KGS · Kodiak Gas Services, Inc.

Kodiak Gas Services has completed its strategic acquisition of Distributed Power Solutions, marking a significant expansion beyond its core contract compression business into the distributed power generation market. The $587 million cash plus 2.4 million share transaction adds approximately 395 megawatts of generation capacity and broadens Kodiak's customer base across data centers, microgrids, manufacturing and energy infrastructure end markets. Management views DPS as a natural strategic extension of Kodiak's large-horsepower operating capabilities and expects the acquisition to be immediately accretive to earnings and discretionary cash flow per share while extending the duration and stability of the company's contracted cash flows. The sellers received registration rights for the 2.4 million shares issued as consideration, including rights to require Kodiak to file a shelf registration statement before the 180-day lock-up period ends and piggyback rights for certain future offerings. Integration activities are underway with focus on maintaining service continuity, operational excellence and safety across the combined platform, which has been rebranded as Kodiak Power Solutions.