq., or analogous state law, and (b) all waste materials, that, in either case of (a) or (b), as of the Closing
Date, would be present for 60 days or more at any of the Owned Business Real Property or Leased Business Property or at any other property at which the Business operates, including without limitation customer sites. Such disposal shall comply in all
material respects with all Environmental Laws, including without limitation all waste characterization, notice and manifest requirements. 

6.21. Tax Matters.  

(a) To the extent any Transfer Taxes are incurred, regardless of the Person, in connection with the consummation of the Transaction, Trican
Parent and the Seller Companies will assume responsibility for 50% of those Transfer Taxes up to an aggregate Transfer Taxes amount of $1,500,000 (which, for clarity, would result in Trican Parent and the Seller Companies assuming responsibility for
$750,000 of such Transfer Taxes), and any and all Transfer Taxes in excess of such amount will be borne exclusively by the Buyer Companies. The Parties shall cooperate in the preparation, execution and filing of all Tax Returns regarding any
Transfer Taxes that become payable in connection with the transactions contemplated by this Agreement. 
 (b) The Parties shall cooperate
fully, as and to the extent reasonably requested by the other Party, in connection with the filing of Tax Returns and any audit, litigation, or other proceeding with respect to Taxes relating to the Purchased Assets. Such cooperation shall include
the retention and (upon another Party’s request) the provision of records and information that are relevant to any such Tax Return or audit, litigation or other proceeding and making employees available on a mutually convenient basis to provide
additional information and explanation of any material provided under this Agreement. Trican Parent and the Seller Companies agree to retain all books and records with respect to Tax matters pertinent to the Purchased Assets relating to any taxable
period beginning before the Closing Date until the expiration of the statute of limitations of the respective taxable periods and to abide by all record retention agreements entered into with any Governmental Authority. 

6.22. Misdirected Customer Payments. During the first six months following Closing, Trican Parent shall, and shall cause its
Affiliates to, screen their respective lockbox accounts and customer remittances weekly to determine whether Trican Parent or any Seller Company has received any payment that should have been directed or delivered to Keane Parent or Buyer. Trican
Parent shall, and shall cause its Affiliates to, remit to Keane Parent, with reasonable promptness, and no later than five Business Days after receipt thereof, any monies or 

  
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other assets received by the Seller Companies, Trican Parent or any of their Affiliates constituting a Purchased Asset or which accrued to the Business after the Closing. If any Person determines
that funds previously paid or credited to Trican Parent, the Seller Companies or any of their Affiliates in respect of services rendered prior to the Closing Date have resulted in an overpayment or must be repaid, then Trican Parent shall be
responsible for the repayment of such monies (and the defense of such actions). If the Buyer Companies suffer any deduction to or offset against amounts due to them of funds previously paid or credited to any of the Seller Companies in respect
of the services rendered prior to the Closing Date, then unless such amounts were accounted for in the calculation of Final Net Working Capital, Trican Parent shall immediately pay to the Buyer Companies the amounts so billed or offset upon written
demand. 
 6.23. Power of Attorney. Effective as of the Closing, each of the Seller Companies hereby irrevocably makes,
constitutes and appoints Buyer as their agent, and authorizes and empowers Buyer (or any of the Buyer Companies designated thereby) to fulfill the role of each Seller Company hereunder, and each Seller Company appoints Buyer (and any of the Buyer
Companies designated thereby) as such Seller Company’s true and lawful attorney in fact and agent, for such Seller Company for the sole and exclusive purpose of executing any transfers, conveyances or other documents reasonably necessary in
order to effect the transfer and conveyance of the Purchased Assets to Buyer following Closing, provided for certainty that neither Buyer nor any of the Buyer Companies designated thereby will take any actions in such capacity that could result in
Trican Parent or any of the Seller Companies becoming liable for or assuming any actual or contingent obligation or Liability in addition to those expressly contemplated by this Agreement. The dissolution, liquidation, insolvency or bankruptcy of
Trican Parent or any of the Seller Companies shall not terminate the authority and agency of Buyer (or any of the Buyer Companies designated thereby) as each Seller Company’s representative pursuant to this Section 6.23. The
power of attorney granted in this Section 6.23 is coupled with an interest and is irrevocable. 
 6.24. Alternate
Financing. If any portion of the Debt Financing becomes unavailable on the terms and conditions contemplated in the Debt Financing Commitments, Keane Parent will use its reasonable efforts to arrange to obtain alternative financing from
alternative sources on terms no less favorable in the aggregate to Keane Parent (as determined in the reasonable judgment of Keane Parent) as promptly as practicable following the occurrence of such event. To the extent Keane Parent obtains
alternative financing pursuant to this Section 6.24, references to the “Debt Financing”, the “Financing”, the “Debt Financing Commitment” and the “Financing Commitments” (and other like
terms in this Agreement) will be deemed to refer to such alternative financing. 
 6.25. Commencement of Litigation. If Beal
Bank fails to provide its portion of the Debt Financing at Closing in accordance with the Term Debt Commitment and (a) Beal Bank’s conditions to its obligations in the Term Debt Commitment are satisfied or waived, (b) the conditions
to the obligations of Keane Parent and the Buyer under Sections 7.1 and 7.2 are satisfied or waived and (c) as a result of Beal Bank’s failure to provide such Debt Financing, Keane Parent is obligated to pay
Trican Parent the Tier One Termination Fee pursuant to Section 8.4, then Keane Parent will, or will cause its appropriate Subsidiary to, promptly commence, and diligently pursue, an Action against Beal Bank to obtain the maximum
amount of damages from Beal Bank available under Law, but subject in all respects to the limitations set forth in the Term 

  
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Debt Commitment. For the avoidance of doubt, in no event shall Keane Parent or any of its Subsidiaries be obligated to commence an Action for specific performance of the Term Debt Commitment or
to seek damages in excess of $20,000,000 from Beal Bank. 
 6.26. Transitional Trademark License. 

(a) Except as set forth in Section 6.26(b), after the Closing, Buyer shall not use or otherwise exploit any name in the
Business incorporating “TRICAN” or any derivation thereof that would reasonably be expected to be confused therewith (the “Trican Marks”). 

(b) As promptly as practicable but in no event later than 12 months following the Closing (“Phaseout Period”),
the Buyer shall remove or otherwise obliterate the Trican Marks from all materials owned by the Buyer or its Affiliates associated with the Business, including any buildings, vehicles, equipment, business cards, schedules, stationery, packaging
materials, displays, signs, promotional materials, advertising, manuals, forms, computer software and other materials or fixed assets; provided that the Buyer (i) shall not be obligated to remove or otherwise obliterate the Trican Marks:
(A) prior to the end of the applicable Phaseout Period, (B) with respect to displays of the Trican Marks on equipment (but not buildings, vehicles, signs and storage tanks) that is not reasonably likely to be seen by the public or cannot
be seen by the public without unlawful entry on the applicable location of such equipment and if it is commercially unreasonable to remove or otherwise obliterate, or (C) from all books and records (but not stationery, promotional materials and
advertising) and all archived materials, technical drawings, invoices and manuals; (ii) shall have the right and license to sell existing products and to use existing packaging, labeling, containers, supplies, advertising materials, technical
data sheets and any similar materials bearing the Trican Marks until the earlier of (A) the expiration of the Phaseout Period, and (B) the date existing stocks are exhausted; and (iii) shall have the right and license to use the
Trican Marks in connection with the transition of email services (x) of the Business until six months after the Closing Date. Subject to the terms and conditions of this Agreement, Trican Parent grants Buyer a limited royalty-free,
non-exclusive, personal license to use the Trican Marks solely in the Territory during the Phaseout Period in the operation of the Business, including to offer for sale goods and services sold by Trican Parent and its Affiliates prior to the Closing
Date in the Territory. The foregoing trademark license is granted on the condition that the goods and services sold under the Trican Marks shall be in accordance with the standards and quality of the goods and services offered by Trican Parent and
its Affiliates under the Trican Marks in the Territory prior to the Closing Date, and Buyer shall adhere to any reasonable quality control standards that Trican Parent may promulgate and provide Buyer notice of during the Phaseout Period. Such
license rights are personal to Buyer and not transferable other than to Buyer’s Subsidiaries without the express consent of Trican Parent, which Trican Parent may withhold in its sole discretion. Buyer shall not claim any title or any
proprietary right to the Trican Marks by virtue of the licenses granted above to Buyer. All use of the Trican Marks under the licenses in this Section shall inure solely to the benefit of Trican Parent. 

