Mr. Bradley Fedora reports

IRON HORSE ACQUISITION RECEIVES CLEARANCE PURSUANT TO THE COMPETITION ACT

Trican Well Service Ltd. has received clearance from the Competition Bureau, in the form of a no-action letter, with respect to the previously announced acquisition of all of the issued and outstanding shares of Iron Horse Energy Services. Iron Horse is a premium provider of fracturing and coiled tubing services in the Cardium, Charlie Lake, Mannville Stack, Viking, Montney and Shaunavon plays in the Western Canadian sedimentary basin.

Under the terms of the acquisition, Iron Horse shareholders will receive approximately $77.35-million in cash and approximately 33.76 million common shares of Trican. Following closing of the acquisition, Tom Coolen, chairman and chief executive officer of Iron Horse, will be appointed to the board of directors of Trican.

"We are delighted to have received a no-action letter from the Competition Bureau, completing a critical stage of our acquisition process. This acquisition augments our strategy and aligns with our long-term vision for growth and innovation in Canada. We look forward to better serving customers in all areas of the basin and creating meaningful value for our shareholders," said Brad Fedora, Trican's president and chief executive officer.

The acquisition is expected to close on or about Aug. 27, 2025, subject to the satisfaction or waiver of customary closing conditions and Toronto Stock Exchange listing approval of the common shares of Trican to be issued pursuant to the acquisition.

About Trican Well Service Ltd.

Headquartered in Calgary, Alta., Trican supplies oil and natural gas well servicing equipment and solutions to its customers through the drilling, completion and production cycles. Its team of technical experts provide state-of-the-art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada.

We seek Safe Harbor.