Select Water Solutions, Inc. — Director's Dealing 2018

May 16, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Select Energy Services, Inc. (WTTR)
CIK: 0001693256
Period of Report: 2018-05-14

Reporting Person: Skarke Michael (EVP, Water Solutions)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-14	Class A Common Stock	M	28063	—	Acquired	40706	Direct
2018-05-14	Class B Common Stock	M	28063	—	Disposed	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-05-14	SES Holdings LLC Units	$	M	28063	Disposed		Class A Common Stock (28063)	Indirect

Footnotes

F1: Reflects the distribution from SES Legacy Holdings, LLC, to the Reporting Person, of 28,063 limited liability company units of SES Holdings, LLC (each, an "SES Holdings LLC Unit") and 28,063 shares of Class B common stock of the Issuer and the exchange of such SES Holdings LLC Units and Class B common stock for an equal number of shares of Class A common stock of the Issuer.

F2: Each share of Class B common stock has no economic rights but entitles its holder to one vote on all matters to be voted on by stockholders generally.

F3: Represents 28,063 SES Holdings LLC Units and 28,063 shares of Class B common stock held directly by SES Legacy Holdings, LLC for which the Reporting Person may be deemed to be the beneficial owner. The Reporting Person generally has the right to acquire beneficial ownership of such 28,063 SES Holdings LLC Units and 28,063 shares of Class B common stock held by SES Legacy Holdings, LLC at his election pursuant to the SES Legacy Holdings, LLC limited liability company agreement.

F4: Subject to the terms of the limited liability company agreement of SES Holdings, LLC among SES Legacy Holdings, LLC and the other members thereof, the SES Holdings LLC Units (together with a corresponding number of shares of Class B common stock) are exchangeable from time to time for shares of Class A common stock of the Issuer. Each of SES Holdings, LLC and the Issuer has the option to deliver cash in lieu of shares of Class A common stock upon the exercise by SES Legacy Holdings, LLC (or any transferee) of its exchange right.