Mr. Pramod Jain reports

CMG ANNOUNCES THE ACQUISITION OF SEISWARE INTERNATIONAL INC.

Computer Modelling Group Ltd. has acquired SeisWare International Inc., a software company specializing in geoscience solutions.

Based in Calgary, Alta., SeisWare develops geoscience interpretation and field development software to support subsurface exploration and development projects. SeisWare's intuitive platform offers powerful tools for seismic interpretation, attribute analysis, geological mapping and 3-D well design.

"SeisWare reflects our disciplined approach in expanding our capabilities by acquiring high-quality software solutions," stated Pramod Jain, chief executive officer of Computer Modelling. "The company has earned a strong reputation and loyal customer base in Canada by delivering powerful, integrated geoscience tools alongside responsive and highly technical customer support. SeisWare is a platform acquisition for CMG which further builds out our seismic interpretation solutions and underscores our commitment to investing in businesses with the potential to deliver strong returns and long-term value."

In the 12 months ended March 31, 2025, SeisWare had unaudited revenue of approximately $3.4-million (U.S.) consisting of all recurring software revenue.

Total purchase price is estimated to be $6.6-million (U.S.) and is subject to customary closing adjustments.

The company is also pleased to announce that Herman Nieuwoudt, who joined the company as president of Bluware in November, 2024, has been promoted to executive vice-president and president, Seismic Solutions. In his new role, he will oversee all of the company's seismic technologies and he will formally join the executive leadership team. SeisWare's team of over 40 employees, located in Calgary and Houston, will join this seismic solutions group. Murray Brack, CEO of SeisWare, will join Computer Modelling as general manager, SeisWare, reporting to Mr. Nieuwoudt.

Commenting on the transaction, Murray Brack, CEO of SeisWare, stated: "Joining CMG is a natural next step for us, grounded in our shared Canadian roots and a mutual dedication to exceptional customer support. What makes it truly exciting is how well our values and vision align around our commitment to developing specialized, technical software that meets the evolving needs of the energy industry."

About Computer Modelling Group Ltd.

Computer Modelling is a global software and consulting company that combines science and technology with deep industry expertise to solve complex subsurface and surface challenges for the new energy industry around the world. Computer Modelling is headquartered in Calgary, Alta., with offices in Houston, Oxford, Dubai, Bogota, Rio de Janeiro, Bengaluru, Kuala Lumpur, Oslo, Stavanger and Kaiserslautern.

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