6.27. Reimbursement of Certain Expenses. If the Closing occurs, at Closing, or if this Agreement is terminated in accordance
with Section 8 (absent a willful or intentional breach by Trican Parent or the Seller Companies), then within five days from such termination, Keane 

  
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Parent shall reimburse, or cause to be reimbursed, Trican Parent for its reasonable and documented out-of-pocket expenses, not to exceed $150,000, incurred in connection with the Transaction.

 SECTION 7. CLOSING CONDITIONS AND DELIVERIES 

7.1. Conditions to Trican Parent’s and Keane Parent’s Obligation to Effect the Closing. The respective obligations of
each of Trican Parent and the Seller Companies and Keane Parent and Buyer to effect the Closing shall be subject to the satisfaction at or prior to the Closing Date of each of the following conditions (any of which may be waived by the mutual
agreement of Trican Parent and Keane Parent, in whole or in part): 
 (a) no Action, Order or Law by or before any Governmental Authority
or investigation by any Governmental Authority shall have been enacted, issued, promulgated, enforced, instituted or be pending or threatened that would be reasonably likely to enjoin, restrain or prohibit this Agreement or consummation of the
transactions contemplated by this Agreement or otherwise limit in any material respect the right of Buyer to own or exercise rights in respect of Business after the Closing; provided that Trican Parent and Keane Parent shall use their
respective commercially reasonable efforts to cause any such Action or Order to be vacated or lifted; and 
 (b) (i) the applicable
waiting period, together with any extensions thereof, under the HSR Act shall have expired or been terminated and (ii) all consents, waivers, authorizations and approvals required to be obtained from, and all filings or notices required to be
made with, any Governmental Authority necessary under any applicable Law for the consummation of the transactions contemplated by this Agreement, shall have been obtained or made. 

7.2. Conditions to Obligations of Keane Parent and Buyer to Effect the Closing. The obligation of Keane Parent and Buyer to
consummate the Closing shall be subject to the satisfaction on or prior to the Closing Date of each of the following conditions (any of which may be waived by Keane Parent, in whole or in part): 

(a) subject to Section 6.18, all of the representations and warranties (other than the Fundamental Representations) of
Trican Parent and the Seller Companies set forth in this Agreement shall have been true and correct in all material respects when made, all of the representations and warranties (other than the Fundamental Representations) of Trican Parent and the
Seller Companies set forth in this Agreement shall be true and correct in all material respects as of the Closing Date, as though made on and as of the Closing Date (in either case, without giving effect to any statement of materiality or a
“Material Adverse Effect” qualifier) except, in each case, that those representations and warranties that address matters only as of a particular date shall remain true and correct in all material respects as of such date. The Fundamental
Representations shall be true and correct in all respects upon execution of this Agreement and as of the Closing Date as though made on and as of the Closing Date. Without limiting the foregoing, the Parties acknowledge and agree that, for the
purposes of this Section 7.2(a), the conditions set forth above that (i) all of the representations and warranties (other than the Fundamental Representations) of Trican Parent and the Seller Companies set

  
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forth in this Agreement be true and correct in all material respects when made, (ii) all of the representations and warranties (other than the Fundamental Representations) of Trican Parent
and the Seller Companies set forth in this Agreement be true and correct in all material respects as of the Closing Date, as though made on and as of the Closing Date (in either case, without giving effect to any statement of materiality or a
“Material Adverse Effect” qualifier) except, in each case, that those representations and warranties that address matters only as of a particular date shall remain true and correct in all material respects as of such date, and
(iii) the Fundamental Representations be true and correct in all respects upon execution of this Agreement and as of the Closing Date as though made on and as of the Closing Date, will in the case of (i), (ii) and (iii) above, not be
considered to have not been satisfied to the extent that if, after Closing, any of the Buyer Indemnified Parties had sought indemnification for such failure pursuant to Section 9.2(a), the indemnification for Losses payable to the
Buyer Indemnified Parties as a direct result of that failure would not be reasonably likely to exceed the Basket as reduced (but not below $0) on a dollar-for-dollar basis by the aggregate amount of the reasonably expected Losses (without taking
into account the Deductible and the Cap for the calculation of such Losses) incurred, or to be incurred, by the Buyer Companies as a result of any additions, supplements or amendments to the Seller Disclosure Schedules pursuant to
Section 6.18. Furthermore, and without limiting the foregoing, the Parties acknowledge and agree that, for the purposes of this Section 7.2(a), any failure of the representation and warranty of Trican Parent and
the Seller Companies in Section 4.4(a) to be true and correct in all respects upon execution of this Agreement or as of the Closing Date as though made on and as of the Closing Date will be deemed not to be a failure to so satisfy
such condition to the extent that, prior to Closing, Trican Parent and the Seller Companies remedy such failure either by replacing the applicable Purchased Asset to which the applicable Seller Company does not have good, valid and marketable title,
subject to Permitted Encumbrances, with an asset of same type and condition and of the same value, or by otherwise remedying the title issue so as to cause compliance with the representation and warranty in Section 4.4(a). 

(b) Trican Parent and the Seller Companies shall have performed in all material respects all obligations and shall have complied in all
material respects with all covenants required to be performed or complied with on or prior to the Closing by it or them under this Agreement; 

(c) since the date hereof, there shall has been no change, event or occurrence that has had or could reasonably be expected to have,
individually or in the aggregate, a Seller Material Adverse Effect; 
 (d) Keane Parent shall have received to its reasonable satisfaction,
the deliveries required under Section 3.4; 
 (e) each of the Lender Consents is in full force and effect and the
release of all collateral constituting Purchased Assets has occurred or will occur concurrently with Closing; and 
 (f) Keane Parent shall
have received (i) from Trican Parent and each of the Seller Companies a certificate executed by an officer of Trican Parent and each of the Seller Companies, in their capacity as an officer, to the effect that the statements set forth in
Sections 7.2(a) through 7.2(c) above with respect to Trican Parent and such Seller Companies are true and correct; 

  
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 7.3. Conditions to Obligations of Trican Parent and the Seller Companies. The
obligations of Trican Parent and the Seller Companies to consummate the Closing shall be subject to the satisfaction on or prior to the Closing Date of each of the following conditions (any of which may be waived by Trican Parent, in whole or in
part): 
 (a) all of the representations and warranties of the Buyer Companies (other than the Fundamental Representations) set forth in
this Agreement shall have been true and correct in all material respects when made, and shall be true and correct in all material respects as of the Closing Date, as though made on and as of the Closing Date (in either case, without giving effect to
any statement of materiality or a “Material Adverse Effect” qualifier) except, in each case, that those representations and warranties that address matters only as of a particular date shall remain true and correct in all material respects
as of such date. The Fundamental Representations shall be true and correct in all respects upon execution of this Agreement and as of the Closing Date, as though made on and as of the Closing Date; 

(b) Keane Parent and Buyer shall have performed in all material respects all obligations and shall have complied in all material respects
with all covenants required to be performed or complied with on or prior to the Closing by the Buyer Companies under this Agreement; 
 (c)
since the date hereof, there shall has been no change, event or occurrence that has had, or could reasonably be expected to have, individually or in the aggregate, a Buyer Material Adverse Effect; 

(d) Trican Parent shall have received to its reasonable satisfaction, the deliveries required under Section 3.5; and 

(e) Trican Parent shall have received (i) from Keane Parent and Buyer a certificate executed by an officer of Keane Parent and Buyer, in
their capacities as officers, to the effect that the statements set forth in Sections 7.3(a) and (b) with respect to the Buyer Companies are true and correct. 

