Mr. Fabien Sevestre reports

FORACO ANNOUNCES ELECTION OF DIRECTORS AND DECLARATION OF CAD$ 0.06 DIVIDEND PER COMMON SHARE

Foraco International SA, in accordance with Toronto Stock Exchange requirements, has released the voting results at the ordinary general meeting of shareholders of the company held on April 12, 2024, in Marseille, France.

In accordance with French law, shareholders of the company, when voting in elections for directors, are given the option to vote for or against/abstain for the director nominees, meaning that it is not possible for nominees for directors to receive a majority of withhold votes and retain their position as directors of the company. The director nominees, as listed in the company's management proxy circular dated March 8, 2024, for the meeting, were elected as directors of the company at the meeting. The votes submitted for each director were as shown in the associated tables.

In addition, at the meeting, the shareholders voted 100 per cent in favour of the company declaring a cash dividend for the 2023 fiscal year. Accordingly, Foraco will pay a special dividend, payable in cash, of six cents per common share in the capital of the company on July 18, 2024, to shareholders of record at the close of business (Toronto time) on April 23, 2024.

Payment of the dividend to a non-French resident shareholder is generally subject to French withholding tax at a rate of 12.8 per cent for individuals and 25 per cent for non individuals. A general summary of the principal withholding tax considerations pursuant to French law with respect to such shareholders is available on Foraco's website, together with information regarding potential withholding tax reductions under the provisions of an applicable tax treaty or convention.

The company's statutory filings, including its complete report of voting results from the meeting, are available at SEDAR+.

About Foraco International SA

Foraco International is a leading global mineral drilling services company that provides a comprehensive and reliable service offering in mining and water projects. Supported by its founding values of integrity, innovation and involvement, Foraco has grown into the third-largest global drilling enterprise with a presence in 22 countries across five continents.

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