Effective December 12, 2016, Aly Energy Services, Inc. announced that Nadine Smith resigned as a member of board of directors. On January 30, 2017 and in contemplation of the closing of the Recap, board of directors implemented the following changes of Shauvik Kundagrami was elected Chief Executive Officer and a member of the board of directors; provided that, the effective date of his election as Chief Executive Officer will be determined at a later date, but prior to May 1, 2017; Micki Hidayatallah will serve as Chief Executive Officer until the effective date of Mr. Kundagrami's election to the position. Mr. Hidayatallah will remain Executive Chairman of the Board; Ali Afdhal resigned as a member of the board of directors but will continue to assist the Company as an emeritus director; Bryan Dutt was added to the board of directors; and Greg Price was elected as Chief Operating Officer.

Shauvik Kundagrami, 53 years of age, has served as co-head of the energy group at RBC for the prior 10 years. Bryan Dutt, 57 years of age, is the Founder and President of Ironman Energy Capital Management, LLC, which he founded in 1999. Greg Price, 65 years of age, has served as a Special Advisor to the CEO of the company since April 2016.