7.4. Frustration of Closing Conditions. None of the Parties hereto may rely on the failure of any condition set forth in this
Section 7 to be satisfied if such failure was caused by such party’s failure to act or to use its commercially reasonable efforts (or such efforts as required pursuant to Section 6.10) to cause the Closing
to occur. 
 SECTION 8. TERMINATION 

8.1. Termination. Notwithstanding anything to the contrary set forth in this Agreement, this Agreement may be terminated at any
time prior to the Closing: 
 (a) by the unanimous written consent of Trican Parent and Keane Parent; 

  
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 (b) by any Party hereto if any Governmental Authority shall have issued a non-appealable Order
or enacted, promulgated or instituted any Law that permanently restrains, enjoins or otherwise prohibits this Agreement or the consummation of the transactions contemplated by this Agreement; 

(c) by Keane Parent if there has been a misrepresentation that would result in the condition to closing set forth in
Section 7.2(a) not to be satisfied or there has been a material breach of any obligation or covenant by Trican Parent or the Seller Companies that would result in the condition to closing set forth in
Section 7.2(b), 7.2(d) or 7.2(e) not to be satisfied; provided, however, that, if such breach is reasonably capable of being cured prior to the Outside Date, Trican Parent and the Seller Companies shall
have until the second Business Day prior to the Outside Date to cure such breach (including by curing a misrepresentation made as of the date hereof such that it ceases to be the subject of a misrepresentation that would result in the condition to
closing set forth in Section 7.2(a) not to be satisfied if such representation or warranty were to be given on the cure date) before Keane Parent may so terminate this Agreement; provided further, however,
that Keane Parent shall not have the right to terminate this Agreement pursuant to this Section 8.1(c) if there has been a misrepresentation that would result in the condition to closing set forth in
Section 7.3(a) not to be satisfied or there has been a material breach of any obligation or covenant by Keane Parent or the Buyer that would result in the condition to closing set forth in Section 7.1 or
7.3(b), 7.3(d) or 7.3(e) not to be satisfied; 
 (d) by Trican Parent if (i) there has been
a misrepresentation that would result in the condition to closing set forth in Section 7.3(a) not to be satisfied or (ii) there has been a material breach of any obligation or covenant by Keane Parent or the Buyer that would
result in the condition to closing set forth in Section 7.3(b), 7.3(d) or 7.3(e) not to be satisfied; provided, however, that, if such breach is reasonably capable of being cured prior to
the Outside Date, Keane Parent and the Buyer shall have until the second Business Day prior to the Outside Date to cure such breach (including by curing a misrepresentation made as of the date hereof such that it ceases to be the subject of a
misrepresentation that would result in the condition to closing set forth in Section 7.3(a) not to be satisfied if such representation or warranty were to be given on the cure date) before Trican Parent may so terminate this
Agreement; provided further, however, that Trican Parent shall not have the right to terminate this Agreement pursuant to this Section 8.1(d) if there has been a misrepresentation that would result in the
condition to closing set forth in Section 7.2(a) not to be satisfied or there has been a material breach of any obligation or covenant by Trican Parent or the Seller Companies that would result in the condition to closing set
forth in Section 7.1 or 7.2(b), 7.2(d) or 7.2(e) not to be satisfied; 
 (e) by any Party if
the Closing shall not have occurred on or prior to the Outside Date; provided that no Party may terminate this Agreement pursuant to this Section 8.1(e) if such Party’s or its Affiliate’s failure to fulfill any of
its or their respective obligations under this Agreement, or the failure of such Party’s representations and warranties provided for in this Agreement to be true and correct the extent required pursuant to Section 7.2 or
7.3 as a condition of Closing, as applicable, shall have been the proximate cause of the Closing not to have occurred on or before said date; or 

(f) by Trican Parent (i) if each of the conditions to the obligations of Keane Parent and Buyer in Sections 7.1 and
7.2 have been satisfied or waived (except for 

  
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conditions that would be by their nature be satisfied upon consummation of the Transaction), and (ii) if Trican Parent has delivered an irrevocable written notice to Keane Parent stating
that, if the conditions to the obligations of Trican Parent and the Seller Companies in Sections 7.1 and 7.3 have been satisfied or waived (except for conditions that would be by their nature be satisfied upon
consummation of the Transaction) and the Equity Financing Commitment and the Debt Financing Commitment are funded, Closing will occur, and Keane Parent and Buyer fail to consummate the Transaction within three Business Days following the date of
Keane Parent’s receipt of such notice solely because the Term Debt Commitment (or an alternative financing in accordance with Section 6.24) has not been, or is not reasonably likely to be, made available to Buyer and its
applicable Affiliates in accordance with the Term Debt Commitment (or any analogous commitment in connection with an alternative financing described in Section 6.24) in circumstances where the proximate cause of such Term Debt
Commitment (or if applicable, any analogous commitment in connection with an alternative financing described in Section 6.24) not being made available is not due to the failure of the Equity Financing to be made available in
accordance with the terms of the Equity Financing Commitment. 
 8.2. Effect of Termination. In the event of the termination
of this Agreement by any Party hereto pursuant to the terms of this Agreement, written notice thereof shall forthwith be given to the other Party or Parties specifying the provision hereof pursuant to which such termination of this Agreement is
made, and this Agreement shall become void and of no further force and effect, except for the provisions of (a) Section 6.3 relating to certain confidentiality obligations, (b) Section 6.13 relating to
publicity, (c) this Section 8, (d) Section 6.25, but only in the event that the Tier One Termination Fee is payable to Trican Parent and (e) Section 10. In such instance, each
Party hereto shall return or destroy all documents and other materials received from the other Parties hereto relating to this Agreement, and all confidential information received by each Party hereto with respect to any other Party shall be treated
in accordance with the terms of Section 6.3. If this Agreement is terminated as permitted by this Section 8 such termination shall be without liability of any party (or any of its Affiliates, Representatives or
Representatives of its Affiliates) to any other party to this Agreement; except as set forth in Section 8.3 and Section 8.4 below. 

8.3. Expense Reimbursement/ Losses of Keane Parent. In the event that Keane Parent terminates this Agreement pursuant to
(a) Section 8.1(c) absent a willful or intentional breach by Trican Parent or the Seller Companies, Trican Parent shall pay, or shall cause to be paid, to Keane Parent or Buyer, as the sole and exclusive remedy of Keane
Parent and Buyer in respect of such termination, by wire transfer of immediately available funds to an account designated in writing by Keane Parent, all reasonable out-of-pocket fees (including legal fees) and expenses (the “Fees and
Expenses”), incurred by Keane Parent or Buyer in connection with this Agreement, the transactions contemplated hereby and enforcing this Section 8.3 or (b) Section 8.1(c) as a result of a
willful or intentional breach by Trican Parent or the Seller Companies, Trican Parent shall pay, or cause to be paid, to Keane Parent or Buyer by wire transfer of immediately available funds to an account designated in writing by Keane Parent, the
Fees and Expenses and any other damages to which Keane Parent or Buyer may be entitled at law or in equity as a result of such willful or intentional breach. 

