Major Drilling Renewed Normal Course Issuer Bid to Purchase Shares

MONCTON, New Brunswick, Oct. 19, 2026 /CourierPR/ -- Major Drilling Group International Inc., the world’s largest provider of drilling services in the metals and mining industry, has announced the renewal of its normal course issuer bid (NCIB Program). The Toronto Stock Exchange has accepted the company’s notice of intention to purchase up to 4,111,846 outstanding common shares of Major Drilling over a 12-month period commencing on October 21, 2026, and terminating on October 20, 2027.

As of October 7, 2026, Major Drilling had 82,236,936 common shares issued and outstanding. The company plans to purchase shares in Canada through the facilities of the Toronto Stock Exchange and alternative trading systems in Canada. The actual number of common shares repurchased and the timing of such purchases will be at Major Drilling’s discretion, subject to the limitations set out in the Toronto Stock Exchange Company Manual.

Under the NCIB Program, Major Drilling will pay the prevailing market price at the time of purchase. Daily purchases on the Toronto Stock Exchange under the NCIB Program will be limited to 54,146 common shares, which corresponds to 25% of the average daily trading volume (ADTV) of the common shares on the Toronto Stock Exchange for the six-month period from April 1 to September 30, 2026, being 216,585 common shares.

The company had not purchased any common shares as of October 19, 2026, as it prioritized capital for growth opportunities during that period. Major Drilling will enter into an automatic repurchase plan (ARP) with a designated broker to allow for the purchase for cancellation of common shares under the NCIB Program, subject to certain trading parameters. Outside of these periods, the common shares will be purchased by Major Drilling at its discretion under the NCIB Program.

Management and the Board of Directors of Major Drilling believe that the underlying value of the company may not be reflected in the market price of the common shares from time to time. They believe that the purchase of common shares will increase the proportionate interest in Major Drilling of, and be advantageous to, all remaining shareholders of the company.

Major Drilling Group International Inc. is the world’s largest provider of drilling services in the metals and mining industry, with field operations and registered offices that span across North America, South America, Australia, Asia, Africa, and Europe. Established in 1980, the company has grown to become a global brand in the mining space, known for tackling many of the world’s most challenging drilling projects. Supported by a highly skilled workforce, Major Drilling is led by an experienced senior management team that has steered it through various economic and mining cycles, supported by regional managers known for delivering decades of superior project management.