Trican Well Service Ltd. Announces Renewal of Normal Course Issuer Bid Program for 2026-2027

Shares purchased under the renewed authorization will be cancelled, with purchases made at prevailing market prices.

Rhea-AI Summary

Trican Well Service (TOLWF) received approval to renew its share buyback program, allowing purchases of up to 18,057,151 common shares. The Toronto Stock Exchange accepted the program, which runs from October 5, 2026 to October 4, 2027, unless completed or terminated earlier. The limit represents 10% of public float as of September 21, 2026, and purchased shares will be cancelled.

Under its 2025-2026 program, Trican purchased 9,751,100 shares through September 21, 2026 for $60.1 million, at a weighted average price of $6.16 per share. This represented 53% of that program's maximum. Management will evaluate and adjust buyback investment as the company's financial position and results dictate.

4 points · 0 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 1 point

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.Renewed buyback authorization permits up to 18,057,151 shares, or 10% of public float, for cancellation.
• Moderate pointPrior-program repurchases reached 9,751,100 shares for $60.1 million through September 21, 2026, averaging $6.16 per share. 7% of market cap
• Minor pointRepurchases since 2017 total 187 million shares, approximately 54% of shares outstanding at that time.
• Minor point. Forward-looking: it has not happened yet and may not happen.Trican plans an automatic securities purchase plan enabling repurchases during regulatory restrictions or self-imposed blackout periods.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.Daily purchases are limited to 172,704 shares, with one block purchase per calendar week permitted above that limit.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Calgary, Alberta--(Newsfile Corp. - September 30, 2026) - Trican Well Service Ltd. (TSX: TCW) ("Trican" or the "Company") is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted its application to renew its normal course issuer bid ("NCIB"). The NCIB allows for Trican to purchase up to 18,057,151 Common Shares, representing 10% of the Company's public float, as defined by the TSX, as of September 21, 2026. The NCIB will be in place from October 5, 2026 to October 4, 2027, or until such earlier time as the NCIB is completed or terminated at the option of Trican. As at September 21, 2026, there were 202,908,610 Common Shares of Trican issued and outstanding and the public float for the Company's Common Shares was 180,571,518.

Under TSX rules, the Company is subject to a daily purchase limit of 172,704 Common Shares, representing 25% of the average daily trading volume of 690,818 Common Shares on the TSX for the six calendar months ended August 31, 2026. However, the Company may make one block purchase per calendar week which 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 2025-2026 NCIB program (the "2025-2026 Program") Trican purchased 9,751,100 Common Shares as at September 21, 2026, for aggregate consideration of $60.1 million at a weighted average price per share of $6.16, which is 53% of the maximum amount of shares allowable under the 2025-2026 Program of 18,405,613 Common Shares. The 2025-2026 Program was in place from October 5, 2025 to October 4, 2026.

Since initiating its NCIB strategy in 2017, Trican has repurchased 187 million Common Shares or approximately 54% 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.

FORWARD-LOOKING STATEMENTS

Certain statements and other information contained in this press release constitute "forward-looking information" and/or "statements" within the meaning of applicable Canadian securities legislation (collectively "forward-looking statements"), including, but not limited to, statements concerning the common shares which may be purchased under the NCIB program and related matters. All statements in this press release other than those relating to historical facts or current conditions are forward looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "estimate", "expect", "intend", "contemplate", "plan", "planned" "intend", "continue", "propose", "might", "may", "will", "shall", "project"', "should"', "could", "would", "believe", "predict", "forecast", "pursue", "potential", "capable", "commit", "maintain", "evaluate", "manage", and other similar terms and phrases. These forward-looking statements involve known and unknown risks, uncertainties, and other factors (many of which are beyond our control) that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. We believe the expectations reflected in these forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct. Therefore, the forward-looking statements included in this press release should not be unduly relied upon.

These forward-looking statements speak only as of the date of this news release. Our actual results, performance or achievements could differ materially from those anticipated in these forward-looking statements as a result of general economic, market and business conditions, as well as the risk factors set forth in the "Risk Factors" section of our most recent Annual Information Form and annual MD&A. Readers are cautioned that the foregoing lists of factors are not exhaustive. Forward-looking statements are based on a number of factors and assumptions which have been used to develop such statements and information but which may prove to be incorrect. Although management of Trican believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Trican can give no assurance that such expectations will prove to be correct.

Except as required under applicable Canadian securities legislation, Trican disclaims any intention or obligation to update or revise any forward-looking statements in this press release as a result of new information, future events or otherwise.

Additional information regarding Trican including Trican's most recent AIF, is available under Trican's profile on SEDAR+ (www.sedarplus.ca).

ABOUT TRICAN

Headquartered in Calgary, Alberta, Trican supplies oil and natural gas well servicing equipment and solutions to our customers through the drilling, completion and production cycles. Our 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.

Requests for further information should be directed to:

Bradley P.D. Fedora
President and Chief Executive Officer

Scott E. Matson
Chief Financial Officer 

Phone: (403) 266-0202
2900, 645 - 7th Avenue S.W.
Calgary, Alberta T2P 4G8

Please visit our website at www.tricanwellservice.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316758

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares can Trican buy under its 2026-2027 buyback program?

Trican may purchase up to 18,057,151 common shares, representing 10% of its public float as of September 21, 2026. All shares purchased under the program will be returned to treasury for cancellation.

When does Trican's 2026-2027 share buyback program run?

The program runs from October 5, 2026 to October 4, 2027, unless completed earlier or terminated at Trican's option.

What daily purchase limit applies to Trican's renewed buyback program?

Trican is subject to a daily limit of 172,704 common shares, representing 25% of average daily TSX trading volume for the six calendar months ended August 31, 2026. The company may make one block purchase per calendar week exceeding that restriction.

How does Trican plan to buy shares during blackout periods?

Trican intends to enter into an automatic securities purchase plan with a designated broker. The arrangement would allow repurchases when regulatory restrictions or self-imposed blackout periods would otherwise prohibit them.