8.4. Termination Fee. In the event that Trican Parent is entitled to terminate this Agreement pursuant to
(a) Section 8.1(f) or Section 8.1(d) absent a willful or intentional breach 

  
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by Keane Parent or Buyer that is the proximate cause of the Transaction not being consummated or not being able to be consummated, then in either case Keane Parent shall pay, or cause to be paid,
to the Seller Companies by wire transfer of immediately available funds to an account designated in writing by Trican Parent, a termination fee of $20,000,000 (the “Tier One Termination Fee”), or
(b) Section 8.1(d), but solely as a result of Keane Parent’s or Buyer’s willful or intentional breach that is the proximate cause of the Transaction not being consummated or not being able to be consummated or in
the event Keane Parent or Buyer otherwise fails to consummate the Transaction after satisfaction or waiver of each condition to the obligations of Keane Parent and Buyer under Sections 7.1 and 7.2 (except for conditions
that would by their nature be satisfied upon the consummation of the Transaction) and in the event the Transaction was consummated and the Equity Financing was made available in accordance with the terms set forth in the Equity Commitment Letter,
the debt financing contemplated by the Term Debt Commitment (or any analogous commitment in connection with any alternative financing described in Section 6.24) would be made available to Buyer in accordance with the Term Debt Commitment (or
such alternative commitment), then in each of the foregoing cases Keane Parent shall pay, or cause to be paid, to the Seller Companies, a termination fee of $55,000,000 (the “Tier Two Termination Fee”) by wire transfer of
immediately available funds to an account designated in writing by Trican Parent no later than two Business Days after the date of such termination. The Parties acknowledge and agree that in no event will both the Tier One Termination Fee and the
Tier Two Termination Fee be payable and no Buyer Company will be required to pay the Tier One Termination Fee or the Tier Two Termination Fee on more than one occasion. If Trican Parent is entitled to terminate this Agreement in circumstances where
both the Tier One Termination Fee and the Tier Two Termination Fee would be payable, only the Tier Two Termination Fee will be payable by Keane Parent to the Seller Companies. The Parties have agreed in light of the circumstances existing at the
time of execution of this Agreement (including the inability of the Parties to quantify the damages that may be suffered by Trican Parent and the Seller Companies) that this Section 8.4 is reasonable, that the Tier One Termination
Fee or the Tier Two Termination Fee, as applicable, represents a good faith, fair estimate of the damages that Trican Parent and the Seller Companies would suffer in the applicable circumstances and that, if payable, the Tier One Termination Fee or
the Tier Two Termination Fee, as applicable, shall be payable as liquidated damages (and not as a penalty) without requiring Trican Parent or the Seller Companies to prove actual damages. Notwithstanding anything to the contrary in this Agreement,
in the event that Keane Parent or Buyer fails to effect the Closing for any reason or no reason or a breach of its obligations hereunder (whether willfully, intentionally, knowingly or otherwise) or fails to perform hereunder (whether willfully,
intentionally, knowingly or otherwise), then the sole and exclusive remedy (whether at law, in equity, in contract, in tort or otherwise) of Trican Parent and the Seller Companies or any Person claiming by, through or for the benefit of the Seller
Companies or Trican Parent against Keane Parent or the Buyer and each of their former, current or future equity holders, controlling Persons, managers, officers, employees, agents, general or limited partners, managers, management companies,
members, Affiliates, Representatives or assignees and any and all former, current or future heirs, executors, administrators, trustees, successors or assigns of any of the foregoing, (each, a “Buyer Related Party,” and collectively,
the “Buyer Related Parties”) in respect of this Agreement, any Transaction Document or agreement executed in connection herewith (including the Financing Commitments) and the transactions contemplated hereby and thereby shall
be to terminate this Agreement in accordance with this 

  
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Section 8 and collect hereunder the Tier One Termination Fee or the Tier Two Termination Fee, as applicable; and upon payment of such amount, and subject to performance by the
applicable Buyer Related Parties of their respective surviving obligations as set forth in Section 8.2, no Buyer Related Party shall have any other Liability or obligation for any or all Losses or damages suffered or incurred by
Trican Parent and the Seller Companies in connection with this Agreement (including with respect to the Financing Commitments or the termination hereof), the transactions contemplated hereby (and the abandonment thereof) or any matter forming the
basis for such termination, and neither Trican Parent or the Seller Companies nor any of their respective directors, officers, employees, stockholders, partners, Affiliates or Representatives shall be entitled to bring or maintain any other claim,
Action or proceeding against any Buyer Company or any other Buyer Related Party arising out of this Agreement or any of the transactions contemplated hereby or any matters forming the basis for such termination. Notwithstanding anything to the
contrary in this Agreement, Trican Parent and the Seller Companies agree that the maximum aggregate liability, in the aggregate, of Keane Parent and Buyer under this Agreement, except in respect of the performance by the applicable Buyer Related
Parties of their respective surviving obligations as set forth in Section 8.2, shall be limited to an amount equal to the Tier One Termination Fee in the event Trican Parent terminates this Agreement pursuant to
Section 8.1(f) or 8.1(d), in each case, absent a willful or intentional breach by Keane Parent or Buyer that is the proximate cause of the Transaction not being consummated or not being able to be consummated or the
Tier Two Termination Fee if Trican Parent terminates this Agreement pursuant to Section 8.1(d), but solely as a result of (1) Keane Parent’s or Buyer’s willful or intentional breach that is the proximate cause of
the Transaction not being consummated or not being able to be consummated, or (2) in the event Keane Parent or Buyer otherwise fails to consummate the Transaction after satisfaction or waiver of each condition to the obligations of Keane Parent
and Buyer under Sections 7.1 and 7.2 (except for conditions that would by their nature be satisfied upon the consummation of the Transaction) and in the event the Transaction was consummated, the debt financing
contemplated by the Term Debt Commitment (or any analogous commitment in connection with any alternative financing described in Section 6.24) would be made available to Buyer in accordance with the Term Debt Commitment (or such analogous
commitment) absent a failure of the Equity Financing to be made available in accordance with the terms of the Equity Financing Commitment, and in no circumstances shall Trican Parent or the Seller Companies seek any money damages in excess of such
amount. In the event that Keane Parent is obligated to bring an Action against Beal Bank pursuant to Section 6.25, Keane Parent shall promptly pay, or cause to be paid, after receipt, any recovery (net of Keane Parent’s or
its Subsidiaries’ reasonable legal costs and expenses incurred in connection with such Action) against Beal Bank as a result of the Action described in Section 6.25. 

SECTION 9. SURVIVAL OF REPRESENTATIONS, WARRANTIES AND COVENANTS; TRANSACTION RELATED INDEMNIFICATION 

9.1. Survival of Representations, Warranties and Covenants. The representations and warranties of Trican Parent and the Seller
Companies in Section 4 hereof (including, without limitation, pursuant to any closing certificate) shall expire and terminate and be of no further force and effect to the extent provided as follows: (each such date, an
“Expiration Date”) (i) the Fundamental Representations shall survive the Closing indefinitely; (ii) the representations and warranties contained in Sections 4.17 (Employee Benefit
Programs) and 4.25 (Tax Matters) 

  
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shall survive until 30 days after the expiration of the applicable statute of limitations; (iii) the representations and warranties contained in Section 4.19
(Environmental Matters) shall survive until the date that is three years following the Closing Date; (iv) the representations and warranties set forth in clause (c) of Section 4.4 shall survive until the
date that is 120 days following the Closing Date; and (v) all other representations and warranties shall survive until the date that is 18 months after the Closing Date. Any written claim for indemnification for breach of representations and
warranties of Trican Parent or the Seller Companies contained in Section 4 hereof (including, without limitation, pursuant to any closing certificate) made prior to the applicable Expiration Date and delivered to Trican Parent
shall survive thereafter and, as to any such claim, such applicable expiration will not affect the rights to indemnification of the party making such claim. Any written claim by Keane Parent with respect to fraud by Trican Parent or the Seller
Companies may be given at any time. Any written claim by Keane Parent with respect to a breach, whether prior to, on or after the Closing, of any covenant or other agreement made by Trican Parent or the Seller Companies in this Agreement may be
given at any time prior to the expiration of the applicable statute of limitations period. The representations and warranties of the Buyer Companies contained in Section 5 hereof (including, without limitation, pursuant to any
closing certificate) shall expire and terminate and be of no further force and effect to the extent provided as follows: (each a “Buyer Expiration Date”) (i) the Fundamental Representations shall survive the Closing
indefinitely; (ii) the representations and warranties contained in Sections 5.13 (Employee Benefit Programs) and 5.16 (Tax Matters) shall survive until 30 days after the expiration of the
applicable statute of limitations; (iii) the representations and warranties contained in Section 5.15 (Environmental Matters) shall survive until the date that is three years following the Closing Date and
(iv) all other representations and warranties shall survive until the date that is 18 months after the Closing Date. Any written claim for indemnification for breach of representations and warranties of the Buyer Companies contained in
Section 5 hereof (including, without limitation, pursuant to any closing certificate) made prior to the applicable Buyer Expiration Date and delivered to Trican Parent shall survive thereafter and, as to any such claim, such
applicable expiration will not affect the rights to indemnification of the party making such claim. Any written claim by Trican Parent with respect to fraud by Keane Parent or the Buyer may be given at any time. Any written claim by Trican Parent
with respect to a breach, whether prior to, on or after the Closing, of any covenant or other agreement made by Keane Parent or Buyer in this Agreement may be given at any time prior to the expiration of the applicable statute of limitations period.

