Mr. Bradley Fedora reports

TRICAN WELL SERVICE LTD. ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID PROGRAM FOR 2025-2026

The Toronto Stock Exchange has accepted Trican Well Service Ltd.'s application to renew its normal course issuer bid (NCIB). The NCIB allows for Trican to purchase up to 18,405,613 common shares, representing 10 per cent of the company's public float, as defined by the TSX, as of Sept. 22, 2025. The NCIB will be in place from Oct. 5, 2025, to Oct. 4, 2026, or until such earlier time as the NCIB is completed or terminated at the option of Trican. As at Sept. 22, 2025, there were 212,231,345 common shares of Trican issued and outstanding, and the public float for the company's common shares was 184,056,131.

Under TSX rules, the company is subject to a daily purchase limit of 131,393 common shares, representing 25 per cnet of the average daily trading volume of 525,572 common shares on the TSX for the six calendar months ended Aug. 31, 2025. However, the company may make one block purchase per calendar week that exceeds such daily purchase restrictions. All common shares purchased through the NCIB will be returned to treasury for cancellation. All purchases will be made through the facilities of the TSX or Canadian alternative trading systems at the prevailing market price at the time of such transaction.

The company intends to enter into an automatic securities purchase plan with a designated broker, whereby common shares may be repurchased at times when such purchases would otherwise be prohibited pursuant to regulatory restrictions or self-imposed blackout periods.

Under its 2024-2025 NCIB program, Trican purchased 13,187,215 common shares as at Sept. 30, 2025, for aggregate consideration of $56.4-million at a weighted average price per share of $4.27, which is 69 per cent of the maximum amount of shares allowable under the 2024-2025 program of 19,010,793 common shares. The 2024-2025 program was in place from Oct. 5, 2024, to Oct. 4, 2025.

Since initiating its NCIB strategy in 2017, Trican has repurchased 177 million common shares or approximately 51 per cent of the company's issued and outstanding shares at that time.

Providing returns to shareholders remains core to Trican's strategy. Trican continues to view investment in the NCIB program as an effective method of providing shareholder returns, and is committed to maintaining a financially prudent capital structure and managing the NCIB program in accordance with this objective. As the company's financial position and financial results dictate, management will evaluate and adjust the company's investment in the NCIB.

About Trican Well Services 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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