Mr. Fabien Sevestre reports

FORACO ANNOUNCES NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted for filing Foraco International SA's notice in respect of a normal course issuer bid to be transacted through the facilities of the TSX and/or through alternative trading systems.

Pursuant to the normal course issuer bid, Foraco may purchase up to one million of its common shares, representing approximately 1.0075 per cent of the total 99,251,798 common shares of the company issued and outstanding as at Sept. 29, 2023. Purchases will be made at prevailing market prices commencing Oct. 6, 2023, and ending Oct. 5, 2024. Pursuant to TSX policies, daily purchases will not exceed 2,322 common shares, other than block purchase exceptions.

In the previous normal course issuer bid that commenced Oct. 4, 2022, and ended Oct. 3, 2023, Foraco sought and obtained approval from the TSX to purchase one million of its common shares. The company has purchased 798,994 common shares within such period and the average weighted price of the shares purchased was $1.42. The securities were repurchased through the TSX and through alternative trading systems. The average daily trading volume for the six-month period ended Aug. 31, 2023, was 9,288 common shares.

The company has engaged Research Capital Corp. as its broker under an automatic share purchase plan to undertake purchases under the normal course issuer bid. During the term of the automatic share purchase plan, the company will not communicate any material undisclosed information to the trading staff at Research Capital, and, accordingly, Research Capital may make purchases regardless of whether a blackout period is in effect or whether there is material undisclosed information about the company at the time purchases are made.

The company intends to hold the shares until the same is required to be transferred to employees to satisfy the company's obligations in respect of grants made by Foraco to its employees under the company's free share plans.

A copy of the company's notice filed with the TSX may be obtained, by any shareholder without charge, by contacting Foraco's chief financial officer, Fabien Sevestre.

About Foraco International SA

Foraco International is a global leading drilling services company that provides turnkey solutions for mining, energy, water and infrastructure projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the third-largest global drilling enterprise with operations in 22 countries across five continents.

We seek Safe Harbor.