 9.2. Indemnification by Trican Parent. Subject to Sections 9.1, 9.4, 9.5 and
10.1, from and after the Closing, Trican Parent shall indemnify, hold harmless and reimburse the Buyer Companies, their Subsidiaries, and each of its and theirs respective officers, managers, agents, successors and assigns (each, a
“Buyer Indemnified Party”) from and against and in respect of any and all losses, damages, costs, expenses (including any reasonable and documented attorneys’ fees), fines, penalties, disbursements and amounts paid in
settlement (collectively, the “Losses”) which any Buyer Indemnified Party may actually suffer or incur to the extent arising out of or related to: 

(a) any inaccuracy or breach of any representation or warranty made by Trican Parent or the Seller Companies in Section 4
of this Agreement (disregarding for this purpose any materiality, “material adverse effect” or “Material Adverse Effect” qualification or exception otherwise contained in any such representations and warranties); 

  
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 (b) any breach or nonperformance of any covenant or other agreement made by Trican Parent or any
of the Seller Companies in this Agreement; 
 (c) any Tax Liability (other than for Transfer Taxes allocated to the Buyer Companies under
Section 6.21(a)) imposed on the Business or the Purchased Assets except (i) those specified in Section 2.3, and (ii) Taxes imposed on Keane Parent, the Buyer, the Business or the Purchased Assets that
do not constitute Pre-Closing Taxes; 
 (d) Disclosed Obligations incurred by the Buyer Indemnified Parties and Seller Indemnified Parties,
collectively, to the extent the aggregate amount of such Disclosed Obligations are equal to or less than the Disclosed Obligations Cap; 

(e) Seller Termination Obligations; 

(f) the Excluded Liabilities; 

(g) Transfer Taxes allocated to Trican Parent and the Seller Companies under Section 6.21(a); 

(h) any cost or expense incurred by the Buyer Companies in carrying out all maintenance and repair operations to bring the Unutilized
Equipment into good operating condition in accordance with Section 4.4(d) in excess of $4,750,000; and 
 (i) the U.S.
EPA RCRA Matter. 
 9.3. Indemnification by Keane Parent. Subject to Sections 9.1, 9.4, 9.5
and 10.1, from and after the Closing, Keane Parent shall indemnify, hold harmless and reimburse Trican Parent, its Affiliates, and each of its and theirs respective officers, directors, agents, successors and assigns (each, a
“Seller Indemnified Party”) from and against and in respect of any and all Losses which any Seller Indemnified Party may actually suffer or incur to the extent arising out of or related to: 

(a) any inaccuracy or breach of any representation or warranty made by the Buyer Companies in Section 5 of this Agreement
(disregarding for this purposes any materiality, “material adverse effect” or “Buyer Material Adverse Effect” qualification or exception otherwise contained in any such representations and warranties); 

(b) any breach or nonperformance of any covenant or other agreement made by Keane Parent or Buyer in this Agreement; 

(c) any Disclosed Obligation, including those incurred by the Buyer Indemnified Parties and Seller Indemnified Parties, that are in excess of
the amounts for which Trican Parent is obligated to indemnify and hold harmless the Buyer Indemnified Parties pursuant to Section 9.2(d); 

(d) Transfer Taxes allocated to the Buyer Companies under Section 6.21(a); and 

(e) the Assumed Liabilities. 

  
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 9.4. Limitations on Indemnification.  

(a) Mini Basket. Neither Trican Parent nor Keane Parent will have any liability under Section 9.2(a) or
Section 9.3(a), as applicable, unless the aggregate amount of the Losses that will be payable with respect to any claim (or series of related claims) exceeds an amount equal to $25,000 (the “Mini-Basket”),
it being understood that any such individual claim (or series of related claims) for amounts less than the Mini-Basket shall be ignored for all purposes of this Agreement, including determining whether the Deductible has been met or exceeded;
provided, however, that the Mini-Basket will not apply to claims based on fraud. 
 (b) Deductible. Neither Trican
Parent nor Keane Parent will have any liability under Section 9.2(a) or Section 9.3(a), as applicable until the aggregate amount of all Losses incurred or suffered by the Buyer Indemnified Parties or Seller
Indemnified Parties, as applicable arising out of or related to such breaches of or inaccuracies in the representations and warranties set forth in Section 4 or Section 5, as applicable, exceed $1,000,000, and
Trican Parent or Keane Parent, as applicable, will only be liable to the Buyer Indemnified Parties or Seller Indemnified Parties, respectively, for those Losses in excess of $1,000,000 (the “Deductible”). 

(c) Cap. Trican Parent’s and Keane Parent’s respective aggregate maximum liability under Section 9.2(a)
or Section 9.3(a), as applicable (as determined after giving effect to the limitations resulting from the Deductible) will not exceed $3,000,000 (the “Cap”); provided, however, that the Cap
will not apply to claims based on fraud. 
 9.5. R&W Insurance Policies. From and after the Closing, the R&W Insurance
Policies shall be the sole and exclusive remedy of the Indemnified Parties for any and all Losses exceeding the Cap that are sustained or incurred by any of the Indemnified Parties by reason of, resulting from or arising out of any breach of or
inaccuracy in any of the Trican Parent’s, the Seller Companies’ or Buyer Companies’, as applicable, representations or warranties contained in this Agreement (other than the Fundamental Representations). Without limiting the
generality of the foregoing, any rights of any issuer of the R&W Insurance Policies, including any rights of subrogation, do not affect, expand or increase any liability or obligation of any Party in connection with the transactions contemplated
by this Agreement. 
 9.6. Procedure. 

(a) Third Party Claims. All claims for indemnification relating to third party claims shall be asserted and resolved as set forth in
this Section 9.6. In the event that any written claim or demand for which an Indemnifying Party would be liable is asserted against or sought to be collected from any Indemnified Party by a third party, such Indemnified Party
shall promptly, but in no event more than 30 days following such Indemnified Party’s receipt of such claim or demand, notify the Indemnifying Party of such claim or demand and the amount or the estimated amount thereof to the extent then
feasible (which estimate shall not be conclusive of the final amount of such claim and demand) (the “Claim Notice”). Assuming compliance with the limitation on the control of litigation (“Defense Control
Condition”) set forth in Section 6.16, 

