Mr. Bradley Fedora reports

TRICAN ANNOUNCES CLOSING OF IRON HORSE ACQUISITION

Trican Well Service Ltd. has closed the previously announced acquisition of Iron Horse Energy Services. Iron Horse is a premium provider of fracturing and coiled tubing services with operations in the Western Canadian sedimentary basin.

Pursuant to the acquisition, Trican has acquired all of the issued and outstanding common shares of Iron Horse. Under the terms of the acquisition, Iron Horse shareholders received approximately $77.35-million in cash and approximately 33.76 million common shares of Trican. Following the successful closing of the acquisition, Trican is pleased to announce the appointment of Tom Coolen, chairman and chief executive officer of Iron Horse, to its board of directors.

The Trican common shares issued pursuant to the acquisition are expected to be listed on the TSX on or about Aug. 29, 2025, upon receipt of TSX final approval.

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. The company's 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.

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