Mr. Tom Connors reports

ACT ENERGY TECHNOLOGIES ANNOUNCES TSX APPROVAL FOR RENEWAL OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted and provided approval for ACT Energy Technologies Ltd.'s notice of intention to renew the company's normal course issuer bid (NCIB).

The NCIB allows ACT to purchase up to 2,034,285 common shares (representing 10 per cent of the company's public float, as defined by the TSX, as of July 30, 2025) over a period of 12 months commencing on Aug. 11, 2025. On July 30, 2025, ACT had 33,934,977 common shares issued and outstanding and 20,342,855 common shares in its public float. This normal course issuer bid will expire no later than Aug. 10, 2026.

Under the NCIB, common shares may be purchased through the facilities of the TSX, other designated exchanges and/or through other alternative trading systems in Canada. The price the company will pay for any common shares acquired under the NCIB will be the market price at the time of acquisition, and the common shares acquired will be cancelled. The actual number of common shares purchased under the NCIB, the timing of purchases and the price at which the common shares are purchased will depend on management discretion based on factors such as market conditions.

The average daily trading volume (ADTV) of the company's common shares on the TSX over the six months ending July 31, 2025, was 34,400 common shares. Under TSX rules, ACT is entitled to purchase up to the greater of: 25 per cent of the ADTV of the respective class of shares; or 1,000 shares on any trading day; or a larger amount of shares per calendar week, subject to the maximum number that may be acquired under the NCIB, if the transaction meets the block purchase exception under TSX rules. Accordingly, unless a block purchase meeting the block purchase exception under TSX rules is made, the company is entitled to purchase up to 8,600 common shares on any trading day.

In connection with the NCIB, the company has established an automatic securities purchase plan for the common shares with a designated broker. The plan was established to provide standard instructions regarding how the common shares are to be repurchased under the NCIB. Accordingly, the plan facilitates repurchases of the company's common shares under the NCIB at times when the company would ordinarily not be permitted to repurchase its securities due to regulatory restrictions and customary self-imposed blackout periods. The plan will commence on Aug. 11, 2025, and terminate on Aug. 10, 2026. The company may otherwise vary, suspend or terminate the plan only if it does not have material non-public information and the decision to vary, suspend or terminate the plan is not taken during a self-imposed trading blackout period. The plan constitutes an automatic plan for purposes of applicable Canadian securities legislation and has been reviewed by the TSX.

The board of directors and senior management of the company are of the opinion that, from time to time, the purchase of its common shares at the prevailing market price is in the best interest of the company and its shareholders. By making such repurchases, the number of common shares in circulation will be reduced and the proportionate interest of remaining shareholders of the company in the share capital of the company will be increased on a pro rata basis.

The company was permitted to repurchase up to 1,902,008 preconsolidation common shares under its prior NCIB that ran from July 29, 2024, to July 28, 2025. As at July 28, 2025, ACT had repurchased an aggregate of 1,902,008 common shares under its expired NCIB on the open market at a volume-weighted average price per common share of approximately $5.89 per common share.

About ACT Energy Technologies Ltd.

ACT Energy Technologies, based in Calgary, Alta., Canada, is incorporated under the Business Corporations Act (Alberta). The company operates in Canada and in the United States as Altitude Energy Partners and in the United States under Discovery Downhole Services and Rime Downhole Technologies. ACT's common shares are publicly traded on the TSX under the symbol ACX. ACT is a trusted partner to North American energy companies requiring high-performance directional drilling services and related downhole technologies. The company works in partnership with its customers to tailor its equipment and expertise to meet their specific geographical and technical needs. The company's experience, technologies and responsive personnel enable its customers to achieve higher efficiencies and lower project costs.

We seek Safe Harbor.