  
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the Indemnified Party shall not be foreclosed by any failure to provide timely notice of the existence of a third party claim or demand to the Indemnifying Party except to the extent (and only to
the extent) such failure materially prejudices the Indemnifying Party’s ability to contest such claim. The Indemnifying Party shall have 30 days from the delivery or receipt of the Claim Notice (the “Notice Period”) to
notify the Indemnified Party (a) whether or not the Indemnifying Party disputes the liability of the Indemnifying Party to the Indemnified Party hereunder with respect to such claim or demand and (b) subject to the Defense Control
Condition, whether or not it desires to defend the Indemnified Party against such claim or demand. Assuming compliance with the Defense Control Condition, all costs and expenses incurred by the Indemnifying Party in defending such claim or demand
shall be a liability of, and shall be paid by, the Indemnifying Party. Subject to the Defense Control Condition, in the event that the Indemnifying Party notifies the Indemnified Party within the Notice Period that it desires to defend the
Indemnified Party against such claim or demand and except as hereinafter provided, the Indemnifying Party shall have the right to defend the Indemnified Party (i) by appropriate proceedings and (ii) to use or retain counsel in connection
with such defense that is reasonably acceptable to the Indemnified Party; provided that the Indemnifying Party acknowledges in writing prior to the assumption of the defense of such claim or demand, its obligations to indemnify the
Indemnified Party for such claim or demand. The Indemnified Party shall make available to the Indemnifying Party all information reasonably available to such Indemnified Party relating to such claim or demand. In addition, the Indemnified Party and
the Indemnifying Party shall render to each other such assistance as may reasonably be requested in order to ensure the proper and adequate defense of any such claim or demand. The party in charge of the defense shall keep the other party fully
apprised at all times as to the status of the defense or any settlement negotiations with respect thereto. If any Indemnified Party desires to participate in, but not control, any such defense or settlement it may do so at its sole cost and expense,
and subject to any reasonable privilege or confidentiality considerations. In the event that the Indemnifying Party does not elect to, defend the claim, the Indemnified Party shall not settle a claim or demand without the consent of the Indemnifying
Party (not to be unreasonably withhold, conditioned or delayed); provided that the Indemnifying Party has previously acknowledged in writing its obligations to indemnify the Indemnified Party for such claim or demand. The Indemnifying Party
shall not, without the prior written consent of the Indemnified Party, settle, compromise or offer to settle or compromise any such claim or demand (i) on a basis which would result in the imposition of a consent order, injunction or decree
which would restrict the future activity or conduct of the Indemnified Party without the written consent of the Indemnified Party and (ii) without obtaining (a) a release with respect to such claim or demand and (b) the dismissal with
prejudice of any litigation or other proceeding with respect to such claim or demand, in each case for the benefit of and in form and substance reasonably satisfactory to the Indemnified Party. If the Indemnifying Party elects not to defend the
Indemnified Party against such claim or demand, whether by not giving the Indemnified Party timely notice as provided above or otherwise, then the amount of any such claim or demand, or, if the same be contested by the Indemnified Party, then that
portion thereof as to which such defense is unsuccessful (and the reasonable costs and expenses pertaining to such defense) shall be the liability of the Indemnifying Party hereunder to the extent any Losses are sustained which are otherwise the
subject of indemnification under this Section 9. Assuming compliance with the Defense Control Condition, to the extent the Indemnifying Party shall control or participate in the defense or settlement of any third party claim or
demand, the Indemnified Party will give 

  
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to the Indemnifying Party and its counsel access to, during normal business hours, the relevant business records and other documents, and shall permit them to consult with the employees and
counsel of the Indemnified Party (in each case, subject to the reasonable restrictions in light of any privilege, confidentiality or competitively sensitive issues). The Indemnified Party shall use its reasonable best efforts in the defense of all
such claims. 
 (b) Payment. If the Indemnifying Party concedes liability in whole or in part, it shall, within 30 days of such
concession, pay (in accordance with and subject to the limitations set forth in this Agreement) the amount of the claim to the Indemnified Party to the extent of the liability conceded. Any such payment shall be made in cash in immediately available
funds equal to the amount of such claim so payable. If the Indemnifying Party does not respond or denies liability in whole or in part or advises that the matters set forth in the notice are, or will be, subject to contest or legal proceedings not
yet finally resolved, then the Indemnifying Party shall make no payment (except for the amount of any conceded liability payable as set forth above) until the matter is resolved in accordance with this Agreement. 

9.7. Treatment of Indemnification Payments. Trican Parent and Keane Parent agree to treat any indemnification payments received
pursuant to this Agreement for all Tax purposes as an adjustment to the Final Cash Purchase Price to the extent permitted under applicable Law. 

9.8. Exclusive Remedy. Following the Closing, a claim for indemnification pursuant to this Section 9 (and
with respect to a claim of a breach of a representation and warranty in Section 4 or Section 5, the R&W Insurance Policies) shall be the sole and exclusive remedy of the Indemnified Parties for any and all claims or
rights (whether such claim is framed in tort, contract or otherwise) arising out of or in connection with any breach, violation or nonperformance of this Agreement by any Party, or otherwise arising out of or in connection with the transactions
contemplated hereby, other than in respect of any such claims or rights which are based on theories of fraud. Prior to the Closing and subject to Section 10.12, each Party will have all rights and remedies under applicable Law
with respect to any breaches of representations, warranties, covenants or other agreements. 
 9.9. Insurance Offset. If any
Losses sustained by an Indemnified Party are covered by an insurance policy or an indemnification, contribution or similar obligation of another Person (other than an Affiliate of such Indemnified Party), the Indemnified Party shall use commercially
reasonable efforts to collect such insurance proceeds or indemnity, contribution or similar payments. If the Indemnified Party receives such insurance proceeds or indemnity, contribution or similar payments prior to being indemnified, held harmless
and reimbursed under Section 9.2 or Section 9.3, as applicable, with respect to such Losses, the payment by an Indemnifying Party under this Section 9 with respect to such Losses shall be
reduced by the net amount of such insurance proceeds or indemnity, contribution or similar payments to the extent related to such Losses, less reasonable attorney’s fees and other expenses incurred in connection with such recovery. If the
Indemnified Party receives such insurance proceeds or indemnity, contribution or similar payments after being indemnified and held harmless by an Indemnifying Party with respect to such Losses, the Indemnified Party shall pay to the Indemnifying
Party the net amount of such insurance proceeds or indemnity, contribution or similar payment to the extent related to such Losses, less reasonable attorney’s fees and other expenses incurred in connection with such recovery. 

  
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 9.10. Investigation. Notwithstanding any right of Trican Parent or the Seller
Companies, on the one hand, or the Buyer Companies, on the other hand, as the case may be, (whether or not exercised) to investigate the affairs of Buyer or the Seller Companies, as the case may be, each party shall have the right to rely fully upon
the representations, warranties, covenants and agreements of the other Party contained in this Agreement, the Transaction Documents and any other document or instrument required to be delivered pursuant to this Agreement. No information or
knowledge, whether obtained by a Party in an investigation conducted by such Party, provided to such Party by the other Party to this Agreement or otherwise obtained by such Party, shall affect or be deemed to modify any representation or warranty
of any other Party contained herein or the conditions to the obligations of the parties to consummate the transactions contemplated by this Agreement. The right to indemnification contained in this Section 9, or to any other
remedy based on a breach of the representations, warranties, covenants, and obligations of another Party, will not be affected by any investigation conducted by a Party with respect to, or any knowledge acquired (or capable of being acquired) at any
time, whether before or after the execution and delivery of this Agreement or the Closing Date, about an accuracy or inaccuracy of or compliance or failure to comply with, any representation, warranty, covenant or obligation of any other Party. 

