Mr. Elias Mulamoottil reports

COLLIERS ENHANCES ENGINEERING CAPABILITIES IN ENERGY MARKET

Colliers International Group Inc.'s Canadian engineering platform, Englobe Corp., has entered into a definitive agreement to acquire Obsidian Engineering Corp., a leading Calgary-based multidisciplinary engineering firm specializing in engineering, procurement and construction management (EPCM) services for private-sector clients. The acquisition expands Englobe's capabilities, adds scale across Western Canada and establishes a significant presence in Canada's critical energy infrastructure market.

Founded in 2017, Obsidian's over 400 professionals have delivered more than 3,500 projects across Canada's energy and data centre markets. The firm's experience spans natural gas processing facilities, thermal facilities, pipelines, well pads, CO2 (carbon dioxide) infrastructure, renewable energy solutions, data centres and other specialized facilities.

Under Colliers's unique partnership model, Obsidian's senior team will become significant shareholders of Englobe and play a key role in its leadership going forward. Terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.

"This investment accomplishes a key strategic priority of establishing a meaningful position in Canada's growing energy sector," said Elias Mulamoottil, chief investment officer and chief executive officer of engineering at Colliers. "As our country is positioning to be an oil and gas superpower, the addition of Obsidian's extensive qualifications will drive significant opportunities across our global platform."

"Obsidian brings highly complementary expertise in EPCM project delivery and bolsters our ability to support clients across the full life cycle of complex energy and industrial infrastructure projects," said Mike Cormier, president of Englobe. "We are thrilled to welcome Obsidian's talented professionals who have built an impressive business with significant scale, deep technical expertise and an excellent reputation."

"Our culture and values align very closely with Englobe, making this partnership a logical next step in Obsidian's journey," said Mark Czechowsky, chief executive officer of Obsidian. "We were attracted to Colliers's perpetual partnership model, decentralized operating philosophy and enterprising culture that we believe will create long-term stability and significant opportunity for our people going forward."

About Colliers International Group Inc.

Colliers is a global diversified professional services and investment management company operating through three industry-leading businesses: commercial real estate, engineering and investment management. With greater than a 30-year record of consistent growth and strong recurring cash flows, the company scales complementary, high-value businesses that provide essential services across the full asset life cycle. Colliers's unique partnership philosophy empowers exceptional leaders, preserves its entrepreneurial culture and ensures meaningful inside ownership -- driving strong alignment and sustained value creation for our shareholders. With $6-billion in annual revenues, 28,000 professionals and $110-billion in assets under management, Colliers is committed to accelerating the success of our clients, investors and people worldwide.