Ms. Ilona Rojkova reports

FINNING ANNOUNCES PRICING OF $350 MILLION OF 4.445% SENIOR UNSECURED NOTES

Finning International Inc. has priced an offering of $350-million principal amount of 4.445 per cent senior unsecured notes due May 16, 2028, which will rank pari passu with existing senior unsecured obligations of Finning. Interest on the notes is payable semi-annually, commencing on Nov. 16, 2023.

Closing of the offering of the notes is expected to occur on or about May 16, 2023. This offering is being made pursuant to exemptions from the prospectus requirements of applicable securities laws of the provinces of Canada. Purchasers of notes will be obliged to establish their qualification to invest in accordance with the requirements of the securities laws of the jurisdiction in which they reside. As this offering is being made pursuant to exemptions from prospectus requirements of applicable securities laws, there will be restrictions on the resale of the notes.

Proceeds from the issuance of the notes will be used for repayment of existing indebtedness, including 70 million British pounds principal amount of its 3.4 per cent senior notes, Series F, due May 22, 2023, and for general corporate purposes.

RBC Capital Markets, Scotiabank and TD Securities (as joint bookrunners), and CIBC World Markets Inc., National Bank Financial Inc., Citigroup Global Markets Canada Inc., Merrill Lynch Canada Inc., Wells Fargo Securities Canada Ltd., HSBC Securities (Canada) Inc. and MUFG Securities (Canada) Ltd. are acting as agents with respect to the offering of the notes.

About Finning International Inc.

Finning is the world's largest Caterpillar dealer delivering unrivalled service to customers for 90 years. Headquartered in Surrey, B.C., Finning provides Caterpillar equipment, parts, services and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom and Ireland.

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