9.11. Limitation on Damages. FROM AND AFTER CLOSING, NOTWITHSTANDING ANYTHING IN THIS AGREEMENT TO THE CONTRARY, NO PARTY SHALL
BE LIABLE TO ANY OTHER PARTY FOR SPECIAL, INDIRECT, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES SUFFERED BY SUCH PARTY RESULTING FROM OR ARISING OUT OF THIS AGREEMENT OR THE BREACH THEREOF OR UNDER ANY OTHER THEORY OF LIABILITY, WHETHER TORT,
NEGLIGENCE, STRICT LIABILITY, BREACH OF CONTRACT, WARRANTY, INDEMNITY OR OTHERWISE, INCLUDING LOSS OF USE, INCREASED COST OF OPERATIONS, LOSS OF PROFIT OR REVENUE, OR BUSINESS INTERRUPTIONS. IN FURTHERANCE OF THE FOREGOING, FROM AND AFTER CLOSING,
EACH PARTY RELEASES EACH OTHER PARTY AND WAIVES ANY RIGHT OF RECOVERY FOR SPECIAL, INDIRECT, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES SUFFERED BY SUCH PARTY REGARDLESS OF WHETHER ANY SUCH DAMAGES ARE CAUSED BY THE OTHER PARTY’S NEGLIGENCE
(AND REGARDLESS OF WHETHER SUCH NEGLIGENCE IS SOLE, JOINT, CONCURRENT, ACTIVE, PASSIVE OR GROSS NEGLIGENCE), FAULT, OR LIABILITY WITHOUT FAULT; PROVIDED, HOWEVER, THE FOREGOING SHALL NOT BE CONSTRUED AS LIMITING AN OBLIGATION OF A PARTY TO
INDEMNIFY, DEFEND AND HOLD HARMLESS ANOTHER PARTY AGAINST CLAIMS ASSERTED BY THIRD PARTIES, INCLUDING, BUT NOT LIMITED TO, THIRD-PARTY CLAIMS FOR SPECIAL, INDIRECT, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES. 

SECTION 10. GENERAL 
 10.1.
Disclaimer. All representations and warranties of Trican Parent and Seller Companies, as applicable, and the Buyer Companies not included in this Agreement or any other

  
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Transaction Document are expressly disclaimed by Trican Parent and the Seller Companies, as applicable, and the Buyer Companies, respectively. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT,
TRICAN PARENT AND THE SELLER COMPANIES WILL CONVEY THE PURCHASED ASSETS TO BUYER WITHOUT ANY EXPRESS, STATUTORY OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND, INCLUDING WARRANTIES RELATING TO (a) THE CONDITION OR MERCHANTABILITY OF THE
PURCHASED ASSETS, (b) THE FITNESS OF THE PURCHASED ASSETS FOR A PARTICULAR PURPOSE OR (c) FREEDOM FROM OTHER DEFECTS. PRIOR TO THE DATE HEREOF, BUYER HAS BEEN GIVEN THE OPPORTUNITY TO INSPECT THE PURCHASED ASSETS, AND, UPON CLOSING, WILL
ACCEPT THE PURCHASED ASSETS “AS IS,” “WHERE IS,” AND “WITH ALL FAULTS” AND IN ITS PRESENT CONDITION AND STATE OF REPAIR, SUBJECT ONLY TO THE TERMS AND CONDITIONS OF THIS AGREEMENT. WITHOUT LIMITING THE GENERALITY OF THE
FOREGOING, EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, TRICAN PARENT AND THE SELLER COMPANIES MAKE NO REPRESENTATION OR WARRANTY AS TO THE PHYSICAL, OPERATING, REGULATORY COMPLIANCE, SAFETY OR THE ENVIRONMENTAL CONDITION OF THE PURCHASED
ASSETS. 
 10.2. Waivers and Consents; Amendments. 

(a) For the purposes of this Agreement and all Contracts, documents and instruments executed pursuant hereto, no course of dealing between or
among any of the Parties hereto and no delay on the part of any Party hereto in exercising any rights hereunder or thereunder shall operate as a waiver of the rights hereof and thereof. No covenant or provision hereof may be waived otherwise than by
a written instrument signed by the Party or Parties so waiving such covenant or other provision as contemplated herein. 
 (b) No amendment
to this Agreement may be made without the written consent of Keane Parent and Trican Parent. 

  
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 10.3. Governing Law. This Agreement shall be deemed to be a Contract made under,
and shall be construed in accordance with, the Laws of the State of Delaware applicable to Contracts entered into, and to be wholly performed within such State. 

10.4. Section Headings; Construction; Interpretation. The descriptive headings in this Agreement have been inserted for
convenience only and shall not be deemed to limit or otherwise affect the construction of any provision thereof or hereof. The Parties have participated jointly in the negotiation and drafting of this Agreement and the other Contracts, documents and
instruments executed and delivered in connection herewith with counsel sophisticated in investment transactions. In the event an ambiguity or question of intent or interpretation arises, this Agreement and the Transaction Documents any other
documents and instruments executed and delivered in connection herewith shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any
provisions of this Agreement and the Transaction Documents any other documents and instruments executed and delivered in connection herewith. Unless otherwise required by the context in which any term appears: 

(a) The singular shall include the plural, the plural shall include the singular, and the masculine shall include the feminine and neuter.

 (b) References to “Articles,” “Sections,” “Schedules” or “Exhibits” shall be to articles,
sections, schedules or exhibits, respectively, of or to this Agreement, and references to “paragraphs” or “clauses” shall be to separate paragraphs or clauses of the section or subsection in which the reference occurs. 

(c) The words “herein,” “hereof,” “herewith” and “hereunder” and words of similar import shall refer
to this Agreement as a whole and not to any particular section or subsection of this Agreement, the words “include,” “includes” or “including” shall mean “including, without limitation” and the word
“or” shall not be exclusive. 
 (d) All references to “dollars” or “$” shall be
deemed references to the lawful money of the United States of America. References in this Agreement to dollar amount thresholds, deductibles or baskets shall not be deemed to be evidence of a Seller Material Adverse Effect, Buyer Material Adverse
Effect or materiality. 
 (e) All references to “made available to Buyer” or “made available to Trican Parent” or
“made available to the Seller Companies” shall mean made available to Buyer, Trican or the Seller Companies in the other Party’s virtual data room at least one Business Day prior to execution of this Agreement or delivered to Buyer or
Trican Parent, as applicable, or their respective Representatives via electronic mail prior to execution of this Agreement. 
 (f) All
references to a particular entity shall include such entity’s successors and permitted assigns unless otherwise specifically provided herein. 

(g) All references herein to any Law or to any Contract or other agreement shall be to such Law, Contract or other agreement as amended,
supplemented or modified from time to time unless otherwise specifically provided herein; so long as, in the case of Contracts, such amendments, supplements or modifications after the date hereof are not prohibited by the terms of this Agreement.

  
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 (h) For purposes of this Agreement, “commercially reasonable efforts” shall not
include any obligation of any Person to expend money (other than nominal amounts), commence or participate in any Action or grant any material accommodation (financial or otherwise) to any other Person. References to “the Seller Companies”
or similar terminology shall be deemed to constitute references to each of the Seller Companies. 
 10.5. Counterparts. This
Agreement may be executed simultaneously in any number of counterparts, each of which when so executed and delivered (including, without limitation, by facsimile) shall be taken to be an original; but such counterparts shall together constitute but
one and the same document. 
 10.6. Notices and Demands. Any notice or demand which is required or provided to be given under
this Agreement shall be deemed to have been sufficiently given and received for all purposes when delivered in writing by hand, when transmitted to the applicable number so specified in (or pursuant to) this Section 10.6 and an
appropriate answerback is received when sent by telecopy, telex or other method of facsimile, or five days after being sent by certified or registered mail, postage and charges prepaid, return receipt requested, or two days after being sent by
overnight delivery providing receipt of delivery, to the following addresses: 
 if to Trican Parent or the Seller Companies: 

Trican Well Service Ltd. 

2900, 645 - 7th Ave SW 

Calgary, AB | T2P 4G8 

Facsimile: 403.231.7975 

Attention: Dale Dusterhoft, Chief Executive Officer 

                 Bonita Croft, VP, General Counsel and
Corporate Secretary 
 with a copy to: 

Trican Well Services, L.P. 

c/o Trican Well Service Ltd. 

2900, 645 - 7th Ave SW 

Calgary, AB | T2P 4G8 

Facsimile: 403.231.7975 

Attention: Dale Dusterhoft, Chief Executive Officer 

                 Bonita Croft, VP, General Counsel and
Corporate Secretary 
 and with an additional copy to (which shall not constitute notice): 

Blake, Cassels & Graydon LLP 

Suite 3500 
 855 2nd Street S.W. 
 Calgary AB T2P 4J8 

Canada 
 Facsimile:
403.260.9700 
 Attention: Ben Rogers 

  
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 if to Keane Parent or Buyer: 

Keane Group Holdings LLC 
 2121
Sage Road, Suite 370 
 Houston, TX 77056 

Facsimile: 713.960.1048 

Attention: James Stewart, Chairman and Chief Executive Officer 

                Greg Powell, President and Chief Financial
Officer 
 with a copy to (which shall not constitute notice): 

Schulte Roth & Zabel LLP 

919 Third Avenue 
 New York, NY
10022 
 Facsimile: 212.593.5955 

Attention: Stuart D. Freedman, Esq. 

A Party may change its address and contact information for purposes of this Section 10.6 by providing notice of such change
in writing to the other Parties in accordance with this Section 10.6. 
 10.7. Consent to Jurisdiction; Waiver of
Jury Trial. Except as provided in this Section 10.7, each of the Parties hereto irrevocably and unconditionally consents to the sole and exclusive jurisdiction of the Court of Chancery of the State of Delaware or, if such
Court does not have jurisdiction, in the courts of the State of Delaware or, if it has or can acquire jurisdiction, in the United States District Court for the District of Delaware, and each of the Parties hereby consents to the exclusive
jurisdiction of such courts (and of the appropriate appellate courts) in any such action or proceeding and waives any objection to venue laid therein. Process in any action or proceeding referred to in the preceding sentence may be served on any
Party anywhere in the world, whether within or without the State of Delaware. Each of the Parties hereto hereby consents to service of process by registered mail at the address to which notices are to be given. Each of the Parties hereto agrees that
its or his submission to jurisdiction and its or his consent to service of process by mail is made for the express benefit of the other Parties hereto. 

EACH PARTY HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY ACTION
DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, ANY TRANSACTION DOCUMENT OR ANY TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR THE TRANSACTION DOCUMENTS. EACH PARTY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT
OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR 

  
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OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO
ENTER INTO THIS AGREEMENT AND THE TRANSACTION DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.7. 

10.8. Remedies; Severability. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be
effective and valid under applicable Law, but if any provision of this Agreement shall be deemed prohibited or invalid under such applicable Law, such provision shall be ineffective to the extent of such prohibition or invalidity, and such
prohibition or invalidity shall not invalidate the remainder of such provision or the other provisions of this Agreement. 
 10.9.
Integration. This Agreement, including, without limitation, the exhibits, documents and instruments referred to herein, the Confidentiality Agreement and the other Transaction Documents constitute the entire agreement, and supersede all
other prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof and thereof, including, without limitation, the provisions of the summary of terms between the Parties hereto in respect of
the transactions contemplated hereby, which provisions of the summary of terms shall be completely superseded by the representations, warranties, covenants and agreements of the Seller Companies contained herein. 

10.10. Assignability; Binding Agreement. This Agreement will be binding upon and inure to the benefit of the Parties hereto and
their respective successors and permitted assigns, but will not be assignable or delegable by any Party hereto without the prior written consent of the other Party. Notwithstanding anything to the contrary contained herein, it is hereby acknowledged
and agreed that any Party may assign any and/or all of its rights under this Agreement and the other Transaction Documents by way of security to any banks and/or holders of debt securities and/or financial institutions and/or hedge counterparties
and/or any other Person (collectively, the “Financiers”) lending money, providing credit or otherwise providing financing to any of such Party or any of its Affiliates, including, without limitation any Financiers in
connection with any and all subsequent refinancings. 
 10.11. Expenses. Except as otherwise expressly provided in this
Agreement, fees and expenses incident to the negotiation, preparation and execution of this Agreement and the performance of the transactions contemplated hereby (including, without limitation, attorneys’, accountants’, financial
advisors’ and other advisors’ fees and disbursements) and the fees and expenses of any broker, finder or agent retained by such party in connection with the transactions contemplated by this Agreement shall be borne by the party incurring
such fees and expenses. 
 10.12. Specific Performance. Trican Parent and the Seller Companies acknowledge that, in view of
the uniqueness of the Business and the Purchased Assets, Keane Parent and the Buyer would not have an adequate remedy at law for money damages and would be irreparably harmed in the event that this Agreement has not been performed in accordance with
its terms, and therefore agree that Keane Parent and Buyer shall be entitled to specific enforcement of the terms hereof in addition to any other remedy to which it may be entitled, at law or in equity. For

  
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the avoidance of doubt, each of Trican Parent and the Seller Companies shall have no right to seek (and shall not be entitled to seek) specific performance (or any other equitable remedy) to
cause Keane Parent, Buyer, Cerberus Capital Management, L.P., or any Financing Sources to specifically perform its obligations hereunder, including the consummation of the Transaction or the Financing (or in either case, any portion thereof) and the
sole and exclusive remedy available to Trican Parent and the Seller Companies shall be the payment of the Tier One Termination Fee or Tier Two Termination Fee, as applicable, as set forth in Section 8.4 hereto. Notwithstanding the
foregoing, nothing in this Section 10.12 shall prevent any Party hereto from seeking to specifically enforce any of its rights pursuant to and accordance with the terms set forth in that certain Confidentiality Agreement dated as
of June 22, 2015; provided, however, that the Parties Agree that notwithstanding the non-solicitation provision set forth in such Confidentiality Agreement, nothing therein shall prohibit or frustrate Buyer’s ability to
solicit the employment of (a) the Business Employees in accordance with the terms of this Agreement or (b) following the Closing, the Trican Agents (as defined in the Services Agreement). 

10.13. Third Party Beneficiaries. This Agreement will be binding upon and inure solely to the benefit of each party hereto, and
nothing in this Agreement, express or implied, is intended to or will confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

10.14. Personal Liability. No director, officer, manager, employee, representative or agent of any Party hereto shall have any
liability or obligation to the other Party hereto of any nature whatsoever in connection with or under this Agreement or the transactions contemplated herein, and each Party hereby waives and releases all claims of any such liability and obligation.

 [SIGNATURE PAGE FOLLOWS] 

  
 91 

 IN WITNESS WHEREOF, the Parties have executed this Agreement or have caused this Agreement
to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above written. 
  

					
	KEANE GROUP HOLDINGS, LLC
		
	By:	 	 /s/ GREGORY L. POWELL

		 	Name:	 	Gregory L. Powell
		 	Title:	 	Chief Financial Officer
	
	KEANE FRAC, LP
	
	BY: KEANE FRAC GP, LLC, ITS GENERAL PARTNER
	
	BY: KEANE GROUP HOLDINGS, LLC, ITS MANAGING MEMBER
		
	By:	 	 /s/ GREGORY L. POWELL

		 	Name:	 	Gregory L. Powell
		 	Title:	 	Chief Financial Officer

  
 92 

 
					
	TRICAN WELL SERVICE LTD.
		
	By:	 	 /s/ DALE DUSTERHOFT

		 	Name:	 	Dale Dusterhoft
		 	Title:	 	Chief Executive Officer
	
	TRICAN WELL SERVICE, L.P.
	
	BY: TRILIB MANAGEMENT LLC, ITS GENERAL PARTNER
		
	By:	 	 /s/ BRIAN T. HARRISON

		 	Name:	 	Brian T. Harrison
		 	Title:	 	Secretary
	
	TRILIB MANAGEMENT LLC
		
	By:	 	 /s/ JOHN J. KOACH

		 	Name:	 	John J. Koach
		 	Title:	 	Vice President
	
	TRICAN LLC
		
	By:	 	 /s/ BRIAN T. HARRISON

		 	Name:	 	Brian T. Harrison
		 	Title:	 	Secretary

  
 93

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